Textile spinning company, Reliance Chemotex Industries, today said four of its promoters have pledged in total 5,86,400 equity shares or 16.91 per cent stake and two of its promoters have pledged 1,75,000 preference shares with IDBI Bank and State Bank of India.
Four of its equity shareholders and two of its preference shareholders have pledged their shares with financial institutions as additional security for loan, the company said in a filing to the Bombay Stock Exchange.
Shanker L Shroff has pledged 1,95,650 shares and Sanjiv Shroff has pledged 83,800 shares of the company, the filing added.
Further, Bimladevi Shroff has pledged 1,57,800 shares and Dipika Shroff has pledged 1,49,150 shares of the company, it said.
"These equity shares have been pledged with IDBI Bank as additional security for loans by IDBI Bank," the company said.
Further, Shanker L Shroff and Sanjiv Shroff two of the preference shareholders have pledged in total 1,75,000 shares.
"These preference shares have been pledged with State Bank of India as additional security for loan granted by it," the filing added.
