In terms of Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 ('Listing Regulations'), we are pleased to inform you that Right Issue Committee of the Company at its duly convened meeting held today i.e January 5, 2023 has inter-alia considered and approved the following matters:
Transition of 17,50,789 Partly Paid-up Equity Shares in to fully paid-up equity shares.
With reference to our letter dated November 7, 2022 in relation to the Second and Final Reminder-cum Forfeiture Notice#2 for payment of first and final call amount of INR 0.80 per equity share (consisting of face value of INR 0.50/- and a premium of INR 0.30/- per equity share) in respect of remained unpaid 59,49,278 partly paid-up equity shares of the Company.
The shareholders of the Partly Paid-Up Equity Shares, who failed to pay the First and Final Call Money, were required to pay the First and Final Call vide Second and Final Reminder-cum Forfeiture Notice#2 dated November 7, 2022 between November 16, 2022 and December 10, 2022 (both days inclusive). The aggregate amount payable by some of these shareholders towards First and Final Call was INR 47,59,422.40/-
The successful and valid call money was received on 17,50,789 Partly Paid-Up Equity Shares aggregating to INR 14,00,631.20/- and consequently transition of 17,50,789 Partly Paid-Up Equity Shares in to fully paid-up equity shares was approved.
Forfeiture of 41,98,489 Partly Paid-up Shares
Pursuant to transition of 17,50,789 Partly Paid-Up Equity Shares in to fully paid-up equity shares out of 59,49,278 partly paid-up equity shares of the Company. Thus, on total 41,98,489 Partly- Paid Shares, Company do not receive the Call money during the payment period.
The Shareholders were intimated through various reminder cum forfeiture notice(s) requesting them to make the payment of First and Final Call Money within the due date through First and Final Call Money Notice dated February 7, 2022, First Reminder Notice dated April 4, 2022 and Second and Final Reminder-cum Forfeiture Notice#2 dated November 7, 2022.
The Company intimated to the shareholders in the reminder notice(s) that the non-payment of Call Money would attract forfeiture.
Therefore, The Right Issue Committee at their meeting held on today i.e. January 5, 2023 took the decision to forfeit the said 41,98,489 Partly Paid-up Shares on which Call Money has not received by the Company.
You are requested to take the information on record and oblige.
The Meeting commenced at 04:15 P.M. and Concluded at 05:20 P.M.
Thanking you,
Yours Faithfully,
for Vikas Ecotech Limited
DINESH
Digitally signed
by DINESH
BHARDWAJ BHARDWAJ
Dinesh Bhardwaj
Executive Director & CEO
DIN: 07719674
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Vikas Ecotech Ltd. published this content on 06 January 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 06 January 2023 14:28:59 UTC.
Vikas Ecotech Limited is an India-based company, which is primarily engaged in the business of manufacturing of specialty chemicals. The Company is also focused on specialty chemical additives and specialty polymer compounds. It caters to various industries, such as agriculture and infrastructure, packaging, organic and inorganic chemicals, electrical, fast-moving consumer goods, footwear, pharmaceuticals, automotive, medical devices and components and other consumer goods. Its segments include Infra & Energy; Chemical, Polymers & Special Additives, and Real Estate. It offers various specialty additives, including organotin stabilizers, dimethyl tin dichloride, plasticizers (epoxidized soyabean oil and chlorinated paraffin), flame retardants and chlorinated polyethylene. It also offers polymer compounds, such as thermoplastic rubber, thermoplastic elastomer and ethylene vinyl acetate. Its recycled materials include poly vinyl chloride compounds and polyethylene terephthalate compounds.