The Exchange has received Disclosure under Regulation 31(1) and 31(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 on December 12, 2025 for Embassy Property ....
MCCHRLS-B · price
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Embassy Property Developments Pvt Ltd, the promoter of Mac Charles (India) Ltd (73.41% stake, 96.16 lakh shares), has disclosed creation of encumbrance on 66.81 lakh shares (51% of total share capital) in favour of Catalyst Trusteeship Ltd. The encumbrance is dated December 8, 2025, and is linked to the issuance of ₹540 crore Non-Convertible Debentures (NCDs) by Mac Charles Hub Projects Pvt Ltd, a wholly-owned subsidiary of Mac Charles (India) Ltd. The encumbrance is a covenant stating that if Embassy Property and Mr. Jitendra Virwani cease to own at least 51% of the company or lose control, the NCD debt must be repaid. The disclosure has been filed on December 12, 2025 with BSE.
This is a regulatory disclosure of a negative-pledge-style covenant tied to subsidiary-level NCD issuance rather than an actual share pledge or sale. Promoter ownership remains unchanged at 73.41%, and no shares have been sold or transferred. Shareholders should note the linkage: any future change in promoter control could trigger NCD repayment, but near-term impact on shareholding is neutral.