Arrange in correct sequence-

(A) Share Allotment

(B) Share Application

(C) Share forfeiture

(D) Share Call

Choose the correct answer from the options given below:

The correct sequence of events in the issue and management of shares is:

Share Application (B) → This is the first step where prospective shareholders submit their applications along with application money to purchase shares of the company.

Share Allotment (A) → After receiving applications, the company allots shares to applicants. The applicants become shareholders after allotment and need to pay allotment money.

Share Call (D) → The company makes calls (First Call, Second Call, Final Call etc.) to collect the remaining unpaid amount on shares from the shareholders at different intervals.

Share Forfeiture (C) → This is the last step that occurs only when a shareholder fails to pay call money despite reminders. The company then forfeits (cancels) such shares.

This logical sequence represents the complete lifecycle of share transactions - from initial application to potential forfeiture in case of non-payment.

Correct Answer: Option 3: (B), (A), (D), (C)