Sivasundar Private 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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Sivasundar Private Limited, a promoter entity of MM Forgings Limited, has submitted a declaration confirming that 18,744,000 shares in the company have not been pledged or otherwise encumbered during the year ended 31 March 2026. The filing is a compliance requirement under SEBI regulations requiring promoters to disclose the status of share pledges. This declaration certifies that the promoter's shares are free and clear of all encumbrances as of the reporting date.
The confirmation that promoter-held shares are not pledged is generally viewed as positive for minority shareholders, as it indicates the promoter's shares cannot be invoked by lenders in case of loan defaults. This reduces risk of sudden supply pressure in the secondary market from pledged share offloading.