If the requirements of any such notice as aforesaid are not complied with, any of the shares in respect of which such notice has been given may at any time thereafter before payment of all calls or instalments, interest and expenses or the money due in respect thereof, be forfeited by a resolution of the Board to that effect. Such forfeiture shall include all dividends declared in respect of the forfeited shares and not actually paid before the forfeiture.
Section 40: In default of payment, shares to be forfeited
Small Industries Development Bank of India (General) Regulations, 2000Central Regulations · 1989
Where this provision sits
| Act | Small Industries Development Bank of India (General) Regulations, 2000 |
|---|---|
| Section | 40 |
| Marginal note | In default of payment, shares to be forfeited |
| Jurisdiction | Central |
| Status | In force as published by the source |
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