News Corporate Actions Pasupati Fincap Limited Issues Correction Notice for Capital Reduction Disclosure ErrorsPasupati Fincap Limited Issues Correction Notice for Capital Reduction Disclosure Errors
Pasupati Fincap Limited issued a correction notice on February 12, 2026, for typographical errors in its February 09, 2026 board meeting outcome regarding capital reduction under SEBI regulations. The revised scheme involves cancelling 44,65,000 equity shares of ₹10 each, reducing paid-up capital from ₹4,70,00,000 to ₹23,50,000. The company will set off ₹4,46,50,000 against accumulated losses of ₹5,35,37,249.50 to improve its financial position while maintaining proportional shareholding for all investors.
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Pasupati Fincap Limited has issued a correction notice to BSE Limited addressing typographical errors in its previous board meeting disclosure regarding capital reduction. The notice, dated February 12, 2026, and signed by Whole Time Director Anil Malik, pertains to corrections in the outcome of the board meeting held on February 09, 2026.
The company identified inadvertent typographical and clerical errors in the figures mentioned under Annexure-II of its original capital reduction announcement. The revised disclosure has been submitted to comply with Regulation 30 and other applicable provisions of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
Capital Reduction Scheme Details
The proposed capital reduction scheme involves significant restructuring of the company's equity capital structure. The plan contemplates cancellation and extinguishment of equity shares on a pro-rata basis to realign the company's capital base.
| Parameter | Before Reduction | After Reduction |
|---|---|---|
| Paid-up Capital | ₹4,70,00,000 | ₹23,50,000 |
| Number of Shares | 47,00,000 | 2,35,000 |
| Shares to be Cancelled | - | 44,65,000 |
| Face Value per Share | ₹10 | ₹10 |
Financial Impact and Objectives
The capital reduction aims to address the company's accumulated losses and improve its financial position. The scheme will result in setting off a substantial portion of past losses against the reduced share capital.
| Financial Aspect | Amount |
|---|---|
| Amount to be Set Off | ₹4,46,50,000 |
| Total Accumulated Losses | ₹5,35,37,249.50 |
| Remaining Losses Post-Reduction | ₹88,87,249.50 |
The board believes this capital reduction is necessary to provide a true and fair view of the company's financial position by eliminating a substantial portion of accumulated losses from the balance sheet.
Shareholding and Benefits
The restructuring maintains fairness among existing shareholders while simplifying the capital structure. Key aspects include:
- Pro-rata cancellation: All shares will be cancelled proportionally
- Unchanged ownership: Relative shareholding percentages remain the same
- No consideration: No payment to shareholders for cancelled shares
- No promoter benefit: No specific benefit accrues to promoter/promoter group
The capital reduction is designed to enhance financial ratios and overall capital efficiency without impacting the economic interest of existing shareholders. The simplified capital structure will provide a clearer depiction of the company's financial position while improving its net worth through the elimination of past losses.
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