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50 Company to accept unpaid share capital, although not called up.

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CHAPTER IV

Section 50 of Companies Act 2013

1.     A company may, if so authorised by its articles, accept from any member, the whole or a part of the amount remaining unpaid on any shares held by him, even if no part of that amount has been called up.

2.     A member of the company limited by shares shall not be entitled to any voting rights in respect of the amount paid by him under sub-section (1) until that amount has been called up.

Short Notes:

  • This section came into force from September 12, 2013.
  • It provide that a company can accept from any member the whole or a part of the amount remaining unpaid on any shares even if the amount is not called up and such person will not be entitled to any voting rights on the amount paid by him till the amount has been called up.

 

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