[Notification/Effective Date: 12.09.2013]
Section 50- Company to accept unpaid share capital, although not called up. [Corresponds to Section 92 of the Companies Act,1956]
(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.