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[Cites 0, Cited by 0] [Section 101(7)] [Section 101] [Entire Act]

Union of India - Subsection

Section 101(7)(b) in Indian Companies Act, 1913

(b)if no amount is so fixed and named, the whole amount of the share capital other than that issued or agreed to be issued as fully or partly paid up otherwise than in cash; has been subscribed and an amount not less than five per cent, of the nominal amount of each share payable in cash has been paid to and received by the company.