Bank Ltd. the bankers of he comparr , the preparation , published in the newspaper informing

When the company requires additional capital the directors feel that a call should be made, a meeting of the Board IS convened to pass a resolution to that effect. The resolution should specify the ainount of the ca . he date by which the payment must be made anti the place of payment :1 resolution usually takes the following form Resolved that a call of Rs...per share on....Equitv shares of Rs..e
company on the members of the company and the sate
INCORP02ATION OF A COMPANY i 183
made pavab!e or ' e of e the .day of 19.. Bank Ltd. the bankers of he comparr . rmd t al all calls arpa i by that date shall bear interest at the rate of. per cent per ann nn from the date mentioned above umttl parent.'
T. Board also authonses the Secretary to take.necessary steps in this matter. knower resolution of the passed giving authontv to the Secretary to close the transfer books of the company for the required period. The Secretary then proceeds-to prepare the 'Cail List' it is a list of thepersons of whom the call notice should be served. It is prepared from the Register of IVIembe.rs and contains the following
(i) Names and address of the members, (ii) number of shares held by each member; (iii) amount due on call; (iv) amount paid in advance, if any; and (v) balance to be paid.
After the preparation of the Call List, the Secretarv begins to issue Call Letters (al so known as 'Call Nohces') to all members from whom call money is due. Sometimes, a call liobce is published in the newspaper informing the shareholders that a call has been This is usually dope by large compames. The call letters or nobces specify the amount of call money due, the date by v.the payment IS to be inade and the place of payment. The call letter consists of three parts: the call letter proper, a receipt for the call money and a 'call slip', with perforation m between. The members are requested to present the entire call letter to the company' bankers, along with the call money On receipt of the same, the bankers will return the-call letter and the receipt to the shareholders. The bankers will retain the call slip with them, to be forwarded to the company after the details aTe noted on it The call money is credited by the bankers to spec al account opened for the purpose. On receipt of the call slips, the Secretary enters the necessary details in the call List. (Specimens of Call Letter'. Call Notice' in newspaper and 'Call List' are given on pages 1:250, 1.251 and 1.252)