Company do not want capital reduction as passed in EGM

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bikas sharma (Querist)
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01 September 2009 Shareholders of a closedly held LIMITED CO. passed a resolution on 13/9/2008 in connection with capital reduction, company has not taken any further steps as required now it do not want to reduce the capital, i,e want to recined the resolution passed by the shareholders in EGM dated 13/9/2008.

kindly reply what steps should company follow to recined the aforesaid resolution.

Ankur Garg

Ankur Garg (Expert)
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01 September 2009 You don't have to do anything to recined the aforesaid resolution. All you need to do is do not act on this resolution.

In company Law there is no provision regarding this.

However u mau do 1 thing for safety sake== in the next GM pass a resolution to rescind the above resolution.

Regards

bikas sharma

bikas sharma (Querist)
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01 September 2009 thanks for your valuable reply however company has already file for 23 with the ROC after resolution passed in the EGM.

also reply whether the matter is required to be disclosed in the Board report as per provision of Sec 217(1)d).

kindly reply

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