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Which body confirms a company’s reduction of share capital under section 66 of the Companies Act, 2013?

Question and options

Which body confirms a company’s reduction of share capital under section 66 of the Companies Act, 2013?

  1. High Court

  2. Reserve Bank of India

  3. National Company Law Tribunal

  4. Registrar of Companies

Answer and explanation

Correct answer: C - National Company Law Tribunal

Section 66(1) allows a company to reduce its share capital by special resolution, subject to confirmation by the National Company Law Tribunal on an application. Under the Companies Act, 1956 the confirming body was the High Court. The Registrar only registers the Tribunal’s order once it is filed.

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