Alteration of articles of association

Articles often provide for forfeiture of shares for non-payment of any call or installment of a call. Shares can be forfeited for non-payment of any call or installment of a call if and only if special and clear power in the articles is given to the directors to do so. 

First alter your AOA and proceed further.

First your should alter your articles and provide clear provisions for the buyback of shares or Adopt Table A by ways of passing special resolution then proceed for Buy Back.

thank you all for your expert opinion. I shall proceed accordingly

i am facing a similiar problem as explained by ms. smitha.

is it possible, that instead of going for share forfeiture as currently the MoA doesn't allow, the defaulting shareholders(willingly) surrender the shares, post surrender, the surrendered shares are re-allotted.

also,

suppose if i want ot forfeit shares in june 2011, if i alter my memorandum via a special resolution dated june 2011 and file form 23 in aug 2012 for intimation of special resolution with penalty for late filing, will the alteration be effective from july 2011 or aug 2012,consequently affecting my intended share forfeiture of june 2011.

also am i correct that no specific form need to be filed with RoC for share forfeiture?