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LoginWhat are Calls on shares?
General Awareness General QA . 2 years ago
+10 pts
- Whenever a company issues shares, the company may ask its shareholder to pay value of shares in installment which is known as calls on shares.
- Company can demand part or full amount of balance amount of unpaid shares.
- Beside the application money and allotment money if a company demands the balance unpaid amount on shares it is called as calls on shares.
- The unpaid amount on partly paid-up shares is a liability of the shareholders.
- Calls on shares can be made by the Board of Directors in the interest of the company.
- To make a call on shares, company has to send a call letter or notice to the shareholders. This notice is drafted by a secretary and issued in the name of the board of directors. The company gives them a minimum of 14 days notice to pay calls money to the Company’s Banker.
- No call can be made for more than 25% of the nominal value of shares.
Posted on 06 Oct 2022, this text provides information on General Awareness related to General QA. Please note that while accuracy is prioritized, the data presented might not be entirely correct or up-to-date. This information is offered for general knowledge and informational purposes only, and should not be considered as a substitute for professional advice.
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