Smartworks Files for Share Capital Reduction with NCLT

Smartworks Coworking Spaces Ltd has e-filed an application in Form RSC-1 with the National Company Law Tribunal (NCLT), New Delhi Bench, seeking sanction for the reduction of its share capital. This proposed reduction involves utilizing INR 3,85,61,76,525 from the Securities Premium Account (balance of INR 7,98,22,14,923) to fully set off accumulated losses of INR 3,85,61,76,525 as of March 31, 2026. The objective is to eliminate these losses from the company's books, present a true and fair financial position, and rationalize its Balance Sheet. This action is in continuation of previous intimations regarding the proposed reduction.