Companies Act, 1956
Sec 86 - New
issues of share capital to be only of two kinds
The share capital of a company limited by shares shall be of two
kinds only, namely :
(a) equity share capital ; and
(i) with voting
rights; or
(ii) with differential rights as to dividend,
voting or otherwise in accordance with such rules and subject to such
conditions as may be prescribed.
(b) preference share capital.