Call payment timeline: unpaid calls after twelve months may lead to forfeiture unless a monitoring agency is appointed.

Issuers receiving subscription monies by calls must call outstanding call money within twelve months from allotment; failure to pay within that period results in forfeiture of the equity shares and the subscription money already paid on those shares, except where the issuer has appointed a monitoring agency under regulation 82, in which case the twelve month calling requirement does not apply.

---

---

---