How premium received on re-issue of forfeited share should be treated?

Credited to Securities Premium a/c

When forfeited shares are reissued at a premium (meaning the reissue price is higher than the forfeited amount), the premium amount received is credited to the "Securities Premium Account." This account records the amount received above the face value or the amount forfeited on the reissued shares. It represents the excess amount paid by new shareholders over the original value of the shares and is a type of reserve that can have specific uses under legal and regulatory requirements.