The Exchange has received the disclosure under Regulation 29(1) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Catalyst Trusteeship Ltd
MCCHRLS-B · price
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Catalyst Trusteeship Ltd, acting as debenture trustee for holders of NCDs issued by Mac Charles Hub Projects Pvt Ltd, has disclosed the creation of an encumbrance on 66,81,537 equity shares of Mac Charles India Ltd, equal to 51% of the company's paid-up share capital. The encumbrance is over shares held by promoter Mr. Jitendra Virwani and Embassy Property Development Ltd. It is linked to 54,000 senior secured redeemable NCDs of Rs 1 lakh each, aggregating up to Rs 540 crore, issued by Mac Charles Hub Projects Pvt Ltd. The debenture trust deed dated December 8, 2025 requires the debt to be repaid if the promoters cease to own at least 51% of Mac Charles India or lose control of the company. The equity share capital remains unchanged at Rs 13.10 crore (1.31 crore shares of Rs 10 each).
This is a pledge/encumbrance creation, not a share sale, so there is no change in promoter ownership or voting control. However, more than half the company's shares are now encumbered, which increases the risk to shareholders if the promoters default on the NCD obligations. Investors should monitor the Rs 540 crore NCD servicing and any potential change in promoter control triggers.