Newspaper Advertisement for Approval of Reduction of Share Capital
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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
TCFC Finance Ltd has published newspaper advertisements informing stakeholders that the Hon'ble NCLT (National Company Law Tribunal), Mumbai Bench has approved the scheme of reduction in share capital. The Ministry of Corporate Affairs has registered the court order giving effect to this capital reduction. The process involved shareholder approval dated 19.05.2020 and creditor approval dated 16.05.2020. The notice informs creditors and shareholders that they have 14 days to raise any objections to the registered order. The company filed this disclosure under SEBI (LODR) Regulations, 2015, and the information is also available on the company's website.
The NCLT approval for share capital reduction marks completion of a key legal step in the restructuring process. Shareholders should note the reduction will affect their ownership percentage and the number of shares they hold. The 14-day objection period is the final opportunity for stakeholders to raise concerns before the reduction becomes final.