Trustwave Securities Limited Receives NCLT Approval for Share Capital Reduction

Trustwave Securities Limited Receives NCLT Approval for Share Capital Reduction​

Trustwave Securities Limited (formerly Sterling Guaranty & Finance Limited) has received an order from the National Company Law Tribunal (NCLT), Mumbai Bench, approving the reduction of its share capital. The order, dated March 19, 2026, confirms the reduction in terms of Section 66 of the Companies Act, 2013.

The company proposes to reduce its fully paid-up equity share capital from INR 6,53,76,000, consisting of 65,37,600 equity shares of INR 10 each, to INR 32,68,800, consisting of 3,26,880 equity shares of INR 10 each. This reduction reflects an accumulated loss of INR 6,21,07,200.

The reduction was initially proposed by the Board of Directors on October 24, 2024, and subsequently approved by shareholders via a special resolution on February 8, 2025. The NCLT order follows a review process, including an interim report from the Regional Director (Western Region), Ministry of Corporate Affairs, and a supplementary report submitted on February 5, 2026.

Trustwave Securities Limited is currently in the process of applying for a certified copy of the NCLT order and the Scheme of Arrangement. The company will subsequently take steps to give effect to the order, including filing it with the Registrar of Companies, within the prescribed timelines. The company is registered with Reserve Bank of India as a Nonbanking Financial Company with Registration No. 13.01229 and had its certificate cancelled with effect from December 15, 2023.

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