Distinguish between the following: Alteration of Share Capital and Reduction of Share Capital.

The following are the key differences between Alteration of Share Capital and Reduction of Share Capital: Alteration of Share Capital Reduction of Share Capital Section 61 of the Companies Act, 2013 deals with alteration of share capital Section 66 of the Companies Act, 2013 deals with reduction of share capital Alteration of share capital by way of- increase its authorised share capital by such amount as it thinks expedient consolidate and divide all or any of its share capital into shares of a larger amount than its existing shares convert all or any of its fully paid-up shares into stock, and reconvert that stock into fully paid-up shares of any denomination sub-divide its shares, or any of them, into shares of smaller amount than is fixed by the memorandum cancel shares which have not been taken or agreed to be taken by any person, and diminish the amount of its share capital by the amount of the shares so cancelled. cancellation of share capital under Section 61 shall not be treated as reduction of share capital Reduction of share capital in case of company limited by shares or limited by guarantee and having a share capital by way of- extinguish or reduce the liability on any of its shares in respect of the share capital not paid-up either with or without extinguishing or reducing liability on any of its shares- cancel any paid-up share capital which is lost or is unrepresented by available assets pay off any paid-up share capital which is in excess of the wants of the company Passing of special resolution is not required Passing of special resolution is required for reduction of share capital Confirmation of NCLT is not required Confirmation of NCLT is required