law: Companies Act, 1956
  Sec 100       -     Special
  
  resolution for reduction of share capital.
  (1) Subject to confirmation by the Court, a
  
  company limited by shares or a company limited by   guarantee and
  
  having a share capital, may, if so authorized by its articles, by special
  
  resolution, reduce its share capital in any way ; and in particular and without
  
  prejudice to the generality of the foregoing power, may
  (a) extinguish or reduce the liability on any
  
  of its shares in respect of share capital not paid-up ;
  (b) either with or without extinguishing or
  
  reducing liability on any of its shares, cancel any paid-up share capital which
  
  is lost, or is unrepresented by available assets ; or
  (c) either with or without extinguishing or
  
  reducing liability on any of its shares, pay of any paid-up share capital which
  
  is in excess of the wants of the company ;
  and may, if and so far as is necessary, alter
  
  its memorandum by reducing the amount of its share capital and of its shares
  
  accordingly.
  (2) A special resolution under this section is
  
  in this Act referred to as " a resolution for reducing share capital
  
  ".