Forfeiture of 65,323 partly paid-up rights equity shares over unpaid call money

TIL Ltd's Rights Issue Committee met on 8th October, 2026 and approved the forfeiture of 65,323 partly paid-up Rights Equity Shares.

Thu 8 Oct 2026

Shares Forfeited

65,323 partly paid-up Rights Equity Shares

First and Final Call Money

₹41.25 per share (₹2.50 towards face value + ₹38.75 towards premium)

Application Money Already Paid

₹123.75 per share

TIL Ltd has informed the exchanges of the outcome of a meeting of its Rights Issue Committee held on 8th October, 2026.

What the Committee approved

• Forfeiture of 65,323 partly paid-up Rights Equity Shares of face value ₹10 each.
• These are shares on which the first and final call money of ₹41.25 per Rights Equity Share was not received by the Company.
• The forfeiture also takes in the application money of ₹123.75 per Rights Equity Share already paid on those shares.
• The Committee decided not to re-issue the forfeited shares to anybody.

Where these shares came from

The Company had allotted 1,20,91,760 partly paid-up Rights Equity Shares on 9th April, 2026 under a Rights Issue made through a Letter of Offer dated 20th March, 2026. These shares were partly paid because holders had paid only the application money, with the call money still to come.

What was due on each share

• First and final call money: ₹41.25 per Rights Equity Share, comprising ₹2.50 towards face value and ₹38.75 towards premium.
• Application money already paid: ₹123.75 per Rights Equity Share.
• Face value of each Rights Equity Share: ₹10.

How the process ran

Holders of the partly paid-up Rights Equity Shares were sent a first and final call money notice dated June 5, 2026, a first reminder notice dated July 15, 2026 and a second reminder-cum-forfeiture notice dated August 18, 2026, requiring them to pay the outstanding call money. The notices stated that non-payment of the first and final call money would result in forfeiture of the partly paid-up equity shares, including the application money already paid on them, in accordance with the Companies Act, 2013 and the Articles of Association of the Company. The first and final call money on 65,323 partly paid-up Rights Equity Shares continued to remain unpaid, and the Committee approved the forfeiture on that basis.

What forfeiture means

When a partly paid share is forfeited, the Company takes the share back because the holder did not pay the money due on it. The holder loses the shares and the application money already paid on them. Separately, the Committee decided not to re-issue the forfeited shares to anybody, so these shares are not being given out again to another person.

The meeting commenced at 2 p.m. and concluded at 4 p.m.

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