Forfeiture of Equity Shares
In spite of the several reminder notices including the final reminder notice, informing Shareholders holding partly paid Equity shares, that on their failure to pay the allotment money their shares would be forfeited.The defaulting Shareholders have failed to pay up the allotment money due, of Rs.5/- per share. Hence the board, at their meeting held on, 13 August 2014, forfeited 363900 number of equity shares in the capital of the company for non-payment of allotment money of Rs.5/-per share. Subsequently as authorized by the Board the Share Transfer committee of the company at their meeting held on 30/08/2014 has annulled the forfeiture of 2500 shares and at the board meeting held on 13/11/2014 has again annulled the forfeiture of 900 shares. Further the Board of Directors at their meeting held on 19th January, 2016 has annulled the forfeiture of 1000 shares.