Forfeiture notices sent to shareholders over unpaid call money on ~13.62 lakh partly paid-up shares
Eco Hotels and Resorts has dispatched Forfeiture Notices to shareholders who did not pay the first, second and third & final call money on partly paid-up rights shares.
By ScoutQuest · · 3 min read
- Shares approved for forfeiture
- ~13.62 lakh partly paid-up equity shares of face value Rs. 10/- each
- Board approval date
- Board meeting held on October 13, 2026
- Notice dispatch dates
- Notice of Forfeiture dated October 16, 2026; electronic dispatch October 16, 2026, physical dispatch completed October 17, 2026
Eco Hotels and Resorts has told the exchanges that it has dispatched Forfeiture Notices to those shareholders who did not pay the call money due on their partly paid-up rights shares. This follows a Board approval to forfeit ~13.62 lakh partly paid-up equity shares of face value Rs. 10/- each.
What happened, in order
- The company had issued up to ~1.29 crore partly paid-up equity shares of face value Rs. 10 each at Rs. 15.20 per share, including a premium of Rs. 5.20 per share, for an aggregate amount not exceeding Rs. 1,957.27 Lakhs, on a rights basis of 1 partly paid-up rights share for every 4 fully paid-up shares.
- On application, the company received Rs. 3.80 per rights share; the shares were allotted on September 26, 2025.
- The balance of Rs. 11.40 per partly paid-up share was to be collected in one or more calls.
- Three calls of Rs. 3.80 each were made: a first call open from January 27, 2026 to February 10, 2026; a second call open from April 07, 2026 to April 21, 2026; and a third and final call open from June 15, 2026 to June 29, 2026.
- Reminder notices were sent after each call to shareholders who had not paid.
The notices sent in October 2026 are the next step after the payment reminders.
The forfeiture decision
- The Board of Directors, at its meeting held on October 13, 2026, approved the forfeiture of ~13.62 lakh partly paid-up equity shares of face value Rs. 10/- each.
- The action is subject to compliance with the Companies Act, 2013, the Articles of Association of the Company and other applicable laws.
- The Notice of Forfeiture is dated October 16, 2026. It was dispatched to the concerned shareholders through electronic mode on October 16, 2026, and physical dispatch was completed on October 17, 2026.
- The intimation is also uploaded on the company's website, www.ecohotels.in.
What forfeiture means for a shareholder
The notice explains the consequence in plain terms
- Forfeiture extinguishes all interest in, and all claims and demands against, the company in respect of the forfeited shares, and all other rights incidental to them. This includes the amount already paid on those shares.
- A forfeited share is deemed to be the property of the company.
- The company may at any time make a sale or disposal of the forfeited shares, or cancel the forfeiture, on such terms as it thinks fit.
What investors can note
- The figure of ~13.62 lakh shares is the number the Board approved for forfeiture, against ~1.29 crore partly paid-up shares issued in the rights issue.
- Only shareholders who did not pay the call money are affected by the notices; the shares of those who paid all three calls are not part of this action.
- The update also states that the company retains the right to sell, dispose of or cancel the forfeiture of these shares later.
In short, this is an update on the closure of a partly paid-up rights issue where a set of shareholders did not pay the balance money, and the company has formally moved to forfeit those shares.
Also from Eco Hotels And Resorts
Forfeiture of 16,31,580 partly paid-up Right Issue shares revised; notices dispatched
21 Oct 2026
Forfeiture of 16,31,580 partly paid-up Right Issue shares; in-principal approval to raise up to INR 50 Crore
13 Oct 2026
Board approves forfeiture of 16,31,580 partly paid-up shares; in-principal nod to raise up to INR 50 crore
13 Oct 2026
More numbers
- Partly paid-up equity shares approved for forfeiture13,61,580
- Face value per partly paid-up equity shareRs. 10/-
- Partly paid-up rights equity shares issued (up to)12876808
- Rights issue price per equity shareRs. 15.20
- Premium per equity share included in issue priceRs. 5.20
- Aggregate rights issue amount (not exceeding)Rs. 1,957.27 Lakhs
- Amount received per rights share on applicationRs. 3.80/-
- Balance payable per partly paid-up equity shareRs. 11.40/-
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