Sai Capital Ltd Updates on Forfeiture of Shares

Sai Capital Ltd has announced with reference to the earlier letter dated February 21, 2017 informing that at its Meeting, the Board of Directors of the Company had forfeited partly paid equity shares held by respective shareholders upon their failure to pay allotment money @ Rs. 7.50 per share in spite of notices to the shareholders dated July 13, 1996 and December 15, 2016 asking them to pay the unpaid amount without any interest up to January 20,2017 and dated February 05,2017 granting extended period up to February 16, 2017 to pay the unpaid amount (without interest) on equity shares.

It has since come to notice that details of 3 (Three) Shareholders with respect to 1,500 Equity Shares from whom Allotment Money has been received were inadvertently included in the List of Partly Paid Shares Forfeited submitted to the Exchange.

As such, the total number of Equity Shares forfeited stand at 26,24,400 as against 26,25,900 communicated earlier.

Source : Equity Bulls

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