Beeyu Overseas capital reduction received approval from the National Company Law Tribunal’s Kolkata Bench through an order dated 1 October 2026, the company said in a BSE filing on 3 October 2026. The approved exercise will cancel approximately 99.42% of its equity share capital to adjust accumulated losses.

The company’s issued, subscribed and paid-up equity capital will fall from Rs 14,14,14,530, comprising 1,41,41,453 shares, to Rs 8,28,200, comprising 82,820 shares. The face value remains Rs 10 per share. The reduction involves cancellation and extinguishment of 1,40,58,633 fully paid-up equity shares.

Beeyu Overseas said implementation will follow completion of the applicable statutory and corporate action formalities. The filing therefore reports tribunal approval, while the capital reduction remains to be implemented.

How the accumulated losses will be adjusted

The petition sought to set off Rs 23,14,53,545 in accumulated losses reflected in the audited balance sheet as at 31 March 2024. It set out three components:

  • Rs 6,23,48,318 against the capital reserve.
  • Rs 2,85,18,897 against the securities premium reserve.
  • The remaining Rs 14,05,86,330 through cancellation and extinguishment of equity shares.

The proposed cancellation carries no consideration payable to shareholders. In its submissions reproduced in the order, the company said the exercise involves no financial outlay and would not affect its liquidity for meeting obligations in the normal course of business.

The company described the exercise as an adjustment between capital and assets intended to present its financial position more accurately. The losses targeted by the petition relate specifically to the balance sheet dated 31 March 2024.

Approvals and implementation status

The board approved the proposal on 8 August 2024. Shareholders subsequently passed a special resolution at the company’s 31st annual general meeting on 20 September 2024.

The tribunal approval is under Section 66 of the Companies Act, 2013. Beeyu Overseas disclosed it under Regulation 30 read with Schedule III of the SEBI Listing Obligations and Disclosure Requirements Regulations, 2015.

The company, listed on BSE under scrip code 532645, also stated in the proceedings that tribunal approval would not restrict the Income-tax Department’s powers to examine its returns. Any tax implications arising from the reduction will be dealt with in accordance with law.