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 circular contains reconciliation data showing shares that have been forfeited due to non-payment of call money by shareholders as of February 25, 2025.

Key Points

  • Forfeiture involves partly paid equity shares with face value Rs. 6/- (NER series) and Rs. 3/- (NEP series)
  • Reconciliation data shows DNR (Demat Request) loaded and not loaded positions as of January 23, 2025
  • Multiple folio numbers and certificate ranges are affected
  • Share quantities range from 4 shares to over 36,000 shares per folio
  • Both NER 6/- PP and NEP 3/- PP series shares are included in the forfeiture

Regulatory Changes

No new regulatory changes introduced. This is an execution of existing forfeiture provisions for partly paid shares.

Compliance Requirements

  • Affected shareholders lose their rights to the forfeited shares
  • Company must update its share register to reflect the forfeiture
  • Depositories need to update records for demat shares
  • Trading members should note the impact on client holdings

Important Dates

  • Reconciliation date: February 25, 2025
  • DNR not loaded reference date: January 23, 2025
  • Circular date: July 28, 2025

Impact Assessment

The forfeiture affects specific shareholders who failed to pay call money on partly paid shares. Impact is limited to Tulsyan NEC Ltd shareholders and does not have broader market implications. The company’s paid-up capital structure will be adjusted following the forfeiture process.

Impact Justification

Share forfeiture affects specific shareholders but has limited broader market impact