Act Number: 18

Act Name: The Companies Act, 2013

Year: 2013

Enactment Date: 2013-08-29

Long Title: An Act to consolidate and amend the law relating to companies.

Ministry: Ministry of Corporate Affairs

Department:

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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