Accountancy, asked by rk075961, 4 months ago

What are the legal requirement followed by the
board before for forfeiture of share

Answers

Answered by Anonymous

Answer:

The following procedure must be followed for forfeiture of shares: 1. The secretary shall prepare a list of defaulters i.e., the list of members who have not paid the call money up to the last date, and place it before the Board of Directors for necessary action. 2.

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