TIL Limited forfeits 65,323 partly paid-up shares due to non-payment of call money
TIL Limited's Rights Issue Committee approved the forfeiture of 65,323 partly paid-up Rights Equity Shares due to non-payment of the final call money of ₹41.25 per share. The company will not reissue these forfeited shares. This action follows multiple notices issued to the shareholders.
The forfeiture of a relatively small number of shares (65,323 out of 1,20,91,760 allotted) suggests a limited impact on the overall company financials or operations. However, it does reflect on the success of the rights issue and investor commitment.
The company is forfeiting shares due to non-payment of call money, which is a negative event for the shareholders involved and indicates potential financial distress or inability to meet obligations for a subset of investors.
TIL Limited announced the outcome of its Rights Issue Committee meeting held on October 8, 2026. The committee approved the forfeiture of 65,323 partly paid-up Rights Equity Shares. These shares are being forfeited due to the non-payment of the first and final call money of ₹41.25 per share (₹2.50 face value and ₹38.75 premium) by the holders.
Despite multiple reminders, including a call money notice dated June 5, 2026, a first reminder dated July 15, 2026, and a second reminder-cum-forfeiture notice dated August 18, 2026, the outstanding call money remained unpaid. Consequently, these shares, along with the application money of ₹123.75 per share already paid, will be forfeited in accordance with the Companies Act, 2013, the Company's Articles of Association, and the Letter of Offer.
The company has decided not to reissue the forfeited shares. The notice of forfeiture will be issued to the affected shareholders in due course. The meeting of the Rights Issue Committee commenced at 2 p.m. and concluded at 4 p.m.
What to do with a filing like this
TIL Limited filed this with the NSE as a statutory disclosure, categorised under rights issue. It is a primary document, not a recommendation, and the desk marks it medium impact: worth reading, rarely worth acting on by itself.
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