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Board Question Paper : May 2021 — Elements of Account STD 12 Commerce — Question

Gujarat BoardEnglish MediumSTD 12 CommerceElements of AccountBoard Question Paper : May 20211 Mark
Question
What is meant by share forfeiture ?
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Answer

Due to any reason, if any shareholder fails to pay the amount due on allotment or on any call within the informed specified period (by notice) by company, then formalities is known as forfeiture of share.

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