Debt Recovery and Corporate Action Updates for Shareholders
E-Auction Initiated for Assets of Ridham Synthetics; Centrum Capital Urges Claiming Unclaimed Dividend
The business landscape saw several significant developments, including the commencement of an e-auction for assets belonging to M/s. Ridham Synthetics Pvt Ltd., as part of a debt recovery process, alongside critical notices from Centrum Capital Limited regarding unclaimed dividends and the upcoming Extraordinary General Meeting (EGM) of Organic Recycling Systems Limited.Assets Sale in Debt Recovery
A bank is holding an e-auction for immovable and movable properties belonging to M/s. Ridham Synthetics Pvt Ltd., Mr. Kamlesh V. Bafna (Deceased), Mrs. Jasma K. Bafna, and Mr. Kaushik I. Desai. The sale covers two lots: land and building, and machinery.The total liability of the borrower stands at Rs. 57,90,25,967.21 as of July 31, 2024, along with interest from August 01, 2024, until full payment is made. The auction includes properties located in Dombivali and Tarapur.
Key details regarding the e-auction are provided below:
| Lot | Description | Reserve Price (In Rs) |
|---|---|---|
| Lot 1 | Land and Building (Plot Nos. B-23 & B-24, Sagaon) | 27,46,00,000/- |
| Lot 2 | Machinery | 11,13,00,000/- |
Interested bidders can submit separate tenders for the respective lots. The auction is scheduled to take place on July 22, 2026 (for one type of asset) and other dates are listed in the official notice.
The properties are subject to several encumbrances:
- Maharashtra State Electricity Distribution Company Ltd. (MSEDCL) has pending charges totaling Rs. 21,90,891.08 and Rs. 36,05,530/- related to bills dated November 03, 2025, and December 06, 2025, respectively.
- Maharashtra Industrial Development Corporation (MIDC) holds a bill from December 04, 2025 for Rs. 1,76,47,555/-.
- Kalyan Dombivali Municipal Corporation (KDMC charges) amount to Rs. 6,68,041/ as of February 27, 2026.
The notice also notes that the borrower had challenged the bank's actions under the SARFAESI Act, 2002, and subsequent court orders allowed continued use and occupation until September 30, 2025, before default led to the current possession by the bank.
Centrum Capital Limited Seeks Action on Unclaimed Dividends
Centrum Capital Limited has issued a notice regarding shareholders who have not claimed dividends for seven consecutive years or more. This action is in compliance with Section 124(6) of the Companies Act, 2013 and the Investor Education and Protection Fund (IEPF) Rules, 2016.The company informed that shareholders who failed to claim the Final Dividend for the Financial Year 2018-19—which has been unclaimed for seven consecutive years since September 12, 2019—are urged to take action. Shareholders must submit claims by October 09, 2026.
The company confirmed that it has not declared any dividend after the aforementioned Final Dividend for FY 2018-19. Details regarding the unclaimed dividend can be verified through the Registrar and Share Transfer Agent (RTA).
Organic Recycling Systems Limited to Hold EGM on Bonus Shares
Organic Recycling Systems Limited is scheduled to hold an Extraordinary General Meeting (EGM) on August 3, 2026, at 11:30 A.M. (IST), to approve the issue of Bonus Shares. The notice detailing the meeting and related documents was circulated on July 10, 2026.The company provides members with remote e-voting facility through NSDL for both the EGM and subsequent remote e-voting periods, commencing on July 30, 2026. Members who become shareholders after the cutoff date of July 27, 2026, are eligible to vote at the meeting.
CENTRUM Stock Price Movement
On Friday, shares of Centrum Capital Limited edged higher, settling at ₹24.57 after a 0.99% gain. The stock traded within an intraday range, hitting a low of ₹24.24 and a high of ₹25.95, with a volume of 846,657 shares recorded.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
The information provided is for general informational purposes only and does not constitute investment advice, a recommendation, or an offer to buy or sell any securities. Readers are advised to rely on their own assessment and judgment and consult appropriate financial advisers, if required, before taking any investment-related decisions.
Any views, opinions, or statements expressed, where applicable, are those of the respective analysts or experts and do not reflect the views of this website. The website has no association with such viewpoints and does not assume any responsibility for them.