Question
Explain the procedure of forfeiting the shares. What is the effect of forfeiture? How forfeiture is different from surrender of shares?
16 Nov 2025
Answer :
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Forfeiture of shares is a process under company law where a company cancels the shares of a shareholder due to non-payment of calls or other contractual obligations. The procedure for forfeiting shares is generally governed by the provisions of the Companies Act and the Articles of Association of the company. Initially, when a shareholder fails to pay a call money within the specified time, the company issues a notice to the shareholder demanding payment of the overdue amount. This notice usually specifies a period within which the payment must be made. If the shareholder still fails
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