Thursday 17 July 2014

No Special Resolution required for capital reduction if an approved arrangement had already included

CL: While construing a scheme or resolution effecting reduction of capital, though section 100(2) requires same to be done through a special resolution for reducing share capital passed by members, it would be sufficient if all members were put on notice of proposed agenda of reduction of share capital and requisite majority for a special resolution, as posited by section 189(2), approve or consent to same


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