By virtue of IPO IN 1993-1994 FY some allotment money arrears ( appllication - Rs.5/- allotment money Rs.5/-) @Rs.5 on 49600/- shares are unpaid by shares and remains as partly paid up shares till today. But due to loss of data company is not having the details of partly paid up share public shareholders, thereby company unable to forfeit. What is the solution to clean up the balance sheet. If the company is unable to identify the shareholders and call the arrears from them what is the use of keeping that partly paid up shares years together? can't the company make them as fully paid in the interest of shareholders (without forfeiting and without reduction and without depriving the interests of shareholders)? * total number of fully paid shares re 9432040 Nos. If the company keeps it for years together how it can decide the voting rights at the time of any corporate actions of such company?

Restructuring

Posted By: Priyadarshini 7 year(s) ago