Forfeiture notice sent to shareholders who did not pay First and Final Call money on 69,43,139 shares
AvenuesAI Ltd has dispatched a notice of forfeiture to partly paid-up equity shareholders who did not pay the First and Final Call money.
By ScoutQuest · · 2 min read
- Shares Forfeited
- 69,43,139 partly paid-up equity shares
- Face Value per Share
- Re. 1/- each
- Last Date for Payment
- August 31, 2026
What the company has informed
The company has dispatched a notice of forfeiture to holders of partly paid-up equity shares who did not pay the First and Final Call money due on those shares. The forfeiture was decided by the Rights Issue Committee of the Board of Directors at its meeting held on Friday, September 11, 2026, and relates to the partly paid-up equity shares issued under the Letter of Offer dated June 19, 2025.
Which shares are affected
- 69,43,139 partly paid-up equity shares are being forfeited.
- Each such share has a face value of Re. 1/-.
- The forfeiture also covers the amount already paid on these shares.
Why this happened
The company states that the First and Final Call money remained unpaid despite opportunities given to pay. It refers to a notice for payment dated November 10, 2025, a 1st Reminder cum Forfeiture Notice dated January 12, 2026, a 2nd Reminder cum Forfeiture Notice dated February 19, 2026 and a Last & Final Reminder cum Forfeiture Notice dated August 11, 2026. In all, the update says shareholders were given the chance for payment four times within the stipulated timeline, with reminders sent during the period from August 17, 2026 to August 31, 2026. The last date for payment was Monday, August 31, 2026.
What forfeiture means for the affected shareholder
- The forfeiture of a share involves extinction of all interest in and all claims and demands against the company in respect of the forfeited shares, and all other rights incidental to them.
- The amount already paid on those shares is also forfeited.
- The action has been carried out under the Companies Act, 2013 and rules made thereunder, the Articles of Association of the Company, and the Letter of Offer dated June 19, 2025.
What a retail investor can take away
This is a step against holders who did not pay the call money due on partly paid-up equity shares, not a change in the company's business. The partly paid-up shares that have not been paid up in full are the ones affected. Shareholders who received such a notice and believe a payment was missed may check the notice sent to them, which carries the Forfeiture Notice No., DP ID – Client ID, holder name(s), the number of shares forfeited and the amount forfeited.
Also from AvenuesAI
Record date for consolidation of equity shares fixed: 10 shares of Re. 1/- to become 1 share of Rs. 10/-
1 Oct 2026
More numbers
- Partly paid-up equity shares forfeited69,43,139
- Face value per partly paid-up equity shareRe. 1/-
- Chances given for payment before forfeiturefour times
Nothing here is a view, opinion or recommendation of ScoutQuest, its parent, directors or employees. ScoutQuest is a technology company: this page was assembled automatically from public sources using artificial intelligence, and may contain errors or omissions. Confirm everything against the original source before you act on it. Any use of this page is at your own risk, and neither ScoutQuest nor its parent, directors or employees accepts liability for it.