Flipkart parent Walmart India moves NCLT to seek share capital reduction
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Ecommerce major Flipkart’s parent entity Walmart India has moved the Delhi bench of the National Company Law Tribunal (NCLT) to seek a reduction of share capital. Reduction of share capital allows a company to adjust (or eliminate) accumulated losses or change the capital structure of a company. NCLT directed Walmart India to submit supporting judgements from higher courts to strengthen its arguments