NCLT Mumbai Admits P&G Home Products' ₹3.15 Crore Capital Reduction Plan, Directs Notice To Creditors
Kirit Singhania
25 Feb 2026 12:54 PM IST
The National Company Law Tribunal (NCLT) at Mumbai has admitted a plea filed by Procter & Gamble Home Products Pvt Ltd, the Indian home care arm of US-based consumer goods major Procter & Gamble seeking approval for reduction of its Rs. 3.15 crore equity share capital under the Companies Act.
A coram of Judicial Member K.R. Saji Kumar and Technical Member Anil Raj Chellan after hearing the company, directed it to serve notices on creditors, the Regional Director (Western Region) and the Registrar of Companies. Creditors have been granted three months to raise objections.
The company had passed a special resolution at its Extra-Ordinary General Meeting held on July 14, 2025, approving the proposed reduction. It seeks to reduce its paid-up equity share capital from Rs. 55.12 crore, comprising 5,51,21,418 equity shares of Rs10 each, to Rs. 51.96 crore, comprising 5,19,69,508 equity shares).
P&G proposes to do this by cancelling and extinguishing 31,51,910 fully paid-up equity shares aggregating to Rs. 3.15 crore, stated to be in excess of the company's requirements.
As part of the reduction, shareholders holding the cancelled shares will receive Rs. 4,885.75 per share, including a premium component of Rs. 4,875.75 per share.
The tribunal has further directed the company to file an affidavit of service within 30 days from receipt of the certified copy of the order. The matter has been listed on May 28 for further hearing.
For Applicant Company: PCS Nrupang Dholakia