law: Companies Act, 1956
  Sec 96    -     Effect
  
  of conversion of shares into stock 
   Where a company having a share capital has converted any
  
  of its shares into stock, and given notice of the conversion to the Registrar,
  
  all the provisions of this Act which are applicable to shares only, shall cease
  
  to apply as to so much of the share capital as is converted into stock.