Suraj Industries Limited has officially dispatched its second final reminder-cum-forfeiture notice on March 18, 2026, following the Rights Issue Committee's approval for collecting outstanding call money from shareholders who failed to respond to earlier notices.

Official Dispatch and Regulatory Compliance

The company submitted its regulatory filing to BSE Limited confirming the dispatch of the second final reminder-cum-forfeiture notice through both electronic mode and speed post. This action follows previous intimations dated January 20, 2026, January 28, 2026, February 19, 2026, and March 16, 2026, regarding the first call on partly paid-up equity shares.

Payment Period and Outstanding Amounts

The second final reminder-cum-forfeiture notice establishes a 15-day payment window for shareholders to settle their outstanding obligations. The company previously collected substantial amounts from responsive shareholders while maintaining strict enforcement for remaining defaults.

Previous Collection Results

The Rights Issue Committee's March 16, 2026 meeting reviewed the response to the first final reminder-cum-forfeiture notice, revealing significant collection success from the majority of shareholders.

Payment Instructions and Compliance Requirements

The company has established specific payment procedures to ensure regulatory compliance and proper processing. Cash payments are strictly prohibited, and no partial payments will be accepted under any circumstances.

Share Conversion and Corporate Actions

The committee approved the conversion of 88,48,110 partly paid-up equity shares from ₹2.50 paid-up status to ₹5.00 paid-up status, each having a face value of ₹10.00. The shares will transition from ISIN IN9170U01027 to ISIN IN9170U01035.

Forfeiture Consequences

The company has clearly warned that failure to pay the first call money within the stipulated period will render the partly paid-up equity shares, including amounts already paid, liable to be forfeited in accordance with the Companies Act, Articles of Association, and the Letter of Offer dated October 9, 2025. Third-party bank account payments are liable to be rejected, and the company reserves the right to reject delayed receipts after April 3, 2026.

Suraj Industries Ltd. has completed a significant strategic acquisition, purchasing equity shares worth Rs. 14.85 crore in VRV Foods Limited. The transaction, finalized on March 09, 2026, marks a major milestone in the company's expansion strategy and establishes VRV Foods as its associate company.

Acquisition Details

The company successfully acquired 22.50 lakh equity shares of VRV Foods Limited from promoter group persons and entities. The acquisition parameters demonstrate the strategic nature of this investment:

Regulatory Approvals and Compliance

The acquisition received comprehensive approvals through proper corporate governance channels. The transaction was part of a larger approved plan for acquiring 56.25 lakh equity shares in VRV Foods Limited. Key approvals included authorization from the company's Audit Committee and Board of Directors, ensuring thorough due diligence and strategic alignment.

Shareholder approval was obtained at an Extra-Ordinary General Meeting held on March 06, 2026, demonstrating transparency and adherence to corporate governance standards. The company had previously informed stakeholders about this acquisition through intimations dated February 07, 2026.

Associate Company Classification

Following the completion of this acquisition, VRV Foods Limited has been classified as an associate company of Suraj Industries Ltd. This classification is in accordance with Section 2(6) of the Companies Act, 2013, and applicable provisions of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

The 20.01% shareholding provides Suraj Industries with significant influence in VRV Foods' operations while maintaining the associate company status. This strategic positioning allows for potential synergies and collaborative opportunities between the two entities.

Corporate Communication

The announcement was made through proper regulatory channels, with Company Secretary and Compliance Officer Snehlata Sharma signing the official communication to BSE Limited. The disclosure fulfills requirements under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, ensuring transparency with stakeholders and regulatory compliance.