JMJ Fintech Cancels 7.54 Lakh Shares Post Non-Payment of Call Money

JMJ Fintech Ltd announced the approval for the forfeiture and cancellation of 7,54,452 partly paid-up equity shares. These shares were part of a Rights Issue of 2,56,00,000 shares at Rs. 10.50 each, with Rs. 3.15 paid on application. Following a final call of Rs. 7.35 per share, 590 shareholders holding 16,15,589 shares defaulted. After a final demand notice and payment window, 488 shareholders failed to pay, leading to the forfeiture of their 7,54,452 shares. The company has filed and received approval from BSE for this action.