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Ram who had applied for 300 shares but was alloted only 200 shares of rs. 20 each, failed to pay the sllotment money of rs. 6(including pemium of rs.2) and 1st call of rs.5 and had paid just application money of rs.5 each. Thus, his shares were forfeited and 100 of these shares were reissued for rs.19 per share fully paid up.
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Ram who had applied for 300 shares but was alloted only 200 shares of ...
Background:
Ram applied for 300 shares of Rs. 20 each but was allotted only 200 shares. He failed to pay the allotment money of Rs. 6 (including premium of Rs. 2) and 1st call of Rs. 5 and had paid just application money of Rs. 5 each. Therefore, his shares were forfeited.
Forfeiture of Shares:
Forfeiture of shares means the cancellation of shares by the company due to non-payment of calls or any other reason. In Ram's case, the shares were forfeited because he failed to pay the allotment and call money.
Reissue of Shares:
After the forfeiture of shares, the company can reissue them. In Ram's case, 100 shares were reissued at Rs. 19 per share fully paid up. This means that the reissued shares were sold at a price that includes the face value of the share as well as the amount of the calls that Ram failed to pay.
Implications:
For Ram, the forfeiture of shares means that he lost his investment in the company. He will not receive any dividends or other benefits from the company. On the other hand, the company was able to reissue the forfeited shares and raise additional capital. The reissued shares were fully paid up, which means that the company received the full amount of the calls that Ram failed to pay.
Conclusion:
Forfeiture of shares is a serious matter for both the shareholder and the company. It is important for shareholders to pay the calls on time to avoid forfeiture of shares. For companies, forfeiture of shares can be an opportunity to raise additional capital by reissuing the forfeited shares.
Ram applied for 300 shares of Rs. 20 each but was allotted only 200 shares. He failed to pay the allotment money of Rs. 6 (including premium of Rs. 2) and 1st call of Rs. 5 and had paid just application money of Rs. 5 each. Therefore, his shares were forfeited.
Forfeiture of Shares:
Forfeiture of shares means the cancellation of shares by the company due to non-payment of calls or any other reason. In Ram's case, the shares were forfeited because he failed to pay the allotment and call money.
Reissue of Shares:
After the forfeiture of shares, the company can reissue them. In Ram's case, 100 shares were reissued at Rs. 19 per share fully paid up. This means that the reissued shares were sold at a price that includes the face value of the share as well as the amount of the calls that Ram failed to pay.
Implications:
For Ram, the forfeiture of shares means that he lost his investment in the company. He will not receive any dividends or other benefits from the company. On the other hand, the company was able to reissue the forfeited shares and raise additional capital. The reissued shares were fully paid up, which means that the company received the full amount of the calls that Ram failed to pay.
Conclusion:
Forfeiture of shares is a serious matter for both the shareholder and the company. It is important for shareholders to pay the calls on time to avoid forfeiture of shares. For companies, forfeiture of shares can be an opportunity to raise additional capital by reissuing the forfeited shares.
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Ram who had applied for 300 shares but was alloted only 200 shares of rs. 20 each, failed to pay the sllotment money of rs. 6(including pemium of rs.2) and 1st call of rs.5 and had paid just application money of rs.5 each. Thus, his shares were forfeited and 100 of these shares were reissued for rs.19 per share fully paid up.
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Ram who had applied for 300 shares but was alloted only 200 shares of rs. 20 each, failed to pay the sllotment money of rs. 6(including pemium of rs.2) and 1st call of rs.5 and had paid just application money of rs.5 each. Thus, his shares were forfeited and 100 of these shares were reissued for rs.19 per share fully paid up. for Class 12 2024 is part of Class 12 preparation. The Question and answers have been prepared according to the Class 12 exam syllabus. Information about Ram who had applied for 300 shares but was alloted only 200 shares of rs. 20 each, failed to pay the sllotment money of rs. 6(including pemium of rs.2) and 1st call of rs.5 and had paid just application money of rs.5 each. Thus, his shares were forfeited and 100 of these shares were reissued for rs.19 per share fully paid up. covers all topics & solutions for Class 12 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Ram who had applied for 300 shares but was alloted only 200 shares of rs. 20 each, failed to pay the sllotment money of rs. 6(including pemium of rs.2) and 1st call of rs.5 and had paid just application money of rs.5 each. Thus, his shares were forfeited and 100 of these shares were reissued for rs.19 per share fully paid up..
Ram who had applied for 300 shares but was alloted only 200 shares of rs. 20 each, failed to pay the sllotment money of rs. 6(including pemium of rs.2) and 1st call of rs.5 and had paid just application money of rs.5 each. Thus, his shares were forfeited and 100 of these shares were reissued for rs.19 per share fully paid up. for Class 12 2024 is part of Class 12 preparation. The Question and answers have been prepared according to the Class 12 exam syllabus. Information about Ram who had applied for 300 shares but was alloted only 200 shares of rs. 20 each, failed to pay the sllotment money of rs. 6(including pemium of rs.2) and 1st call of rs.5 and had paid just application money of rs.5 each. Thus, his shares were forfeited and 100 of these shares were reissued for rs.19 per share fully paid up. covers all topics & solutions for Class 12 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Ram who had applied for 300 shares but was alloted only 200 shares of rs. 20 each, failed to pay the sllotment money of rs. 6(including pemium of rs.2) and 1st call of rs.5 and had paid just application money of rs.5 each. Thus, his shares were forfeited and 100 of these shares were reissued for rs.19 per share fully paid up..
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Here you can find the meaning of Ram who had applied for 300 shares but was alloted only 200 shares of rs. 20 each, failed to pay the sllotment money of rs. 6(including pemium of rs.2) and 1st call of rs.5 and had paid just application money of rs.5 each. Thus, his shares were forfeited and 100 of these shares were reissued for rs.19 per share fully paid up. defined & explained in the simplest way possible. Besides giving the explanation of
Ram who had applied for 300 shares but was alloted only 200 shares of rs. 20 each, failed to pay the sllotment money of rs. 6(including pemium of rs.2) and 1st call of rs.5 and had paid just application money of rs.5 each. Thus, his shares were forfeited and 100 of these shares were reissued for rs.19 per share fully paid up., a detailed solution for Ram who had applied for 300 shares but was alloted only 200 shares of rs. 20 each, failed to pay the sllotment money of rs. 6(including pemium of rs.2) and 1st call of rs.5 and had paid just application money of rs.5 each. Thus, his shares were forfeited and 100 of these shares were reissued for rs.19 per share fully paid up. has been provided alongside types of Ram who had applied for 300 shares but was alloted only 200 shares of rs. 20 each, failed to pay the sllotment money of rs. 6(including pemium of rs.2) and 1st call of rs.5 and had paid just application money of rs.5 each. Thus, his shares were forfeited and 100 of these shares were reissued for rs.19 per share fully paid up. theory, EduRev gives you an
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