The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Suresh Gaggar
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BSE has received a disclosure under Regulation 29(2) of the SEBI Substantial Acquisition of Shares & Takeovers (SAST) Regulations, 2011 from Suresh Gaggar in connection with Garnet International Ltd. This regulation pertains to disclosures of encumbrance (pledge) on shares held in a listed company. The filing indicates a pledge-related event such as creation, invocation, or release of shares held by Suresh Gaggar in the company. Specific details on the nature of the transaction, number of shares, or percentage of holding are not disclosed in the available headline.
Since the exact nature of the disclosure (pledge creation, invocation, or release) is not specified, the impact on shareholders is unclear. Pledge-related disclosures generally warrant monitoring as they may affect shareholding stability and promoter confidence in the company.