The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Meenakshi Sundar
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BSE has received a disclosure under Regulation 29(2) of SEBI's Takeover Regulations from Meenakshi Sundar, who is part of the promoter/promoter group of Organic Coatings Ltd. This regulation specifically deals with reporting the creation, modification, invocation, or release of any encumbrance (such as a pledge) on the company's shares held by the promoter group. The available filing does not specify whether this is a pledge creation, invocation, or release, nor does it mention any share quantity, percentage, or pledgee details.
Without further details on the nature of the encumbrance disclosure, shareholders should await the full filing to understand whether this signals any financial stress (pledge invocation) or routine pledging activity by the promoter group.