By Pramod Prabhudesai, Chartered Accountant | Kaushik M. Jhaveri, Company Secretary
22. Tictok Skill Games Private Limited
Petition No: CP -83 / ND/2021
Before, National Company Law Tribunal,
New Delhi Bench
Date of Order: 18th December, 2025
Capital Reduction must fall under four corners of Section 66(1) of the Companies Act, 2013
Facts
1. Parties and proposal
- Petitioner: Tictok Skill Games Pvt Ltd (now WinZO Games Pvt Ltd), an e-sports gaming platform company, incorporated in 2016, later renamed in 2022.
- Relief sought: Confirmation under section 66 of the reduction of issued, subscribed and paid-up equity capital from 3,00,000 equity shares of ₹100 each (₹3 crore) to 3,00,000 equity shares of ₹10 each (₹30 lakh) by paying ₹90 per share (total ₹2.7 crore) to certain equity shareholders.
- Basis stated: The company wanted to bring the face value of all equity shares at par and claimed to have sufficient funds, invoking section 66(1)(b)(ii) (payment of paid-up capital in excess of the wants of the compan
