The Exchange has received revised Disclosure under Regulation 31(1) and 31(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 on April 08, 2025 for Kailash Prasad Purohit
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On April 8, 2025, JMD Ventures filed a revised SEBI SAST Regulation 31(1) and 31(2) disclosure covering two earlier filings from December 2024. Promoter Kailash Prasad Purohit, who holds 50,00,000 shares (17.33% of total share capital), had his shares pledged with Nouveau Global Ventures Ltd since April 2014 for personal borrowings. The disclosure shows pledge release events on December 5, 2024 and December 12, 2024, unwinding the encumbrance. The original pledge of 12.50 lakh shares had grown over time due to bonus share issuances. The company has clarified that encumbered shares are neither 50% or more of promoter holding nor 20% or more of total share capital, indicating the pledge position is modest relative to overall holdings.
Pledge release is generally a positive signal for shareholders, as it lowers the risk of forced share sales by the promoter. However, the pledged shares were for the promoter's personal borrowings (not company benefit), so successful release suggests the promoter has managed personal liabilities. Investors should note the original 2014 pledge structure persists in revised form and watch for any further pledge activity.