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| Exchange Disseminated Time | With reference to earlier disclosure dated January 25, 2012 Essar Shipping & Logistics Ltd has informed BSE as under :
" Further to the disclosure made on January 25, 2012 under Regulation 31(1) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, in relation to the encumbrance created in respect of 142,235,159 equity shares of Essar Shipping Ltd (constituting 69.31% of its paid up share capital) , we hereby states that by virtue of an accession deed dated January 26, 2012 Essar Shipping & Logistics Ltd have now created the encumbrance in favour of Axis Bank Ltd, DIFC {Regulated by the Dubai Financial Services Authority (DFSA)}
The disclosure made on January 25, 2012 under Regulation 31(1) of the SEBI Takeover Regulations may be read as amended by the above."
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