Michelle Gulu Malkani has Submitted to the Exchange a copy of Disclosure under Regulation 31(4) of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.
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Michelle Gulu Malkani, a promoter of Ador Welding Limited, has submitted a disclosure confirming that neither she nor any persons acting in concert (PACs) have created any encumbrance (pledge) on the company's shares held by her during financial year 2025-26. This is a routine regulatory filing required under SEBI's Takeover Regulations, specifically Regulation 31(4), which mandates promoters to disclose details of share encumbrances. The filing is essentially a negative confirmation — stating that no pledge was created during the year. Such disclosures help monitor promoter-level collateral on company shares and potential risks to shareholder interests.
This filing is neutral for shareholders as it confirms no additional pledging by the promoter, meaning no dilution of promoter commitment or risk of share invocation. It provides transparency that the promoter's shareholding remains unencumbered.