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Disclosure of reasons for encumbrance by promoter of listed companies

..... sure under Regulation 31(1) of Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 (Takeover Regulations) has been prescribed by SEBI vide circular No. CIR/CFD/POLICYCELL/3/2015 dated August 05, 2015. 2. In order to bring greater transparency regarding reasons for encumbrance, particularly when significant shareholding by promoter along with p .....

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..... els. ii. The disclosure in Annexure - II shall be in addition to the disclosure of Annexure - I provided vide circular No. CIR/CFD/POLICYCELL/3/2015 dated August 05, 2015. iii. If the existing combined encumbrance by the promoter along with PACs with him is either 50% or more of their shareholding in the company or 20% or more of the total share capital of the company as on September 30, 2019, he .....

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..... rected to: i. bring the provisions of this circular to the notice of the listed companies and their promoters and also disseminate the same on their website; and ii. communicate to SEBI the status of implementation of the provisions of this circular through monthly development report. 5. This circular is issued in exercise of the powers conferred under Section 11(1) of the Securities and Exchange .....

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..... NO Whether encumbered share is 20% or more of total share capital YES / NO Details of all the existing events/ agreements pertaining to encumbrance Encumbrance 1 (Date of creation of encumbrance: ______ ) Encumbrance 2 (Add columns for each event/ agreement) Type of encumbrance (pledge, lien, negative lien, non-disposal undertaking etc. or any other covenant, transaction, condition or arrangement .....

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..... he debt instrument is listed on stock exchanges? Credit Rating of the debt instrument ISIN of the instrument Security Cover / Asset Cover Value of shares on the date of event / agreement (A) Amount involved (against which shares have been encumbered) (B) Ratio of A / B End use of money Borrowed amount to be utilized for what purpose - Personal use by promoters and PACs For the benefit of listed co .....

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