By Pramod Prabhudesai, Chartered Accountant | Kaushik M. Jhaveri, Company Secretary
16. In the matter of:
Naman Gurumurthi Joshi
Before NCLAT PRINCIPAL BENCH,
NEW DELHI
Company Appeal No. 155 of 2025
Date of Order: 26th September 2025
Selective Reduction of Capital is valid if fair value is paid: NCLAT reiterates that the list given in Section 66 (1) (a) and (b) are merely examples and not the only ways share capital may be decreased.
FACTS
- This appeal is filed against an impugned order dated 5th January 2024 passed by NCLT under Section 66 of the Companies Act, 2013.
- The appellant is a shareholder of RR Ltd: The Respondent and held 129 shares, constituting 0.0000014% of the issued paid up capital of the Company. He as an intervenor had objected to the reduction of share capital alleging inter alia such reduction is against the minority interest and is not permitted under Section 66 of the Companies Act, 2013 since the Respondent company is forcefully removing its shareholders and that the promoters are increasing their stakes by using thi
