The Public Company can arrange reserve capital by passing a special resolution as per Company Act Section...?
a)96 b)97 c) 98 d)99
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Punishment for default in complying with provisions of sections 96 to 98. 100. ... Resolutions passed at adjourned meeting. ...
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The Public Company can arrange the reserve capital by passing a special resolution as per Company Act section 99.
- Reserve capital is the authorized capital of the company that is always available but never disclosed.
- This capital is needed only when the company is about to shut down permanently.
- This is why it is termed as the 'reserved' capital.
- It is the non-essential capital for a company.
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