In terms of Regulation 31(4) of SEBI(SAST) Regulation, 2011, we hereby enclose the yearly disclosure received from the Promoter together with the Person Acting in concert
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Maiden Forgings Ltd has filed its annual disclosure confirming that the Promoter (Nishant Garg) and all Promoter Group members have not created any share encumbrances (pledging) during FY2025-26. The disclosure covers 8 entities including promoters Nivedita Garg and Nishant Garg, along with 6 promoter group members. This is a routine regulatory filing under SEBI takeover regulations requiring promoters to annually declare their share pledging activities.
Positive signal for shareholders as no share pledging indicates promoters have not leveraged their holdings for loans, reducing risk of forced selling. This suggests promoter confidence in the company's prospects.