According to sec. 100(1)(c) of the companies act, a company can pay back share capital which is in excess of need if:

Related MCQs

• When shares are forfeited, the share capital account is debited with ________ and the share forfeiture account is credited with __________.
• If shares are bought back out of free reserves then a sum equal to nominal value of the shares so bought back is transferred to:
• A company can issue share at a discount if
• Maximum buy back limit in any year is ______ of total paid up equity capital and free reserves.
• The portion of the authorised capital which can be called-up only on the liquidation of the company is called
• As per section 78 of the companies act, amount collected as premium on securities cannot be utilized for:
• The excess price received over the par value of shares, should be credited __________.
• Dividing the expenditure into capital and revenue is according to
• A partners has to pay interest on drawings what is the entry in the personal A/c of the partner?
• A is drawing Rs. 500 regularly on the 16th of every month, he will have to pay interest in a year on Rs. 6000 for the total period of @ given rate of interest):