valid as on 21/07/2019

Rule 5- NCLT (Procedure for Reduction of Share Capital of Company) Rules,2016
Effective from 15-12-2016

4.2.5- NCLT (Procedure for Reduction of Share Capital of Company) Rules,2016

5. Procedure with regard to representations and objections received.– (1) The company shall submit to the Tribunal, within seven days of expiry of period upto which representations or objections were sought, the representations or objections so received along with the responses of the company thereto.

(2) The Tribunal may give such directions as it may think fit with respect to holding of any enquiry or adjudication of claims or for hearing the objection or otherwise.

(3)  At the hearing of the application, the Tribunal may, if it thinks fit, give such directions as may deem proper with reference to securing the debts or claims of creditors who do not consent to the proposed reduction, and the further hearing of the petition may be adjourned to enable the company to comply with such directions.


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