Question

state any 4 effect of forefeiture of shares?​

Answer 1

Answer:

Hope it helps you

Explanation:

Forfeiture is withdrawal of shares due to non-payment of any call by the shareholder or for any other ground as may be provided in the Articles. On forfeiture of shares the member loses the amount paid thereon and his interest in the ownership of the shares.

Answer 2

Answer:

This contract makes it binding upon the shareholder to pay-up the amount due on the issue price of the share when company calls for it through the call on shares. ... Shares which are forfeited will no longer remain the shares of that shareholder. The money paid by that shareholder is also not refundable by the company.