Section 23(2) in Road Transport Corporations Act, 1950
(2)[ The Corporation may, whether or not any capital is provided to it under sub-section (1), raise by the issue of shares such capital (hereafter in this section referred to as the authorised share capital) as may be authorised in this behalf by the State Government:Provided that where any capital is provided to the Corporation under sub-section (1), no capital may be raised under this sub-section without the previous approval of the Central Government.(2-A) Any capital raised under sub-section (2) with the previous approval of the Central Government may be,(a)in addition to the capital provided to the Corporation under sub-section (1);(b)subscribed to by the Central Government or the State Government, as the case may be, by converting the whole or any part of the capital provided whether before or after the commencement of the Road Transport Corporations (Amendment) Act, 1982 to the Corporation by that Government under sub-section (1).]
