Promoters pledge 100 percent of shares to secure company debentures

Promoters and promoter group of Vardhman Polytex have pledged 100 percent of their entire shareholding, totaling 18.11 crore shares or 37.50 percent of total share capital, in favor of Catalyst Trusteeship as debenture trustee for Situation India Special Situation Fund. The pledge secures debentures issued by the company. This is a re-submitted disclosure after BSE raised observations on the original April 10 filing. Additionally, 2.54 crore warrants pending conversion by Oswal Holding are under a non-disposal undertaking.