Trescon Limited Forfeits 13.87 Lakh Partly Paid-Up Equity Shares
Trescon Limited has forfeited 13,86,600 partly paid-up equity shares due to shareholders' failure to pay call money. The forfeiture, approved on May 20, 2025, includes 100 shares with unpaid call money of ₹5.00 per share and 13,86,500 shares with unpaid call money of ₹7.50 per share. The company issued a call notice on October 22, 2024, with a payment deadline of November 21, 2024. Affected shareholders lose all rights and claims related to these shares. Trescon now has full control to sell, re-issue, allot, dispose of, or cancel these shares, subject to compliance with applicable regulations.
*this image is generated using AI for illustrative purposes only.
Trescon Limited has taken decisive action regarding unpaid call money on its partly paid-up equity shares. The company has forfeited 13,86,600 partly paid-up equity shares following shareholders' failure to meet the payment deadline for call money.
Forfeiture Details
The forfeiture, approved by the Board of Directors at their meeting on May 20, 2025, includes:
- 100 shares with unpaid call money of ₹5.00 per share
- 13,86,500 shares with unpaid call money of ₹7.50 per share
All forfeited shares have a face value of ₹10.00 each.
Timeline of Events
| Date | Event |
|---|---|
| October 22, 2024 | Trescon Limited issued a call notice to shareholders |
| November 21, 2024 | Deadline for payment of call money |
| May 20, 2025 | Board of Directors approved the forfeiture of shares due to non-payment |
| July 23, 2025 | Company issued and dispatched Notice of Forfeiture to affected shareholders |
Implications for Shareholders
The forfeiture has significant consequences for the affected shareholders:
- All interests, claims, and demands against the company in respect of the forfeited shares are extinguished.
- Shareholder rights related to these shares cease to exist.
Company's Position
Trescon Limited now has full control over the forfeited shares. The company can:
- Sell
- Re-issue
- Allot
- Dispose of
- Cancel these shares at its discretion
Any action taken will be subject to compliance with applicable laws, rules, and regulations.
Looking Ahead
The forfeiture of these shares may impact Trescon Limited's share structure and potentially its market capitalization. Investors and market analysts will likely be watching closely to see how the company handles these forfeited shares in the coming months.
In related news, Trescon Limited has scheduled a Board of Directors meeting for August 7, 2025, to consider and approve the Un-Audited Financial Results for the quarter ended June 30, 2025. This upcoming meeting may provide further insights into the company's financial position and strategies following the share forfeiture.
Historical Stock Returns for Trescon
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +0.63% | -6.91% | -18.76% | -15.46% | -37.25% | -87.10% |
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