Section 65 of Companies Act, 2013

65. Unlimited company to provide for reserve share capital on conversion into limited company

An unlimited company having a share capital may, by a resolution for registration

as a limited company under this Act, do either or both of the following things, namely—

(a) increase the nominal amount of its share capital by increasing the nominal

amount of each of its shares, subject to the condition that no part of the increased

capital shall be capable of being called up except in the event and for the purposes of

the company being wound up;

(b) provide that a specified portion of its uncalled share capital shall not be

capable of being called up except in the event and for the purposes of the company

being wound up.

Complete: companies-act-2013