Reduction of share capital

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This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

20 September 2012 Ours is listed Company. We would like to demerge some investment in other company through Scheme of Arrangement Pursuant Scheme We have to issue some shares to abc (Treasury) before issuing the treasury We would like to cancel some equity shares held by treasury. Should we pass the special resolution through Postal Ballot OR we have to arrange EGM OR we have to pass through court convened meeting.

Please advice

CS Ankur Srivastava

CS Ankur Srivastava (Expert)

20 September 2012 Capital can not be reduced except the order of Court.

Querist : Anonymous

Querist : Anonymous (Querist)

02 November 2012 only in Court Convened Meeting (as directed by the Court) we have pass special resolution with regard to reduction of share capital ?

CS Ankur Srivastava

CS Ankur Srivastava (Expert)

02 November 2012 Then the resolution shall be special resolution.

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