"An unlimited company can reduce the share capital of the company in a manner specified in the Article of Association of the company without confirmation of NCLT." Comment. List out certain situations where no confirmati

According to Section 2(92) of the Companies Act, 2013, unlimited company means a company not having any limit on the liability on the members. The member's liability is unlimited. The unlimited company can reduce the share capital of the Company in a manner specified in the Articles of Association of the Company without confirmation of NCLT. The following are cases which amount to reduction of share capital but where no confirmation of the Tribunal is necessary: Surrender of shares. Forfeiture of shares. Diminution of capital. Redemption of redeemable preference shares. Buy-back of its own shares.