Shares can be forfeited for :

Non-Payment of call money

The correct answer is option (1)- Non-Payment of call money.

Shares can be forfeited for Non-Payment of call money.

Shares are forfeited when a shareholder fails to pay the calls (amounts due on shares) within the specified time frame, the company may choose to forfeit the shares. The forfeiture is a punitive action, and the forfeited shares amount is not refunded. It will be of the company. The shareholder is given notice of the intention to forfeit the shares, providing them with an opportunity to rectify the default. If after notice they do not pay the amount, the shares are forfeited, they are cancelled, and the shareholder loses all rights associated with those shares. The Company may choose to reissue the forfeited shares to new shareholders.