The Viewpoint - Capital Reduction as a tool in M&A activity

Pallavi Saluja May 9 2013

by Nandish Vyas and Sayantan Banerjee

The Companies Act, 1956 (the “Act”) under Section 100 of the Act provides that a company can reduce its share capital in any manner. Sections 100 to 105 of the Act provide for the procedure by which a company limited by shares can reduce its share capital. Further, under the provisions of Section 78 of the Act, unless the securities premium account is applied for certain specific purposes, the utilisation . . .

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