alleryStart learning →Whose confirmation is needed for a share capital reduction under Section 66?
AThe Tribunal bench
BA recognised stock exchange
CThe Central Government
DThe Registrar of Companies
Answer & Solution
Correct answer: A. The Tribunal bench
Section 66(1) makes the reduction subject to confirmation by the Tribunal on the company's application.
Keep practising Internal Reconstruction Sections
Browse all Internal Reconstruction Sections questions for CA Inter, or explore more Accounting topics.
Related questions
In accounting, share capital equals the nominal value ofIn debt restructuring, obligations are typically spread overMalaysia's scheme of arrangement provision is in which section of its 2016 Act?UK schemes of arrangement are found in which Part of the Companies Act 2006?Canada's plan of arrangement: section 192 of which Act?Australian schemes of arrangement are located in which Act?A court-approved agreement between a company and its shareholders or creditors is aProvision for dissenting members under a merger order is made by the