Chapter IV -Share Capital and Debentures (Sections 43 – 72)
Section 44- Nature of shares or debentures
|The shares or debentures or other interest of any member in a company shall be movable property transferable in the manner provided by the articles of the company.|
Section 45- Numbering of shares
Every share in a company having a share capital shall be distinguished by its distinctive number:
Provided that nothing in this section shall apply to a share held by a person whose name is entered as holder of beneficial interest in such share in the records of a depository.
Section 49- Calls on shares of same class to be made on uniform basis
Where any calls for further share capital are made on the shares of a class, such calls shall be made on a uniform basis on all shares falling under that class.
Explanation.”For the purposes of this section, shares of the same nominal value on which different amounts have been paid-up shall not be deemed to fall under the same class.
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.
Section 51- Payment of dividend in proportion to amount paid-up
A company may, if so authorised by its articles, pay dividends in proportion to the amount paid-up on each share.
Section 57- Punishment for personation of shareholder.
|If any person deceitfully personates an owner of any securities or interest in a company, or of any share warrant or coupon issued in pursuance of this Act, and thereby obtains or attempts to obtain any such securities or interest or any such share warrant or coupon, or receives or attempts to receive any money due to any such owner, he shall be punishable with imprisonment for a term which shall not be less than one year but which may extend to three years and with fine which shall not be less than one lakh rupees but which may extend to five lakh rupees.|