The provismn as detailed , Board of Directors, Secretaly to send call

Procedure Regarding forfeiture. The provismn as detailed above must be followed rigidly while adopting a resolution for ta a decision on forfeiture and thenafter a rigid procedure must be adopted, otherwise the forfeiture may be set aside as invalid The following procedure should be adopted in this counectio n
I The secretary firstprace before the meeting of the Board of Directors the list of defaulting sl areholders in all details
2', The Board, thereafter, adopts a resolution authorlsing the Secretaly to send call reminders to the defaulters, to pay the calls dues together with interest
3 The Board, after the expiry of the stipulated date again meets and passes a resolution authonsing the Secretary to send a Warnfilg Nohce (know, n as final reminder), as provided by the Articles, to the defaulters warning them that if the dues together with interest are not paid, their shares w 11 be forfeited The final Teminder is also a notice of 14 days
4, Extracts of the relevant portion of the Articles must be enclosed with tl e final notice:
5 if the final reminder also fails the company rnaY send a notice to inform the defaulting shareholders that their shares if be forfeited if the dues together with-interest are not paid by the specified date
G A meeong of the Board is cone cried to initiate forfeiture if this reminder also fails In this meeting a resohnion is a
ISSUE C3F DUPLICATE SHARE CERTIFICATES
When the share certificate is lost by a member the procedure he should adopt to get a fresh one issued to him is as under:
Loss of Share Certiticate. A sitars certificate may be lost N and member. It may also be either defaced or mutilated or torn. It ma also be dest loyed In all these cases original share certificate issuedby the comp ..is taken as lost as it cannot be used. particularly when the holder N-ants to transfer the same .
The Companies (issue of Share certificate) i ules-'1960 governs the Rules of the issue of Duplicate Certificatc. 'under these rules:
(i) The Company Impose cer ain cone. ions
(ii) The Company may askfor reasonable Nidenceofloss or destruction of the original certificate.
(iii) The Conrp f en may ask for indemr letter Did or a bank guarantee. ' ( INN) The Company man ask tor payment of incidental expenses etc. for the issue ot duplicate share certif cate.
(v) The Company ma Y charge Rs. 2 per certificate if the Arhcies permit.
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the Secretaryto send a registerednotice.offorfeiture to the defaulung member informing him about the forfeiture.
7. The Secretary here is required to give a public notice in the leading newspaper in respect of the forfeiture.
8. The Secretarv is also required to Intimate the stock change(s) about the forfeiture giving all the details,
9. The Secretary is also required to strike off flee name of the defaulter from the Register of Members.
With this the forfeiture proceedings get completion.