Corporate Announcement
Security Code : 504918    Company : SANDUMA    
 
Announcement Under Regulation 30 Of The Securities And Exchange Board Of India (Listing Obligations And Disclosure Requirements) Regulations, 2015 - Intimation Of Pledge Of Shares Held In Subsidiary CompanyDownload PDFDownload XBRL
  Exchange Received Time  31/05/2019 18:51:45         Exchange Disseminated Time   31/05/2019 18:51:50              Time Taken   00:00:05
In connection with financial assistance being availed by The Sandur Manganese & Iron Ores Limited (the 'Company') for, inter alia, the Coke Oven Project, the Company has pledged further 4,82,40,000 (Four Crore Eighty Two Lakh Forty Thousand Only) shares, held in Star Metallics and Power Private Limited ('Subsidiary Company') on May 31, 2019, in favour of Axis Trustee Service Limited (acting for the benefit of the lenders, including but not limited to Axis Bank Limited, ICICI Bank Limited and IndusInd Bank Limited) as security to secure the borrowing amounting to INR 470,00,00,000 (Rupees Four Hundred and Seventy Crore Only) being availed by the Company.

With this, the Company has pledged all its shares held in the Subsidiary Company aggregating to 80.58% of the total shares issued by the Subsidiary Company.

The Exchange is requested to take the same on record.
 

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