Forfeiture of shares

This query is : Resolved

Dr. Sharad Garg (Querist)
Follow

06 January 2010 Does a shareholder after forfeiture of his shares, remain liable to the company for unpaid part of capital on his shares? Until when and to what extent does he remain liable?

CA Vanesh Nadar

CA Vanesh Nadar (Expert)
Follow

07 January 2010 Hi

You first have to understand the concept:

1. Share forfeiture means cancellation of Shares issued earlier on failure to pay the amount called for.

2. The Share holder should have given adequate notice in this regards.

3. Once the shares are forfeited the Shareholder would not be liable for the same nor he will be getting the refund of the money paid earlier.

With Warm Regrads
M. Vanesh Kumar
CA Students - Expert Association

Dr. Sharad Garg

Dr. Sharad Garg (Querist)
Follow

09 January 2010 How about the unpaid part of the face value of shares? Will the shareholder be liable for it after forfeiture or not?

Dr. Sharad Garg

Dr. Sharad Garg (Querist)
Follow

10 June 2010 Thanks for the response

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Summarize this with AI

ChatGPT Perplexity Claude Google AI Grok

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

B.K.RAJANDHERAAN

NITHIN GEORGE

KRK

Amit Yadav

John Ravindran Moses

Subscribe Now

Forfeiture of shares

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

Article Assistant

CA Final

Manager- Finance and Compliance

GST CONSULTANCY

GST CONSULTANT

Accountant