Arun Kumar Kothari has Submitted to the Exchange a copy of Disclosure under Regulation 31(4) and 31(5) of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.
ALBERTDAVD · price
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Arun Kumar Kothari, a promoter of Albert David Limited, has filed a disclosure with the exchange under Regulations 31(4) and 31(5) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. These regulations require promoters to disclose details when shares that were previously pledged or encumbered are invoked by the lender. The filing confirms that the promoter has reported an event involving the encumbrance status of shares held in the company. No specific number of shares or percentage of holding has been mentioned in the available disclosure.
This type of filing typically signals that a promoter has faced financial stress, as pledged shares being invoked can lead to a loss of voting rights and potential change in shareholding. Investors should monitor for any further details on the quantum of shares affected and potential impact on promoter holding in Albert David Limited.