Abhishek Corporation Limited has informed the Exchange regarding 'Disclosure under Reg.31(4) of SEBI(SAST) Regulations 2011'.
Awaiting price reaction for this filing.
Mahaalaxmi Texpro Limited (formerly Abhishek Corporation Limited) has submitted a declaration by promoters confirming that no pledge or encumbrance was created on equity shares held by promoters during the financial year ending 31 March 2026. The company was previously under liquidation following an NCLT order dated 11 March 2019. A new promoter group, Mahaalaxmi Textile, acquired the company as a going concern via NCLT order dated 25 January 2024 and a sale certificate dated 11 March 2024. Several corporate actions — including cancellation of old promoter shares, reduction of public shareholding, share consolidation, and allotment of shares to new promoters — are still pending at the ROC, stock exchanges, and depositories.
The absence of any pledge or encumbrance on promoter shares is a positive signal for minority shareholders, as it indicates the new promoters have not leveraged their shareholding against debt. However, the ongoing corporate actions (share cancellation, consolidation) mean shareholding patterns may still change materially.