Subash Agarwal 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.
Awaiting price reaction for this filing.
Subash Agarwal, on behalf of the promoter and promoter group of ARSS Infrastructure Projects, has filed a Regulation 31(4) declaration with the stock exchanges confirming that no new encumbrances (pledges or charges) have been created on shares during the financial year, other than those already disclosed. The disclosure lists the holdings of 14 promoter/promoter group entities, with the largest being Sidhant Financial Services (14.92%) and ARSS Developers (14.00%). Total promoter group holding stands at 46.70% (1,06,19,468 shares). The company is currently under the Corporate Insolvency Resolution Process (CIRP) with a Resolution Professional appointed.
This is a routine annual compliance filing with no change in shareholding or new encumbrances, so it is unlikely to have any direct impact on the stock price. The confirmation provides comfort that promoter holdings remain unencumbered beyond what was previously reported, though the company continues to be under insolvency proceedings which remains the key concern for shareholders.