what do you understand by forfeiture of share
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Forfeiture of shares means cancellation of shares as such whatever amount has already been received on shares being forfeited is seized. The shareholder, who applies for the shares of the company makes an offer on the one hand, and on the other hand company by accepting or allotting shares accords acceptance.
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A forfeited share is a share in a publicly-traded company that the owner loses (or forfeits) by neglecting to live up to any number of purchase requirements
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