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Question
According to Sec 50 of the Companies Act 2013, the amount of Calls in Advance can be accepted by the Company only when it is authorised by ______.
Options
Board of Directors
Equity Shareholders
Articles of Association
Memorandum of Association
MCQ
Fill in the Blanks
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Solution
According to Sec 50 of the Companies Act 2013, the amount of Calls in Advance can be accepted by the Company only when it is authorised by Articles of Association.
Explanation:
According to Section 50 of the Companies Act, 2013, a company may accept Calls in Advance (i.e., money paid by shareholders before it is actually called) only if it is authorised by its Articles of Association.
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Chapter 6: Company Accounts - Issue of Shares - OBJECTIVE TYPE QUESTIONS [Page 6.202]
