Eco Hotels And Resorts514402Board key decisions

Forfeiture of 16,31,580 partly paid-up Right Issue shares; in-principal approval to raise up to INR 50 Crore

Board outcome: 🏨 Chhatrapati Sambhajinagar hotel proposed to start operations in October 2026; Mysuru in Q4 FY 2026-27.

By ScoutQuest · Tue 13 Oct 2026, 3:43 PM IST · 2 min read

1,28,76,808Total partly paid-up Right Issue Equity Shares

Shares on which First, Second and Third & Final Call money was received1,12,45,228

Partly paid-up Right Issue Equity Shares forfeited16,31,580

Total partly paid-up Right Issue Equity Shares 1,28,76,808: Shares on which First, Second and Third & Final Call money was received 1,12,45,228, Partly paid-up Right Issue Equity Shares forfeited 16,31,580.

Fund Raise Approved: up to INR 50 Crore via preferential issue/private placement/warrants
Shares Forfeited: 16,31,580 partly paid-up Right Issue shares
Hotel Launch Timelines: Chhatrapati Sambhajinagar October 2026; Mysuru Q4 FY 2026-27

Three items were placed before the board at its meeting held on October 13, 2026: an operational update on the hotels, an in-principal approval for a fund raise, and the forfeiture of partly paid-up Right Issue shares.

Hotel project timelines

Chhatrapati Sambhajinagar (Aurangabad): the hotel is proposed to commence operations during October, 2026.
Mysuru: the hotel is proposed to commence operations during Quarter 4 of FY 2026-27.

The board took note of the management's update on the operational performance of the existing hotels and the progress of upcoming hotel projects across various locations. The update uses the word "proposed", so these are planned start dates.

Proposed fund raise

The board accorded in-principal approval for raising funds up to INR 50 Crore.
The route mentioned is the issuance of shares on a preferential basis / private placement and/or warrants.
The proposed recipients are eligible investors, promoters and/or members of the promoter group.
The plan is subject to receipt of necessary statutory, regulatory, stock exchange and shareholders' approvals and compliance with applicable laws.

In-principal approval is an early clearance from the board; the issuance itself would follow the approvals listed.

Forfeiture of partly paid-up Right Issue shares

The board approved the forfeiture of 16,31,580 partly paid-up Right Issue Equity Shares on which the First Call, Second Call and Third & Final Call Money remained unpaid.
Out of the total 1,28,76,808 partly paid-up Right Issue Equity Shares, the company received the First Call, Second Call and Third & Final Call money in respect of 1,12,45,228 shares.
Call notices and Final Reminder-cum-Forfeiture Notices were issued to holders of partly paid-up equity shares who had failed to pay the outstanding call money. These notices stated that if the call money together with applicable interest was not paid within the stipulated period, the partly paid-up equity shares, including the amount already paid thereon, would be liable to forfeiture under the Companies Act, 2013 and the Articles of Association.
The board approved the forfeiture of the shares together with the amounts already paid thereon, in accordance with applicable law, the Articles of Association and the terms of the Rights Issue.
The Rights Issue Committee and/or designated officers of the company are authorised to undertake the necessary actions, updates and compliances in connection with the forfeiture.

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