Section 34 in Andhra Pradesh State Financial Corporation General Regulations, 2004
34. Shareholder liable to pay money owing at the time of forfeiture and interest.
- Any shareholder whose shares have been forfeited shall, notwithstanding the forfeiture, be liable to pay and shall forthwith pay to the Corporation all calls, instalments, interest, expenses and other amounts owing upon or in respect of such shares at the time of the forfeiture with interest thereon from the time of forfeiture until payment at such rate as may be specified by the Board and the Board may enforce the payment of the whole or a portion thereof.
