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Which one of the following pre-conditions is mandatory for a company limited by guarantee to reduce its…

Reduction of share capital by a company limited by guarantee and having share capital requires confirmation by the Tribunal under section 66. The company must also pass a…

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Which one of the following pre-conditions is mandatory for a company limited by guarantee to reduce its share capital under Section 66 of the Companies Act, 2013?

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Correct answer A

Reduction of share capital by a company limited by guarantee and having share capital requires confirmation by the Tribunal under section 66. The company must also pass a special resolution. A Board resolution or confirmation by the Registrar does not replace the Tribunal's approval.

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