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

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

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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