Authority: National Company Law Tribunal (NCLT) Kochi Bench
Order Date: 14 July 2026
Case Overview
The National Company Law Tribunal (NCLT) Kochi Bench, comprising Shri Vinay Goel (Member Judicial) and Shri Ravichandran Ramasamy (Member Technical), heard petition CP(C/ACT)/38/KOB/2026 filed by Matrix Chits Private Limited. The petition was filed under Section 66(1)(b)(ii) of the Companies Act, 2013, seeking reduction of the company's share capital. The petitioner was represented virtually by Company Secretary Mr. Prabin K. The tribunal noted the petitioner's submission that the company has no creditors.
Final Outcome
The tribunal directed the petitioner to serve a copy of the notice along with a hard copy of the petition and all annexures upon the office of the Registrar of Companies (RoC) through registered post and all other available modes, and to file an affidavit of service. In exercise of powers under Rule 3(6) of the NCLT (Procedure for Reduction of Share Capital of Company) Rules, 2016, the requirement for issuance of public notice was dispensed with based on the submission of no creditors. The case was adjourned to 6 August 2026 for a response from the Registrar of Companies.
Topics: Share Capital Reduction, NCLT Proceeding, Corporate Restructuring