Is there an upper limit on timeline by which a company that has issued partly paid shares must call for full payments and convert them to fully paid up shares.
For eg. Bharti Artel issued partly paid shares in November 2021 to existing shareholders against the first call made at that time. These shares are traded under a separate ISIN but with a much lower volume, which is understandable as I would guess that the only people trading these would be the ones already holding them and not someone building a fresh long term investment position (they wud prefer the full paid up ones).
My query is, whether there is any upper limit to the timeline, by when the company must call for the remaining payments from the holders and convert these to fully paid regular shares, or can they continue to keep it in a patly paid status perpetually or very long periods like 5 - 10 years. I am assuming that the company is doing well and does not need to any external borrowing.
In addition can the company issue fresh fully paid up shares (other than ESOPs) during the time when they have partly paid shares open in the market.
