Praveen Gurnani 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.
UNITECH · price
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Awaiting price reaction for this filing.
Praveen Gurnani, a person classified in Unitech's promoter group, has filed a declaration with the exchanges confirming he holds 42,75,310 equity shares (face value Rs. 2) with zero encumbrances as of 31 March 2025. His shares have carried a 'Suspended for Debit' status in his demat account since 31 December 2018. He states the filing is made 'under protest' because he does not consider himself part of the promoter group and has been requesting reclassification as a public shareholder since May 2018, with multiple requests rejected by Unitech's board. He has now approached the Supreme Court (IAs pending) seeking directions for reclassification, and is using this SEBI disclosure to formally record his position.
No change to Unitech's actual shareholding or promoter group composition results from this filing. It is a procedural declaration reflecting an ongoing legal dispute over one individual's promoter classification, with no immediate effect on stock price or minority shareholders, though a Supreme Court ruling could alter the company's disclosed shareholding pattern in the future.