Calls in Arrears refers to the unpaid amount by a shareholder on allotment or any call. When a shareholder doesn't pay the required installment, it becomes calls in arrears.
Match: (A) → (III)
Calls in Advance occurs when shareholders voluntarily pay amounts before they are called by the company. Table 'F' of the Companies Act permits the company to pay interest on such advance payments at a rate not exceeding 12% per annum.
Match: (B) → (IV)
Forfeiture of Shares is the process where the company takes back shares from shareholders who fail to pay one or more installments (allotment money and/or call money). It is a penalty for non-payment.
Match: (C) → (I)
Under Subscription is a scenario where fewer shares are applied for than the number offered for subscription. This means public demand is less than the shares available.
Match: (D) → (II)
The correct matching is: (A) - (III), (B) - (IV), (C) - (I), (D) - (II)
Correct Answer: Option 4