question_answer

Gagan Ltd. invited applications of 45,000 Equity Shares of Rs.10 each at a Premium of 40%. Company received applications for 60,000 shares. Amount payable as follows: on Application Rs.7 (including premium of Rs.2), on Allotment Rs.3(including premium of Rs.1), Balance on first and final call. One shareholder Megha who applied for 600 shares failed to pay allotment and first and final call money. Amount of share forfeiture (credited at the time of forfeiture of shares):

A) 3,300

B) 2,250

C) 3,150

D) 4,200