Share Capital of Private Limited Company

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This discussion addresses whether the share capital of a private limited company can be reduced to less than £1 lakh. The consensus is that this is permissible, provided that the company strictly adheres to the provisions outlined in Section 66 of the relevant legislation. Compliance with this section ensures the reduction is legally sound and avoids potential repercussions.

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(Querist)
25 May 2020 Dear Expert,

Can the share capital of private limited can be reduced below 1 lakh.

If yes, then whether there not be any consequences
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
25 May 2020 Yes follow the provisions.
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Helper

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Helper (Querist)
26 May 2020 By complying sec 66 , I can reduce the sharecapital even below 1 lakh
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