NCLT Mumbai approves NSE Academy Ltd's petition to reduce its paid-up preference share capital by INR 241.32 crore.
The capital reduction follows the company's sale of its subsidiary, leaving surplus cash with no immediate deployment plans.
No creditors objected to the reduction, and the Regional Director's observations were addressed via company undertakings.
The order clarifies it does not exempt the company from applicable tax implications or stamp duties arising from the reduction.