California Software Company Limited (CALSOFT) convened its Board meeting on 27 May 2026, approving a series of corporate actions related to preference share redemption and equity shareholder obligations.
OCRPS Redemption Approved
The board sanctioned the redemption of 4,18,700 Optionally Convertible Redeemable Preference Shares held by Chemoil Advanced MGMT Services Private Limited. The aggregate redemption amount stands at ₹4,18,70,000, with payment and subsequent cancellation of these OCRPS to be executed upon completion of prescribed formalities.
Rights Issue Call Money Extension
Directors approved a one-month extension for payment of the First and Final Call Money concerning partly paid-up equity shares issued under the Rights Issue. Shareholders who have not yet remitted the call amount now have additional time to fulfil their payment obligations.
The board also granted approval for forfeiture of partly paid-up equity shares in instances where call money remains unpaid beyond the extended period. Such forfeiture actions will be carried out in accordance with applicable legal provisions and the terms specified during the Rights Issue.
Administrative Authorization
Directors and officers of the company have been authorized to undertake all necessary acts, deeds, and regulatory filings required to implement these resolutions. The announcement was made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
*This article is based on corporate announcements filed with the stock exchange and does not constitute financial advice. Investors are advised to review official filings and consult qualified advisors before making investment decisions.*