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NATIONAL COMPANY LAW TRIBUNAL
SANJIV JAIN, Judicial Member, VENKATARAMAN SUBRAMANIAM, Technical Member
ABTRAN INDIA PRIVATE LIMITED VS
| Table of Content |
|---|
| 1. petition seeks selective equity capital reduction under s.66. (Para 1 , 2 , 3 , 4 , 5 , 6 , 7 , 8) |
| 2. scheme approved by board and shareholders; no creditors prejudiced. (Para 9 , 10 , 11 , 12 , 13 , 14 , 15) |
| 3. compliance with notices; rd report addressed. (Para 16 , 17 , 18 , 19) |
| 4. liquidity sufficient despite losses; precedents cited. (Para 20 , 21) |
| 5. commercial wisdom prevails; no bar for loss-making reduction. (Para 22 , 23 , 24) |
| 6. scheme sanctioned with caveats on compliances. (Para 25 , 26 , 27) |
O R D E R
(Heard through Hybrid mode)
1. This Petition has been filed by Abtran India Private Limited (hereinafter referred as Petitioner/ Company) under Section 66 and other applicable provisions of the Companies Act, 2013, seeking reliefs as follows:
(1) That the reduction of selective Equity Share Capital of the Petitioner duly approved by the equity shareholders of the Petitioner at an Annual General Meeting thereof held on 27.10.2022 at Mahe be confirmed by this Tribunal so as to be binding on all shareholders and creditors of the Petitioner;
(2) That notices may be ordered to the Regional Director, Ministry of Corporate Affairs and the Registrar of Companies, Pondic
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