law: Companies Act, 2013 
  61.
  
    Power
  
  of limited company to alter its share capital.
  1.      A limited company
  
  having a share capital may, if so authorised by its articles, alter its
  
  memorandum in its general meeting to—
  a.     
  
    increase
  
  its authorised share capital by such amount as it thinks expedient;
  b.    
  
    consolidate
  
  and divide all or any of its share capital into shares of a larger amount than
  
  its existing shares:
  Provided
  
  that no consolidation and division which results in changes in the voting
  
  percentage of shareholders shall take effect unless it is approved by the
  
  Tribunal on an application made in the prescribed manner;
  a.     
  
     
  b.     
  
     
  c.     
  
    convert
  
  all or any of its fully paid-up shares into stock, and reconvert that stock
  
  into fully paid-up shares of any denomination;
  d.    
  
    sub-divide
  
  its shares, or any of them, into shares of smaller amount than is fixed by the
  
  memorandum, so, however, that in the sub-division the proportion between the
  
  amount paid and the amount, if any, unpaid on each reduced share shall be the
  
  same as it was in the case of the share from which the reduced share is
  
  derived;
  e.     
  
    cancel
  
  shares which, at the date of the passing of the resolution in that behalf, have
  
  not been taken or agreed to be taken by any person, and diminish the amount of
  
  its share capital by the amount of the shares so cancelled.
  2.      The cancellation of
  
  shares under sub-section (1 ) shall not be deemed to be a reduction of
  
  share capital.