Outcome of the Right Issue Committee Meeting of the Board of Directors held on March 16,2026
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Suraj Industries Ltd held a Rights Issue Committee meeting on March 16, 2026, to review the response to its First Call Money notice. Out of 90,16,739 partly paid-up rights equity shares on which Rs. 9.02 crore was due, shareholders paid Rs. 8.85 crore for 88,48,110 shares. These shares will be converted from Rs. 2.5 paid-up to Rs. 5 paid-up status, and the company is now processing listing and trading approvals. For the remaining 1,68,629 shares where Rs. 16.86 lakh is still unpaid, a second and final reminder-cum-forfeiture notice will be issued between March 20 and April 3, 2026. The company has also decided to waive off the 12% per annum interest that was originally chargeable for non-payment of the first call money.
For shareholders who paid the first call money, their partly paid-up shares will now move to a higher paid-up value, increasing their effective holding value. For those who haven't paid, there is one final chance (until April 3, 2026) before the shares are likely forfeited, with the 12% penalty interest also waived off as a goodwill gesture.