Fusion Finance has officially moved to forfeit 1.63 lakh partly paid-up rights shares. This decision follows a failure by investors to meet payment obligations even after the company issued a final formal reminder regarding the outstanding balance of Rs 1.07 crore.
While some holdings faced cancellation, the firm also reported positive progress in its capital recovery efforts. The company successfully processed the conversion of 2.29 lakh shares into fully paid-up equity after collecting Rs 1.50 crore in outstanding call money.
Strategic Financial Consolidation
- Forfeiture of 1.63 lakh shares valued at Rs 1.07 crore.
- Successful conversion of 2.29 lakh shares.
- Clearance of Rs 1.50 crore in call money receivables.
This move highlights the company's firm stance on capital management as it tidies up its equity structure following the rights issue process. Shareholders are advised to monitor official disclosures for further updates regarding the impacted equity pool.
