Mawana Sugars 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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Krishna Shriram, promoter of Mawana Sugars Limited, has submitted the annual disclosure confirming that promoters and persons acting in concert have NOT made any encumbrance (pledge) directly or indirectly on their shareholding in the company. The disclosure includes details of three promoter accounts: Krishna Shriram holding 2,46,79,559 shares, another account of Krishna Shriram with 2,16,289 shares, and Roula Shriram with 536 shares. This is a nil pledge declaration under Regulation 31(4), which requires annual disclosure of any share pledges by promoters.
This is a positive disclosure for shareholders as it confirms promoters have not pledged their shares, indicating financial stability and no immediate risk of forced selling by lenders. The absence of encumbrances removes a potential overhang on the stock.