NCLT Mumbai approves KKR India Asset Finance's petition to reduce share capital from ₹91.47 crore to ₹1.76 crore by extinguishing 98.07% of shares.
The reduction involves a payout of ₹379.02 per share, aggregating to ₹340 crore, funded from General Reserves/Securities Premium Account.
Company surrendered its NBFC license, has no creditors, and addressed all observations from the Regional Director and statutory auditor.
Tribunal allows petition with directions for tax and FEMA compliance, requiring publication in Business Standard and Navshakti newspapers.