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Forfeiture of Shares-Issued at Premium

Which of the ...

Question

Which of the following securities cannot be forfeited for non-payment of allotment or call money?

A

Equity shares

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B

Preferences shares

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C

Debentures

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D

Both (A) & (B)

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Solution

The correct option is A Debentures
Only equity and preference shares can be forfeited for non-payment and under the provisions of Companies Act, 2013 debentures cannot be forfeited by company.

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