Amended and updated notes on section 49 of Companies Act 2013. Detail discussion on provisions and rules related to calls on shares of same class to be made on uniform basis.
Chapter IV (Sections 43–72) of the Companies Act, 2013 (CA 2013) deals with the provisions related to share capital and debentures. Section 49 of CA 2013 provides for calls on shares of same class to be made on uniform basis.
Recently, we have discussed in detail section 48 (Variation of shareholders’ rights) of CA 2013. Today, we learn the provisions of section 49 of Companies Act 2013 read with the Companies (Share Capital and Debentures) Rules, 2014.
Section 49 of the Companies Act, 2013 has been notified by the Ministry of Corporate Affairs (MCA) vide Notification No. S.O. 2754(E) issued dated 12.09.2013. This notification was come into force from 12th September, 2013 i.e. the commencement date of section 49 is 12-09-2013.
| Name of Act | The Companies Act 2013 |
|---|---|
| Enacted by | Parliament of India |
| Administered by | Ministry of Corporate Affairs (MCA) |
| Number of Chapters | 29 |
| Number of Sections | 484 (470-43+57) |
| Number of Schedules | 7 |
| You are reading: | |
| Chapter No. | IV |
| Chapter Name | Share Capital and Debentures |
| Section No. | 49 |
| Section Name | Calls on shares of same class to be made on uniform basis |
| Monthly Updated Edition | Company Law PDF |
Section 49 of Companies Act 2013: Calls on shares of same class to be made on uniform basis
Section 49 shall come into force on 12th September, 2013 vide Notification No. S.O. 2754(E) dated 12.09.2013.
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.