COMP No. 2 of 2008 Hon. Prafulla C. Pant, J. Shri S.K. Posti, Advocate, present for the petitioner. This is a petition, moved under Section 101 of Indian Companies Act, 1956, for confirmation of the resolution passed for reduction of share capital by IGL Finance Ltd, Kashipur, Udham Singh Nagar. A resolution dated 02.09.2008, appears to have been passed by the petitioner-IGL Finance Ltd, at its head office- New Delhi, under Section 100 of Indian Companies Act, 1956, for reduction of the share capital, a copy of which is Annexure-F to the petition, filed before this Court with application moved under Section 101 of the Act. Learned counsel for the petitioner submitted that there are no creditors and the entire share capital of Rs. 5 crore is owned land held by the company (India Glycols Ltd.). The reduced share capital would be one crore (10,00,000/- equity shares of Rs. 10). Notices were directed to be issued by this Court on 29.09.2008, in The Times of India and Dainik Jagran, daily newspapers. Notices were published but no objections are received from anyone against the resolution, passed by the company. Article 23 of Articles of Association of the Company, copy of which is annexed as annexure-A to the petition, authorizes the company to reduce its share capital subject to the provisions of Section 100 to 105 of the Companies Act, 1956. In the above circumstances, the petition under Section 101 of the Indian Companies Act, is allowed. Resolution dated 02.09.2008, passed by IGL Finance Ltd, in its 10th annual general meeting held on 14.08.2008, stands affirmed. Company may move for registration under Section 103 of the Act to the authority concerned. (P. C. P., J.) Dt. 11.05.2009