Calleis Real Estate Private Limited 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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Calleis Real Estate Private Limited, part of the promoter group of the company, has filed a disclosure under Regulation 31(4) of SEBI's Takeover Regulations confirming that it did not create any encumbrance (pledge or charge) on its shares, directly or indirectly, during the financial year 2014-15. As on March 31, 2015, the promoter group's aggregate holding stood at 17,57,76,100 equity shares, representing 74% of the total paid-up share capital, and this entire holding is free of any encumbrance. The disclosure has also been simultaneously submitted to the Audit Committee of the target company as required under the regulations.
This is a routine annual compliance filing that confirms the promoter group has not pledged any shares during the year and their 74% stake remains completely unencumbered, which is a positive sign for shareholders as it indicates no financial stress on the promoters requiring share pledges as collateral.