Talwalkars Better Value Fitness Approves Share Cancellation

Talwalkars Better Value Fitness Ltd's Board of Directors has approved the cancellation and extinguishment of 1,01,98,415 equity shares held by pre-liquidation promoters and 2,08,06,441 equity shares held by pre-liquidation public shareholders. This action is pursuant to orders from the Hon'ble NCLT and NCLAT, and a Sale Certificate from the Liquidator. Following the cancellation of public shares, the company will issue 5,00,000 new equity shares to eligible existing public shareholders at a ratio of 1:41. Additionally, 95,00,000 new equity shares will be allotted on a preferential basis to the nominee of the Successful Bidder. These decisions are subject to necessary approvals.