Disclosure under SEBI Takeover Regulations

Modis Navnirman Limited has submitted a disclosure to the NSE, complying with Regulation 31(4) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. This regulation specifically mandates the disclosure of encumbrances (like pledges) on shares held by company promoters. The announcement itself does not contain specific financial figures or details regarding the nature or extent of any such encumbrance. For investors, this type of disclosure is significant as it provides insight into the financial position of promoters and potential implications for shareholding stability. It confirms the company's adherence to regulatory requirements concerning promoter shareholding and control.