Amount forfeited against sale of unlisted share

Forfeited amount is the value of shares forfeited. These transactions are equity instruments and capital gains arise n trading instruments, 

This resource will help you to understand forfeiting shares and reissuing shares with a profit or loss. Where to recognise profit or loss as well from reissue. Capital gains is not a tax rule here and one can ignore that philosophy.

https://www.toppr.com/guides/principles-and-practices-of-accounting/issue-forfeiture-reissue-of-shares/reissue-of-forfeited-shares/

Sir, You must be an underwriter or a broker in this case. Your are liable for any losses if there is no payment transferred to the principal. These are sebi rules for listed brokers. I’m sure, you will not be held responsible for forfeiture, but you need to transfer that money to the company and they will record forfeiture. You will also record forfeiture for the advance received. Usually brokers are indemnified but your case, I can’t find regulations for equity brokers online. If you were granted a commission on your sale, you can keep it or the company might not give it. Because an underwriter or a broker is a well established individual in the market who usually makes a sale. 

https://www.sebi.gov.in/sebi_data/commondocs/ch8_p.pdf

If your one of the 200 shareholders for a put company, if the shares are still on your name, then record a gain as forfeiture in your income. That’s tax and I will try and find a solution.