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

Embassy Property Developments, a promoter of Mac Charles (India) Limited, has disclosed the creation of an encumbrance on 6,681,537 shares, representing 51% of Mac Charles's total share capital. This encumbrance is linked to the issuance of ₹540 crore Non-Convertible Debentures by Mac Charles Hub Projects Pvt Ltd, a wholly-owned subsidiary. The terms stipulate that if Embassy Property Developments' 51% ownership or control over Mac Charles (India) is lost, the debenture debt becomes repayable. This highlights a financial covenant tied to the promoter's stake.