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        Companies Law

        Section 98 - Power of unlimited company to provide for reserve share capital on re-registration.

        Companies Act, 1956
        Chapter IV
        SHARE CAPITAL AND DEBENTURES

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        Reserve share capital allows unlimited companies re-registering as limited to restrict callability except on winding-up. An unlimited company with share capital, on resolution to register as a limited company, may increase the nominal amount of its shares provided that the increased capital cannot be called except in the event and for the purposes of winding-up, or may provide that a specified portion of its uncalled share capital shall not be callable except on winding-up.
                          Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
                          Provisions expressly mentioned in the judgment/order text.

                              Reserve share capital allows unlimited companies re-registering as limited to restrict callability except on winding-up.

                              An unlimited company with share capital, on resolution to register as a limited company, may increase the nominal amount of its shares provided that the increased capital cannot be called except in the event and for the purposes of winding-up, or may provide that a specified portion of its uncalled share capital shall not be callable except on winding-up.


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