Mac Charles India Ltd — Insider Trading, 01-01-1970: Insider Trading / SAST

Embassy Property Developments, a promoter of Mac Charles (India) Limited, has clarified a covenant acting as an encumbrance on 51% of Mac Charles (India)'s shares. This is linked to 540 Cr Non-Convertible Debentures issued by Mac Charles Hub Projects Private Limited, a subsidiary. The debentures become repayable if the promoter group's shareholding in Mac Charles (India) falls below 51% or if they lose control. This arrangement ties the promoter's continued majority ownership and control directly to the terms of the subsidiary's significant debt.