New Delhi, May 2 -- The National Company Law Appellate Tribunal (NCLAT) on Thursday dismissed a petition filed by minority shareholders of printing solutions company Minosha India, formerly Ricoh India, challenging their "wrongful expulsion" from the company via capital reduction scheme.

The bench, led by Justices Yogesh Khanna and Ajai Das Mehrotra, noted that the appellants, who are minority shareholders, collectively hold only 0.025% of the total shares, which is "miniscule and negligible" compared to that of other public shareholders.

"Before us, too, valuation of shares was never an issue raised. The only argument is non-promoters should be treated as a separate class and they only be allowed to vote on special resolution for reduc...