Newly incorporated company capital reduction

Can a newly incorporated company go for reduction of capital where authorised and paid up capital is 50L?
please suggest.
Replies (2)
Quick Summary
This discussion addresses whether a newly incorporated company can undertake a capital reduction, even if its authorised and paid-up capital is £50 lakh. The consensus is that it is possible, provided a special resolution is passed. The question also touches upon the feasibility of reducing fully paid-up capital.

A newly incorporated company can go for reduction of capital subject to special resolution.
Fully paid up capital can be reduced?

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