The Exchange has received Disclosure under Regulation 31(1) and 31(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 on October 17, 2025 for Embassy Property ....
MCCHRLS-B · price
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Embassy Property Developments Pvt Ltd, the promoter of Mac Charles (India) Ltd holding 73.41% (96,16,952 shares), has disclosed the release of pledge encumbrance on its entire promoter shareholding, effective October 16, 2025. The releases relate to three separate loan arrangements: one involving LJ-Victoria Properties with Indiabulls Commercial Credit Limited (trustee: IDBI Trusteeship), a Rs. 187 crore loan facility from Indiabulls Commercial Credit Limited to Embassy Property Developments itself (trustee: Indiabulls Housing Finance Limited), and an extension of charge for facilities from Indiabulls Housing Finance and Indiabulls Commercial Credit. Despite the release, the promoter continues to hold the same 73.41% stake in the company, suggesting the released pledge was likely re-pledged or restructured under new terms.
The release and simultaneous continuation of pledged shares indicates loan restructuring rather than any change in promoter ownership. Shareholders should note that the promoter's entire holding remains encumbered, which could be a concern if financial conditions of the Embassy/Indiabulls group deteriorate.