Shyam Sunder Elwadhi 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.
RITCO · price
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Shyam Sunder Elwadhi, a promoter of Ritco Logistics Limited, has filed a declaration under Regulation 31(4) of SEBI's Takeover Regulations with the stock exchanges. He has confirmed that he has not created any new encumbrance (pledge or lien) on the company's shares during the financial year ended March 31, 2025, apart from anything already disclosed earlier. Importantly, the promoter has also stated that the number of encumbered or pledged shares held by him stands at Nil as of March 31, 2025. This is a routine annual disclosure required of promoters to confirm the status of share encumbrances.
This is a neutral-to-positive disclosure for shareholders. Having zero pledged shares as a promoter reduces financial risk for the company, as there is no threat of forced share sales from a pledge invocation. It signals that the promoter is not under financial pressure and has comfortable control over his holdings.