Cancellation of allotment made by Private Company resulting into reduction of Share CapitalReport
Please briefly explain why you feel this question should be reported .
Few Shares were issued by a Private Company in the past were under litigation.
NCLT declared those issued Shares by the Company as null and void. Now, the Company needs to cancel those issued shares to comply with the order and to also the reduce the amount of Paid-up Share Capital as on the MCA Portal.
What process does the company needs to follow? Is it required to call an EGM?