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| Exchange Disseminated Time | Hindustan Motors Ltd has submitted the disclosure under Regulation 8A of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 1997 to BSE
Date of Reporting : January 25, 2011
Name of the Company : Hindustan Motors Ltd
Total no of outstanding shares of the Company : 161171993 Ordinary Shares of Rs 5/- each *
Name of the Entity : National Bearing Co. (Jaipur) Ltd
Details of Transaction
Date of Transaction : January 24, 2011
Number of Shares Pledged : 55,00,000
Aggregate details after the transaction
Total no of shares held by the entity in the Company : 2,26,12,354
Total No of shares pledged : 2,26,12,354
% of total shares pledged to total no of shares held by the entity in the Company : 100.00%
% of shares pledged to total no of outstanding shares of the Company : 14.03%
Note :
As per the terms of sanction of financial restructuring of the Company under Corporate Debt Restructuring (CDR) the entire shareholdings of the core promoters in the Company have been pledged since 2005 with ICICI Bank Ltd., being the lead bank for all the lenders under CDR as additional security for credit facilities provided to the Company. There have been inter-se transfer of shares by the core promoters. The said shares have been pledged with ICICI Bank Ltd. (being the lead bank for all the lenders under CDR) in terms of the said sanction of CDR.
* Paid up value of Equity Shares has been reduced from Rs.10/- each to Rs.5/- with effect from January 11, 2011. |
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