Communication to shareholders holding partly paid up equity shares of the company
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National General Industries Ltd has sent the second and final reminder to shareholders who have not yet paid the remaining allotment money on partly paid-up equity shares from its 1995 public issue. The original issue of 30,26,600 shares at Rs. 15 each had Rs. 5 paid at the time of application in 1996, and Rs. 10 per share (Rs. 7.50 face value + Rs. 2.50 premium) is still due. Along with interest at 12% per year for FY 1996-97 to 2023-24 (Rs. 33.60 per share), the total amount payable comes to Rs. 43.60 per share. The last date to pay is 15th May 2025 by demand draft sent to the company's registered office in New Delhi. If shareholders fail to pay, their shares — including the amount already paid — will be forfeited.
Shareholders who do not pay by 15th May 2025 risk losing their entire shareholding from the 1995 issue, with no refund of the original Rs. 5 per share already paid. For the stock, the resolution of these long-pending partly paid shares — either through payment or forfeiture — will clear a three-decade-old overhang on the share structure.