Cancellation of shares-companies act, 1956

Rahul Gogate (Chartered Accountant) (213 Points)

07 December 2013  
which is the situation in which Section 94 (1) (e) of Companies Act, 1956, regarding cancellation of shares, finds practical application?? Is it applicable in case of shares forfeited by the company..and not re-allotted to anybody??