Submission of Intimation of Approval of Forfeiture of 7,54,452 partly paid shares on which first and final call money remains unpaid.
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JMJ Fintech's Board has approved the forfeiture of 7,54,452 partly paid-up equity shares. These shares had a First and Final Call Money outstanding, and despite the Company issuing a call notice on 23rd December 2025 and a final reminder-cum-forfeiture notice on 10th March 2026, the shareholders failed to pay. Under the Companies Act, 2013 and the Articles of Association, the Board has now forfeited these shares including all amounts previously paid. Post-forfeiture, the Company's fully paid-up equity share capital stands at 3,76,45,548 shares of Rs.10 each, totaling Rs.37,64,55,480.
Shareholders whose shares were forfeited lose their entire investment in those shares. Remaining shareholders benefit as the per-share ownership in the company increases as the total share count reduces.