Intimation of filling a Application (petition) under section 66 of Companies Act, 2013.
Awaiting price reaction for this filing.
Omkar Overseas Ltd has filed an application (petition) with the NCLT Ahmedabad bench seeking approval to reduce its share capital, under Section 66 of the Companies Act, 2013. The company informed BSE of this development on September 12, 2025, as required under SEBI Listing Regulations. Section 66 allows companies to reduce share capital only with NCLT or court approval, meaning shareholders and creditors will have the right to object. The specific reasons and extent of the proposed capital reduction are not mentioned in the filing.
Share capital reduction can affect share price, face value, and existing shareholding, and it typically requires NCLT approval after hearing objections. Investors should watch for further disclosures on the rationale, quantum, and timeline of the proposed reduction before drawing conclusions.