Companies Act, 2017

PART-V

INVITATION OF DEPOSITS

From: 2023-11-01 - To: 0000-00-00 85. Power of company to alter its share capital.- (1) A company having share capital may, if so authorised by its articles, alter the conditions of its memorandum through a special resolution, so as to- (a) increase its authorised capital by such amount as it thinks expedient; (b) consolidate and divide the whole or any part of its share capital into shares of larger amount than its existing shares; (c) sub-divide its shares, or any of them, into shares of smaller amount than is fixed by the memorandum: (d) cancel shares which, at the date of the passing of the resolution in that behalf, have not been taken or agreed to be taken by any person, and diminish the amount of its share capital by the amount of the share so cancelled: Provided that, in the event of consolidation or sub-division of shares, the rights attaching to the new shares shall be strictly proportional to the rights attached to the previous shares so consolidated or sub-divided: Provided further that, where any shares issued are of a class…