Mr A a shareholder of the Moonstar Ltd wants to deposits in advance the remaining amount due on his ...........

Companies Act-Phase (I & II) Share capital and debentures

Mr. A, a shareholder of the Moonstar Ltd. wants to deposits in advance the remaining amount due on his shares without any calls made by Moonstar Ltd. Whether Moonstar Ltd. can accept his advance share amount?

Yes

Partly Yes

Partly No

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Explanation:

According to Sec 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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