Embassy Developments Ltd: Promoters Disclose Reasons for Encumbrance on Equity Shares

Embassy Property Developments Private Limited and JV Holding Private Limited, promoters of Embassy Developments Ltd, have disclosed the reasons for encumbrance (pledge) on the company's equity shares. The encumbrance is related to unrated, unlisted, non-convertible debentures worth ₹ 500,00,00,000/- and ₹ 285,00,00,000/- for Embassy Property Developments Private Limited and JV Holding Private Limited respectively. The funds are utilized towards working capital and general corporate purposes. The encumbrance involves 5.61% and 6.01% of the total share capital for Embassy Property Developments Private Limited and JV Holding Private Limited respectively.