NewsJMJ Fintech Board Approves Forfeiture of 7,54,452 Partly Paid-Up Equity Shares for Non-Payment of Call MoneyJMJ Fintech Board Approves Forfeiture of 7,54,452 Partly Paid-Up Equity Shares for Non-Payment of Call Money
JMJ Fintech Limited's Board of Directors, at its meeting on May 13, 2026, approved the forfeiture of 7,54,452 partly paid-up equity shares due to non-payment of the First and Final Call Money. Shareholders had been notified via a Call Notice dated December 23, 2025, and a Final Reminder-cum-Forfeiture Notice dated March 10, 2026. Following the forfeiture, the company's paid-up equity share capital stands at 3,76,45,548 equity shares of ₹10/- each fully paid up, totalling ₹37,64,55,480. The development was disclosed to BSE Limited under Regulation 30 of the SEBI Listing Regulations.
*this image is generated using AI for illustrative purposes only.
JMJ Fintech Limited, a BSE-listed Non-Banking Financial Company headquartered in Coimbatore, Tamil Nadu, announced on May 13, 2026, that its Board of Directors has approved the forfeiture of 7,54,452 partly paid-up equity shares. The decision was taken at a Board meeting held on Wednesday, May 13, 2026, and disclosed to BSE Limited under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
Background of the Forfeiture
The forfeiture was triggered by the failure of shareholders to pay the First and Final Call Money on 7,54,452 partly paid-up equity shares within the stipulated timeline. The company had issued a First and Final Call Notice dated December 23, 2025, requesting the holders of such shares to remit the outstanding call money. Subsequently, a Final Reminder-cum-Forfeiture Notice dated March 10, 2026 was also issued, explicitly warning shareholders that non-payment would result in forfeiture of the shares, including amounts already paid thereon.
Since the company did not receive the First and Final Call Money in respect of the aforesaid 7,54,452 partly paid-up equity shares within the prescribed period, the Board proceeded with the forfeiture in accordance with:
- The provisions of the Companies Act, 2013
- The Articles of Association of the Company
- The terms of the Letter of Offer
Impact on Paid-Up Share Capital
Consequent to the forfeiture, the paid-up equity share capital of JMJ Fintech Limited stands as follows:
| Particulars: | Details |
|---|---|
| Share Type: | Equity Shares of ₹10/- each fully paid up |
| Number of Shares: | 3,76,45,548 |
| Capital (₹): | 37,64,55,480 |
Board Meeting Details
The Board meeting was held on May 13, 2026, commencing at 04:00 PM and concluding at 04:15 PM. The disclosure was signed by Vidya Damodaran, Company Secretary & Compliance Officer (Membership No: A 69509), on behalf of JMJ Fintech Limited. The company has requested BSE Limited to take the information on record and disseminate the same as required under applicable regulations.
Historical Stock Returns for JMJ Fintech
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -0.19% | +1.06% | -0.38% | -36.93% | -17.95% | +607.43% |
Will JMJ Fintech Limited attempt to reissue the 7,54,452 forfeited shares at a premium, and how might this impact existing shareholders' equity dilution?
How could the reduction in paid-up share capital affect JMJ Fintech's regulatory capital adequacy requirements as an NBFC under RBI guidelines?
What does the high rate of non-payment on call money suggest about investor confidence in JMJ Fintech's business outlook, and could this signal further capital-raising challenges?
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