Fully paid up shares forfeiture
This query is : Resolved
04 October 2008
Can fully paid up shares be forfeited?
04 October 2008
No
04 October 2008
How can this arise?
04 October 2008
Hello sirs,
I have just completed my CA final in may 2008. one of my friends who is in PCC now brought the above question which was asked in the may 2003 exam of ca inter which i am sorry to say that i had overlooked. The answer was vague but in brief it was stated that if the share holder has got some debts against the company and does not pay them on time then FULLY PAID UP SHARES of the company which he had purchased can be forfeited....Kindly check into it again and reply.
Thanking you for your prompt replies.
Anup Kapur
I have just completed my CA final in may 2008. one of my friends who is in PCC now brought the above question which was asked in the may 2003 exam of ca inter which i am sorry to say that i had overlooked. The answer was vague but in brief it was stated that if the share holder has got some debts against the company and does not pay them on time then FULLY PAID UP SHARES of the company which he had purchased can be forfeited....Kindly check into it again and reply.
Thanking you for your prompt replies.
Anup Kapur
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Tax on Deemed Capital Gain
- F & O PROFIT REPORTING FOR AY 2026-27
- Type of Capital Gain
- Exiting partner in partnership firm in gst portal
- Regarding ITR filing with more value than showing in AIS/TIS
- TDS _Long term Capital Gain ref.sec 214 Table 2
- TAX AUDIT QUESTION
- ASMT-10 received from A O
- Banking Related Issue
- ITR-Capital Gain
- Seeking Advice: High Tax Shortfall on Job Switch + Let-Out House Property Loss in FY 2025-26
- TDS offline utility
- TDS on rent received on hardship compensation being rent on redevelopment of building
- Housing Society-ITR5
- TDS on Rent received on redevelopment of building
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- Upload Level ValidationITR3Category of Defect B/D
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
