The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Catalyst Trusteeship Ltd
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Catalyst Trusteeship Ltd, acting as debenture trustee, has disclosed under Regulation 29(2) of SEBI Takeover Regulations the creation of a pledge on 10,30,95,240 equity shares (7.41% of paid-up capital) of Embassy Developments Ltd. The pledge secures two tranches of secured, unlisted, redeemable, non-convertible debentures issued by Serenesummit Realty Private Ltd — Tranche I of INR 255 crore and Tranche II of INR 30 crore, each with a face value of INR 10 lakh per debenture. No shares were actually bought or sold; this filing is solely to report the encumbrance created on these shares. Catalyst Trusteeship confirmed it does not belong to the promoter/promoter group of the company.
This is a technical regulatory disclosure about pledge creation by a debenture trustee (not a promoter) and does not involve any change in shareholding. Shareholders should note that 7.41% of the company's shares are now encumbered, which could become relevant if the borrower (Serenesummit Realty) defaults on the debentures, but there is no immediate impact on shareholding or stock price.