CUET Preparation Today
Shares can be forfeited: |
For failure to attend meetings For failure to repay the loan to the bank For which shares are pledged as a security For non-payment of call money |
For non-payment of call money |
The correct answer is Option (4) → For non-payment of call money A company can forfeit shares when a shareholder fails to pay the call money (i.e., allotment money, first call, or final call) within the stipulated time even after due notice. |
