Reduction of Share Capital
The Tribunal route under s.66, slow, expensive and the only lawful way to cancel issued shares or return surplus capital outside a buy-back or a scheme.
- 9 pages
- 110
- Word and PDF
- 12 September 2026
The 4 formats inside
- 1Board resolution, reduction of share capital and filing of the petitions.66 · NCLT (Procedure for Reduction of Share Capital) Rules 2016On its own₹149
- 2Special resolution, reduction of share capitals.66(1) · s.114(2)On its own₹149
- 3Structured note, contents and annexures of the RSC-1 applicationRule 2, NCLT (Procedure for Reduction of Share Capital) Rules 2016On its own₹149
- 4Auditor's certificate, accounting treatment and depositsProviso to s.66(3) · Rule 2, NCLT Reduction Rules 2016On its own₹149
Read the opening
The first part of “Board resolution, reduction of share capital and filing of the petition”, as it downloads. Blanks are highlighted.
Extract from the minutes of the meeting of the Board of Directors of [ABC Private Limited] held on [Date of the Board meeting] at [Time of the Board meeting] at the registered office of the Company at [Company's registered office address]
REDUCTION OF THE ISSUED, SUBSCRIBED AND PAID-UP EQUITY SHARE CAPITAL OF THE COMPANY
The Chairman informed the Board that the issued, subscribed and paid-up equity share capital of the Company is Rs [Paid-up equity capital before the reduction (Rs)] divided into [Paid-up equity shares before the reduction (number)] equity shares of Rs [Face value of each equity share before the reduction (Rs)] each, fully paid up, and that the audited financial statements of the Company for the financial year ended [Year-end date of the latest audited financial statements] disclose [accumulated losses of Rs [____] / cash and cash equivalents of Rs [____] in excess of the present and reasonably foreseeable requirements of the business].