Question - 46

Naman Ltd. issued 20,000 shares of Rs. 100 each payable Rs. 25 on application, Rs. 30 on allotment, Rs. 25 on first call and the balance on final calls money duly received except anubha, who holding 200 shares did not pay allotment and calls money and Kumkum who holding 100 shares did not pay both the calls the directors forfeited the shares of Anubha and Kumkum.

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