A company with registered capital ₹50,00,000 (1,00,000 Equity Shares of ₹50 each) was incorporated. The company issued 60,000 equity shares at a premium of ₹5 per share payable as ₹20 on application, ₹25 (including premium) on allotment, and balance as First and Final Call. Subscription for shares was for 1,10,000 shares and allotment was made as follows:
(a) Applications for 60,000 shares were allotted 30,000
(b) Applications for 40,000 shares were allotted 30,000
(c) Remaining Applications were refused allotment.
Underwriting Commission was payable @ 5% of Nominal (Face) Value of Shares, by issue of Equity Shares at par.
Sohan who was in category (a) had applied for 1,000 shares paid the amount due on call along with allotment money. Nikhil, who had applied for 1000 shares in category (a) and Vishwas who was allotted 600 Shares in Category (b) did not pay the First and Final Call and their shares were forfeited.

How much amount is transferred to the share Forfeiture account?

₹44000

Nikhil alloted share = 500
Vishwas alloted share= 600
Amount received till forfeiture = 1100 X 40 = ₹44000