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What is Pro Rata Allotment and Forfeiture Guide about?

Monika Beauty Products issued 20,000 shares at Rs. 10 each with a Rs. 2 premium payable as follows: - Rs. 2 on application - Rs. 5 on allotment (including premium) - Rs. 3 on first call - Rs. 2 on second call Applications were received for 30,000 shares but only 24,000 were allotted. Reethika failed to pay allotment and her 400 shares were forfeited. Bithika failed to pay the two calls on her 600 shares, which were then forfeited after the second call. Reethika

Author

Madhvi Gaur.

Language

EN