All three reissue of Forfeited Shares cases with the Golden Rule and a comparison table.
A Quick Story
After forfeiture, the cancelled shares belong to the company. The Board can sell them again to a new buyer — like a showroom selling back a cancelled iPhone at a discount. This sale is called Reissue. It is not a fresh issue, so the prohibition on issuing shares at a discount (Sec. 53) does NOT apply.
Swathika B is an MBA graduate in Finance & Business Analytics , the founder of The Commerce Lab. With a strong academic foundation in B.Com BFSI and hands-on experience in financial analysis, data analytics, and business studies, she created this platform to make Commerce and Accountancy simple, practical, and exam-ready for students across India.