Hi
Company X raises new dentures and issues for 50 lakh. The lender buys the bonds and the company receives issue proceeds for 45 lakhs. The lender fails on his last call of 5 lakhs. What must the company do?
1. Forfeit 45 laks and go to courts and collect interest as penalty on the outstanding 5 lakhs until legal settlement
2. Create a legal provision
3. There are other procedures for this
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