Treatment of forfieture in ROC?

sucheta (cs inter and CA FINAL student)   (598 Points)

02 December 2010  


Suppose a Company received 5000/- for share application from his applicant.The applicant could not pay any amount on all the calls.Plz do tell me the treatment :-

i) if the company forfeiture the share?

ii) if company allot the share to applicant Rs. 5000/-