Description
BSE announces forfeiture of partly paid equity shares of Tulsyan NEC Ltd due to non-payment of call money by shareholders.
Summary
BSE has issued a circular regarding the forfeiture of partly paid equity shares of Tulsyan NEC Ltd. The document contains reconciliation data showing DNR (Do Not Recognize) records for both NER 6/- PP (partly paid shares at Rs. 6) and NEP 3/- PP (partly paid shares at Rs. 3) categories as of February 25, 2025.
Key Points
- Forfeiture involves both NER 6/- PP and NEP 3/- PP category shares
- DNR reconciliation conducted as of February 25, 2025
- Multiple folio numbers affected with varying share quantities
- Shares were forfeited due to non-payment of call money by shareholders
- Certificate numbers and share holdings detailed in reconciliation reports
Regulatory Changes
No new regulatory changes introduced. This is an operational circular implementing existing forfeiture provisions under company law.
Compliance Requirements
- Tulsyan NEC Ltd must update its share capital records
- Affected shareholders lose their rights to the forfeited shares
- Company must comply with statutory requirements for share forfeiture process
- Updated shareholding pattern to be filed with BSE
Important Dates
- DNR reconciliation date: February 25, 2025
- Previous DNR status check: January 23, 2025
- Circular publication: July 28, 2025
Impact Assessment
The forfeiture reduces the outstanding partly paid share capital of Tulsyan NEC Ltd. Affected shareholders lose their investment in these shares and any rights associated with them. The company’s total number of shareholders and paid-up capital will be reduced accordingly. This action may impact the company’s liquidity and market perception.
Impact Justification
Share forfeiture affects existing shareholders and reduces outstanding share capital