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M/s Sunstar Ltd. is authorized by its Article of Association to accept whole or any part of the amount of remaining unpaid calls from any member although no parts of that amount has been called up. A, a shareholder of the Sunstar Ltd. deposits in advance the remaining amount due on his shares without any calls made by Sunstar Ltd. State the Section of the Companies Act, 2013?
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.
By: Srishti Gupta ProfileResourcesReport error
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