the procedure of cancellation / reduction of authoires capit
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
26 February 2010
pls tell me, the procedure of cancellation / reduction of authoires capital(unissued capital)
thanx
thanx
26 February 2010
As per my understanding authorised capital of the company can not be reduced.
However by passing an ordinary resolution u/s 94(1)(e) you may cancel the shares, which have not been taken or agreed to be taken by any person, and diminish the amount of share capital by the amount of the shares so cancelled.
Regards
However by passing an ordinary resolution u/s 94(1)(e) you may cancel the shares, which have not been taken or agreed to be taken by any person, and diminish the amount of share capital by the amount of the shares so cancelled.
Regards
26 February 2010
authorised capital can not be reduced
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