How can a public limited company be converted to private limited if shareholders are over 500 and are not responsive i.e not responding to share buyback offer.
Is there a provision to forfeit fully paid up shares?
Menu
Converting public limited firm to private limited
Replies (1)
Forfeiture of shares can be done when the call money has not been paid by the shareholders for the amount due after due time.
A company can forfeit shares only when the Articles of Association of the company contain a provision for share forfeiture. A shareholder subscribing to the shares of a company owes the subscripttion price of the shares to the company. The company may call upon the shareholder to pay the price in instalments. The instalment payments are called call money. The call money is due from the shareholders. Non-payment of the dues can result in forfeiture of the shares.
A company can forfeit shares only when the Articles of Association of the company contain a provision for share forfeiture. A shareholder subscribing to the shares of a company owes the subscripttion price of the shares to the company. The company may call upon the shareholder to pay the price in instalments. The instalment payments are called call money. The call money is due from the shareholders. Non-payment of the dues can result in forfeiture of the shares.
Recent Topics :
- CAPITAL GAIN REG
- Built a simple tool to automate client document fo
- Capital Gain on Sale of SRA Allotted Flat Received
- Discrepancy in Auto populated figures in GSTR1 of
- What should I do after receiving a GST Show Cause
- Discuss and Download CA Inter Question Paper Septe
- Hi experts needed some help
- Gift of Immovable Property u/s 92 of Income Tax Ac
- NSE BSE Pre-open session changes from 7 September
- Financial statements for non corporate entities
Related Topics :
CAclubindia
