Section-49: Calls on Shares of Same Class to be Made on Uniform Basis

Calls on Shares of Same Class to be Made on Uniform Basis

Notified Date of Section: 12/09/2013

49. Where any calls for further share capital are made on the shares of a class, such calls shall be made on a uniform basis on all shares falling under that class.

Explanation.—For the purposes of this section, shares of the same nominal value on which different amounts have been paid-up shall not be deemed to fall under the same class.