Can fully paid preference shares forfeited?

Vasudevan C P (403 Points)

23 May 2022  
Esteemed Experts,

Company X issued convertible preference shares 5 year ago, fully paid. Now it's matured and 1/5th has been converted to share capital. BAl. shares neither redeemed or issued afresh. Can the company forfeit bal. shares capital? please guide

Thanks in advance