In case of forfeiture of shares, a notice requiring payment of the amount together with any interest accurred must be served mentioning a further day not less than ________ from date of service of the notice.

7

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10

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14

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15

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Solution

The correct option is C $14$
As per Companies Act, at least 14 days of notice is required to be served to the shareholders only after which forfeiture of shares can be undertaken.
Since forfeiture leads to striking off the shareholder's name from the company's register, minimum numbers of days are to be given to repay the outstanding amount.
Artice of Association has provisions regarding Forfeiture of Shares.

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