What is forfeiture and lean of shares, acc to companies Act
?
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Answer / samama suhail
Shares may be forfeited if a member fails to pay any call
or instalment of a call on or before the day appointed for
payment of the same. Forfeiture of shares can be done by
the board only after following the prescribed procedure and
giving reasonable op portunity to the member to pay the
arrears of call:
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