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Question

Forfeiture of shares results in compulsory termination of _____________ due to non-payment of allotment/call money.

A
allotment
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B
membership
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C
subscription
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D
issue
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Solution

The correct option is B membership
In absence of payment of allotment money by the shareholders, shares can be forfeited by the company. In case of forfeiture of shares, the membership is compulsorily terminated.

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