Tamilnadu Industrial Development Corporation Limited has Submitted to the Exchange a copy of Disclosure under Regulation 31(4) of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.
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Tamilnadu Industrial Development Corporation Limited (TIDCO), part of the promoter/promoter group of Manali Petrochemicals, has submitted a compliance disclosure to the exchanges. Under Regulation 31(4) of SEBI's Takeover Regulations, TIDCO confirmed that it has not created any encumbrance (pledge, lien, or charge) on its 1,12,12,500 shares, which represent 6.52% of the company. This is a routine annual/periodic compliance filing required from promoters and does not indicate any change in ownership or encumbrance status.
This is a routine regulatory compliance disclosure with no material impact on the stock. It simply confirms that TIDCO continues to hold its 6.52% stake in Manali Petrochemicals free of any encumbrance, with no change in ownership or pledge status.