UPL Limited announced the forfeiture and cancellation of 2,64,278 partly paid-up equity shares, each with a face value of Rs. 2. This action follows the failure of shareholders to pay the required call money after receiving a Final Reminder Cum Forfeiture Notice. The decision was approved by the Rights Issue Committee, resulting in the retention of all amounts previously paid on these specific shares.
Formal Disclosure on Share Cancellation
UPL Limited has formally disclosed the outcome of actions taken against holders of partly paid-up equity shares who defaulted on payment obligations. This announcement is pursuant to the company’s previous communication on November 27, 2025, regarding the issuance of a Final Reminder Cum Forfeiture Notice.
Details of Forfeiture Action
The Rights Issue Committee reviewed the non-payment of call money, including the First Call, Second Call, or both, along with applicable interest. In cases of continued failure to remit these dues, the shareholders were duly informed that the equity shares held, along with any amounts already paid, would be liable for forfeiture.
Consequently, the Committee officially forfeited and cancelled 2,64,278 partly paid-up equity shares. Each share carries a face value of Rs. 2. The cancellation was necessitated by the unpaid call money associated with these specific securities.
Conclusion
This action concludes the forfeiture process for the aforementioned shares. The Company Secretary & Compliance Officer, Sandeep Deshmukh, confirmed the filing of this information for the records of the stock exchanges on February 19, 2026.
Source: BSE
