TIL Limited to Forfeit Unpaid Rights Shares

Meeting Date: October 3, 2026
Call Money Outstanding: Rs 41.25 per share

Reader Takeaway: The company is cleaning up its capital structure by forfeiting shares where investors failed to pay dues.

What just happened

TIL Limited has announced a meeting of its Rights Issue Committee scheduled for October 3, 2026. The primary agenda is to formalize the forfeiture of partly paid-up equity shares that were part of its recent rights issue. The company is taking this step because the first and final call money of Rs 41.25 per share remains unpaid for these specific holdings.

Why this matters

This action represents the final step in a recovery process that began earlier this year. TIL Limited previously issued multiple notices to the affected shareholders, starting with a formal call notice on June 5, 2026, followed by reminders in July and August. By moving to forfeit these shares, the company is exercising its rights under the Companies Act, 2013, to address the outstanding dues and finalize its paid-up share capital base.

The background

The rights issue in question involved up to 1,20,91,760 partly paid-up equity shares, issued at a price of Rs 165 per share (face value Rs 10). The forfeiture process specifically targets those allotments where investors failed to meet their payment obligations despite receiving a second reminder-cum-forfeiture notice on August 18, 2026.

What to track next

Shareholders should monitor the post-meeting disclosure for the final number of shares being forfeited. This will clarify the adjusted paid-up capital of the company and confirm if any further actions are required regarding these specific shares.