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Internal reconstruction is governed by which sections of the Companies Act 2013?
ASec 230 only
BSec 61 and 66
CSec 100 to 104
DSec 232
Answer & Solution
Correct answer: B. Sec 61 and 66
1. Step 1: Per Ch 14, internal reconstruction is done per Sec 61 (alteration of share capital) and Sec 66 (reduction).
2. Step 2: External reconstruction goes through Sec 232.
3. Step 3: Hence (B).
_Source: ICAI BoS CA Inter Paper 1, Ch 14 "Internal Reconstruction"_