Leave Carried Forward During Resignation

What is the stand when an employee tender before 30 Nov and last day is 31 Jan, but company has a policy saying you can only carry over a max of 10 days of leave. The employee will have 15 days of annual leave as of 31 Dec.

Can the company forfeit the 5 days and only allow him to carry over 10 days as stated in the employee handbook?

Yes, company has the right to forfeit the leave as per company policy. Your resignation doesn't void the pre-determined policy.