AdvertisementIn re Electrotherm (India) Limited (NCLAT Ahmedabad) The National Company Law Tribunal considered a petition filed by Electrotherm (India) Limited under Section 55(3) of the Companies Act, 2013 seeking approval to issue and allot 1,20,00,000 6% Non-Cumulative Redeemable Preference Shares (NCRPS) of ₹10 each to its existing preference shareholders in lieu of unredeemed preference shares that had become due for redemption. The company also sought a declaration that, upon such issue, the existing unredeemed preference shares would be deemed redeemed and that the transaction would not amount to ...