CBSE Class 12-commerce Answered
Can a campnay issue its forfeited shares at discount? As per company act,2013, shares can't be issued at discount. The discount part is only fro sweat equity shares or some other categories? Pl. Clearify. Thanks
Asked by Opkapoor90 | 18 Aug, 2019, 12:23: PM
Expert Answer
Reissue of Forfeited Shares means the selling of shares that were cancelled by the company in the event of forfeiture. Such forfeited shares can reissued by the company at par, premium or discount. If issued at discount, the amount of discount should be within the maximum permissible limits.
Therefore, it is important to remember that the maximum permissible discount that can be allowed on reissue of forfeited shares is the amount forfeited, i.e., the amount credited to the forfeited shares. In simple terms, the reissue price cannot be less than the amount unpaid on the forfeited shares.
Answered by Surabhi Gawade | 18 Aug, 2019, 11:14: PM
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