Key Quantitative Figures
- Number of shares forfeited: 69,43,139 (6,943,139) partly paid-up equity shares
- Face value per share: Re. 1/- each
- The specific amount forfeited per shareholder is not quantified in the main disclosure but would be detailed in individual notices
Timeline of Events
- Rights Issue Committee meeting date: September 11, 2026 (approved forfeiture)
- Original Letter of Offer date: June 19, 2025
- First and Final Call Money notice: November 10, 2025
- 1st Reminder cum Forfeiture Notice: January 12, 2026
- 2nd Reminder cum Forfeiture Notice: February 19, 2026
- Last & Final Reminder cum Forfeiture Notice: August 11, 2026
- Final payment deadline: August 31, 2026
- Disclosure date: October 15, 2026
Parties Involved
- Decision-making body: Rights Issue Committee of the Board of Directors
- Contact person: Mr. Shyamal Trivedi, Sr. Vice President & Company Secretary
- Regulatory recipients: BSE Limited (Scrip Code: 539807) and National Stock Exchange of India Limited (Symbol: CCAVENUE)
Action Taken
The Company has forfeited 69,43,139 partly paid-up equity shares along with any amount already paid on these shares due to non-payment of the First and Final Call money by the August 31, 2026 deadline.
Communication Process
Individual forfeiture notices have been sent to all shareholders who failed to pay the call money, with a copy enclosed as Annexure to the regulatory filing. The intimation is also available on the company's website at www.avenuesai.com.
Legal Consequences
As stated in the notice: "The forfeiture of a share shall involve extinction of all interest in and all claims and demands against the Company, in respect of the forfeited shares and all other rights incidental thereto."
Financial Impact
Financial impact not quantified in the disclosure. The forfeiture represents a capital reduction through extinction of the partly paid shares.