Sections | Particulars |
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Chapter IV | Share Capital and Debentures |
50 | Company to accept unpaid share capital, although not called up. |
Description | 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. |
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