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Question
Write a short note on Reserve capital.
Short/Brief Note
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Solution
Sec 65 of Companies Act 2013, only an unlimited company having share capital while converting into a limited company, may have a reserve capital. The company reserve a part of its subscribed capital to be called up only at the time of winding up. It is called reserve capital.
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Chapter 7: Company accounts - Short answer questions [Page 257]
