Unlock Advanced Research with PRISMAI Integrated with over 4 crore judgments and laws — designed for legal practitioners, researchers, students and institutions - Know your Kanoon - Doc Gen Hub - Counter Argument - Case Predict AI - Talk with IK Doc - ... Upgrade to Premium Document Options Get in PDF Print it! [Cites 0, Cited by 0] [Section 266] [Entire Act] Union of India - Subsection Section 266(2) in The Companies Act, 1956 (2)Where a person has signed and filed as aforesaid an undertaking to take and pay of his qualification shares, he shall, as regards those shares, be in the same position as if he had signed the memorandum for shares of that number of value.