in case of capital reduction, prior approval of court is necessary in certain cases but my question I court means which court?
jurisdictional court
high court
supreme court
and if company or creditor doesn't satisfy with the decision then can they go at superior court???
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Capital reduction
Replies (4)
Quick Summary
Check out the concepts of hard and soft capital rationing as they could be the reasons for capital reduction. Or, the high court’s have the authority and supreme courts as well when related to share capital reduction. I’m not sure about district jurisdiction.
https://www.lawstreetindia.com/experts/column?sid=314
Ok....thank you so much
Ideally, in such cases, the NCLT should permit the capital reduction since it is a company and shareholder matter (and is approved by a special resolution) and particularly in light of the wide ambit of section 66 of the Companies Act, 2013
Actually ma'am..in the chapter of capital reduction, it is given that court will approve ...my confusion is there ..
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