Intimation regarding communication dispatched to partly paid up equity shareholders regarding forfeiture of paid amount
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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
National General Industries has sent forfeiture notices to shareholders who failed to pay the remaining call money on partly paid-up equity shares issued way back in 1995 (Letter of Offer dated 5 January 1995 — 30.26 lakh shares at Rs 15 each). After several reminders, the last payment deadline was 30 July 2025. At the Board meeting on 14 November 2025, the directors decided to forfeit these shares along with the amount already paid (about Rs 5 per share, comprising Rs 2.50 face value and Rs 2.50 securities premium). For example, shareholder Subhash Chand Gupta is losing 1,000 shares and Rs 5,000 already paid. The notice clarifies that all rights attached to these shares stand extinguished and the shares revert to the company, which may re-allot or cancel them. The total number of shares affected is not disclosed in the intimation but appears to be limited to a handful of shareholders.
This is long-pending housekeeping related to a 1995 rights issue and has negligible impact on the stock price or existing shareholders. Affected parties lose both the unpaid shares and the money already paid on them; the freed-up shares stay with the company and may be reissued later, but the scale is too small to materially affect shareholding or earnings.