Det Ltd. has made a final call of ₹ 5 on the shares of ₹ 10 each on the total allotment of 2,50,000 shares made on 30 th June, 2018. Out of this, 2,15,000 shares have been paid fully by the allottees and the balance call

As per provisions under Regulations 48 of the SEBI (ICDR) Regulations, 2018, it has to be ensured that the entire subscription money, if made in calls, the outstanding subscription money is called within 12 months from the date of allotment and if any applicant fails to pay the call money within the said twelve months, the equity shares on which there are calls in arrear along with the subscription money already paid on such shares shall be forfeited. However, it shall not be necessary to call the outstanding subscription money within twelve months, if the issuer has appointed a monitoring agency. In the mentioned case, considering the size of issue which is less than ₹ 100 Crore, appointment of monitoring agency was not required, so the outstanding subscription money is correctly called within 12 months from the date of allotment and if any applicant fails to pay the call money within the said twelve months i.e. up to 30th June 2019, then the equity shares on which there are calls in arrear along with the subscription money already paid on such shares shall be liable to be forfeited.