Section 117, The Companies Act, 2009

To the extent to which it is so authorised by its articles, acompany may– (a) make arrangements on the issue of shares for a difference between the shareholders in the amounts and times of payment of calls on their shares; (b) accept from any member the whole or a part of the amount remaining unpaid on any shares held by him, although no part of that amount has been called up; Statement in balance sheet as to com- Payment for payment in cash. Payment other than in cash. Power to pay different amounts on 80 81 (c) pay dividend in proportion to the amount paid up on each share where a larger amount is paid up on some shares than on others.