Section 32 in The Orissa State Financial Corporation General Regulations, 2003
32. Shareholder liable to pay money owing at the time of forfeiture and interest.
- Any shareholder whose shares have been forfeited shall, not-withstanding the forfeiture, be liable to pay and shall forthwith pay to the Corporation all calls, installments, interest, expenses and other moneys owing upon or in respect of such shares at the time of 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.
