Neueon Corporation532887Governance policy update

Members approve AOA change letting Board make one or multiple calls on unpaid share capital

Members of Neueon Corporation have approved an amendment to the Articles of Association letting the Board make one, two or multiple calls on the unpaid amount on shares.

By ScoutQuest · Wed 11 Nov 2026, 11:24 PM IST · 2 min read

Postal ballot held: Thursday 29 October 2026
ROC approval date: 11 November 2026
Minimum call notice period: less than 15 days from the date fixed for payment of the last preceding call

What has happened

Neueon Corporation Limited has informed the exchanges that its members have approved an alteration of the Articles of Association (AOA) by way of Special Resolution(s) passed through postal ballot held on Thursday 29 October 2026. The alteration has been approved by the Registrar of Companies, Central Processing Centre, on 11 November 2026. The intimation and a copy of the amended AOA are also being uploaded on the company's website, www.neueon.in.

The change, in one line

The existing Article 22(i) has been substituted. Under the new Article, the Board may, from time to time, make calls upon members in respect of any monies unpaid on their shares — whether on account of the nominal value of the shares or by way of premium — that are not made payable at fixed times by the conditions of allotment.

Key features of the new Article

The Board may make one, two, or multiple calls.
No such call shall be payable less than 15 days from the date fixed for payment of the last preceding call.

What a call means for a shareholder

A call is the company asking shareholders to pay money that is still unpaid on their shares. That unpaid money can be the face value (nominal value) of the share or the premium on it. In simple terms, where shares are partly paid, the company can ask for the balance in instalments instead of waiting for a single payment.

Why the company says it wants this

The update states that the purpose of permitting the Board to make one, two, or multiple calls is to give the Company flexibility to raise the unpaid share capital in a phased manner, depending upon its funding requirements and cash-flow position.

How to read the disclosure

This is a change to the Articles of Association. It sets out a power the Board may use from time to time; the update does not say any call has been made.
The condition written into the amended Article is the timing gap: each fresh call cannot be payable less than 15 days after the date fixed for payment of the previous call.
The route was a Special Resolution of members through postal ballot, followed by approval of the Registrar of Companies, Central Processing Centre, on 11 November 2026.

Also from Neueon Corporation