Section 85(1)(b) in The Companies Act, 1956

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Union of India - Subsection

Section 85(1)(b) in The Companies Act, 1956

(b)that as respects capital, it carries or will carry, on a winding up or repayment of capital, a preferential right to be repaid the amount of the capital paid-up or deemed to have been paid-up, whether or not there is a preferential right to the payment of either or both of the following amounts, namely-

(i)any money remaining unpaid, in respect of the amounts specified in clause (a), up to the date of the winding up or repayment of capital; and

(ii)any fixed premium or premium on any fixed scale, specified in the memorandum or articles of the company.

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Union of India - Subsection

Section 85(1)(b) in The Companies Act, 1956