https://www.taxtmi.com/caselaws?id=111782 For section 399 of the Companies Act, 1956, "issued share capital" is a wide expression that includes both equity and preference share capital. The statutory scheme, including sections 86 and 87, recognises both forms of share capital and their distinct incidents, so the plain language of section 399 cannot be narrowed by noscitur a sociis. The word "issued" also cannot be read down to confine the calculation to equity shares alone or to exclude preference shareholders from the threshold computation. On that basis, the one-tenth membership requirement was not met. en-us Fri, 25 Apr 2008 00:00:00 +0530 Mon, 08 Dec 2014 17:45:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=111782 For section 399 of the Companies Act, 1956, "issued share capital" is a wide expression that includes both equity and preference share capital. The statutory scheme, including sections 86 and 87, recognises both forms of share capital and their distinct incidents, so the plain language of section 399 cannot be narrowed by noscitur a sociis. The word "issued" also cannot be read down to confine the calculation to equity shares alone or to exclude preference shareholders from the threshold computation. On that basis, the one-tenth membership requirement was not met. Case-Laws Companies Law Fri, 25 Apr 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=111782