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Section 92 – The Companies Act,1956

The Companies Act, 1956

92. Power of 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, although no part of that amount has been called up.

(2) The member shall not however be entitled, where the company is one limited by shares, to any voting rights in respect of the moneys so paid by him until the same would, but for such payment, become presently payable.

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The Companies Act, 1956

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