Question

A special resolution passed for the purpose of reduction of capital of a company must be confirmed by the _________________.

• A. Registrar of companies
• B. Company law Board
• C. SEBI
• D. Appropriate Law Court

Answer 1

The correct option is D Appropriate Law Court

Section 66 of the Companies Act deals with the procedure of Reduction of share capital. It states that a company can pass a special resolution for reducing share capital but it is subjected to confirmation by the Tribunal.

The Reduction of Share Capital means reduction of issued, subscribed and paid up share capital of the company.