This discussion examines whether a company can legally utilise its share premium account for working capital or the purchase of fixed assets, provided a special resolution is passed. It specifically references Sections 52(1) and 66 of the relevant law, noting that the utilisation of security premium is generally restricted in such cases.
02 March 2022
Can a Company use share premium account for the purpose of Working capital or purchasing fixed Assets after passing special resolution. What law says?