Company Accounts – Issue of Shares — Book Keeping & Accountancy STD 12 Commerce / Arts — Question
Maharashtra BoardEnglish MediumSTD 12 Commerce / ArtsBook Keeping & AccountancyCompany Accounts – Issue of Shares1 Mark
Question
What is Forfeiture of Shares?
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Answer
When a shareholder fails to pay the call money or premium on the shares in spite of repeated reminders and warnings, the company forfeits the shares of such defaulters known as forfeiture of shares.
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