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Sec 50 Companies Act 2013: Company to Accept Unpaid Share Capital, Although Not Called Up

SECTION-50 (Company to accept unpaid share capital, although not called up) under CHAPTER-IV (Share Capital and Debentures) of the Companies Act, 2013

(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.

Extra Notes for Readers

(1) The Companies Act, 2013 received the assent of the President on the 29th August, 2013 (Published in the Gazette of India, Extraordinary, Part II - Section 1 by Ministry of Law and Justice, Legislative Department on 30th August, 2013).

(2) Section 50 of the Companies Act 2013 was notified by MCA Notification S.O. 2754(E) dated 12th September 2013 (w.e.f. 12th September 2013).

(3) Further, refer the Companies (Share Capital and Debentures) Rules, 2014.

This page was created/last updated on 26th December, 2016.

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