\textbf{Case Study Description:}Review the share allotment data for Eicher Ltd. to answer the questions:Eicher Ltd. issued $50,000$ equity shares of $\text{Rs. }10$ each at a premium of $\text{Rs. }5$ per share, payable as follows:\begin{itemize}\item On Application: $\text{Rs. }3$ per share\item On Allotment: $\text{Rs. }5$ per share (including $\text{Rs. }3$ Premium)\item On First Call: $\text{Rs. }5$ per share (including $\text{Rs. }2$ Premium)\item On Final Call: Balance amount\end{itemize}Applications were received for $72,000$ shares. The Directors allotted $50,000$ shares on a pro-rata basis to applicants who applied for $65,000$ shares, rejecting the remaining applications. The excess application money received was adjusted against the amount due on allotment. All amounts due were received except for the first call from Rahul, who had applied for $2,600$ shares. His shares were forfeited immediately after the non-payment of the first call. These forfeited shares were later reissued at the minimum possible reissue price.Before a company can legally forfeit a shareholder's shares for non-payment of calls, which corporate body is authorized and required to issue the formal forfeiture notice?

1. A
   Board of Directors
2. B
   Company Promoters
3. C
   Corporate Employees
4. D
   General Members