how can we write off forfeited amount if transffered in general reserve
vinay kumar (Accountant) (54 Points)
30 July 2015how can we write off forfeited amount if transffered in general reserve
Rama chary Rachakonda
(Master in Accounts & Lawyer email ID:ramachary64@gmail.com voice no:9989324294)
(3288 Points)
Replied 12 August 2015
The directors of the company are empowered to re-issue the forfeited shares if authorized by its articles. A forfeited share may be sold or otherwise disposed of, on such terms and in such manner as the Board thinks fit. Such shares may be re-issued at par, at a premium or even at a discount.