4. What are SHARES? Definitions: Sec 2(46) of THE COMPANIES ACT,1956: “ A share is a share in the share capital of a Company.” Boreland Trustees v/s Steel Bros. & Co. Ltd.: “ A share represents the interest of a share holder in the capital of the Company & this interest is measured by the number of shares he is holding & the amount paid by him to the Company on shares.” Thus, the amount of capital to be raised by a Company is always divided into small parts or units of equal value & these units are called SHARES