MITCON Consultancy & Engineering Services Limited — Others, 29-07-2025: Forfeiture

MITCON has initiated forfeiture for 2,61,404 partly paid-up rights equity shares due to shareholders failing to pay the First and Final Call Money. The company previously issued these rights shares at ₹76 each, part of an offering totaling ₹32.23 Cr. The Board has decided to forfeit these shares, which means the original shareholders lose all claims and rights associated with them, including any amounts already paid. These shares now become the company's property, which can be re-allotted or disposed of. This action addresses outstanding payments from the rights issue, impacting defaulting shareholders.