Please find attached herewith the order received from NCLT, approving the scheme of reduction of Share capital of the Company
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TCFC Finance Ltd has received an order from the National Company Law Tribunal (NCLT) approving a scheme for the reduction of the company's share capital. The actual filing document could not be retrieved due to a BSE website error. Share capital reduction schemes typically involve cancelling existing shares or reducing the face value of shares, which reduces the total number of shares outstanding. This is often done to write off accumulated losses or improve financial ratios.
For existing shareholders, share capital reduction may lead to higher per-share metrics since fewer shares will represent the same underlying value. However, the company has not disclosed the specific reduction amount or rationale.