A Writ Petition was filed by Ambuja Cements Limited (hereinafter “the Petitioner” or “ACL”), challenging the imposition of stamp duty on a merger order under Article 23 of Schedule IA of the Indian Stamp Act, 1899 by...
SHARE CAPITAL REDUCTION sought under SECTION 66 is denied by the NCLT
Recently, the Hon’ble Kolkata Bench of the National Company Law Tribunal (“NCLT”) rejected a scheme of Capital Reduction (“Scheme”) filed by Phillips India Limited (“PIL” or Petitioner Company”) which inter-alia...
