alleryStart learning →Paid-up capital may be cancelled if it is lost or
AHeld by promoter shareholders
BRaised through new debentures
CFully backed by cash reserves
DUnrepresented by available assets
Answer & Solution
Correct answer: D. Unrepresented by available assets
Section 66(1)(b)(i) allows cancelling paid-up capital that is lost or unrepresented by available assets.
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