Archive · 28 Sep 2025
NCLAT Upholds Reliance Retail Share Reduction After Appeal
Reliance Retail, a company, decided to buy back shares from some of its minority shareholders, offering them ₹1,380 per share.
Most shareholders agreed.
One shareholder, N G Joshi, with only 129 shares, disagreed, claiming it was unfair.
The NCLT dismissed this claim.
The shareholder appealed, but the NCLAT reviewed the case and also dismissed the appeal, agreeing the price was fair and that the majority of shareholders had approved.
Therefore, Reliance Retail can proceed with the share buyback.
NCLAT dismissed a petition against Reliance Retail's share reduction.
Reliance Retail reduced 78,65,423 equity shares in 2023.
Non-promoter shareholders were offered ₹1,380 per share.
A shareholder, N G Joshi, objected to the reduction.
NCLAT upheld the NCLT order, citing fair value and majority approval.
- Who
- Reliance Retail, NCLAT, N G Joshi
- What
- NCLAT dismissed an appeal regarding Reliance Retail's share capital reduction.
- When
- Share reduction in 2023; NCLAT ruling last week
- Where
- India
- Why
- NCLAT found the value offered to non-promoter shareholders was fair, and the majority approved the action.
- Company
- Reliance Retail Ltd (RRL)
- Action
- Reduction of Equity Share Capital
- Shares Reduced
- 78,65,423
- Share Price Offered
- ₹1,380 per share
- Shareholder Objection
- N G Joshi (129 shares)
- NCLAT Ruling
- Dismissed Appeal, upheld NCLT order
- Approval Percentage
- 99.99%
