GMR Infrastructure on Friday said it has pledged 3.75 crore equity shares in favour of Times Innovative Media Ltd on March 19.
However, the company said it unintentionally missed to inform the bourses about this disclosure during transition of from office to home in the wake of COVID-19.
"We wish to inform that 3,75,00,000 equity shares of GMR Infrastructure Limited have been pledged by the Company in favour of Times Innovative Media Limited on March 19, 2020," the company said in a filing to the BSE.
It said during our internal due diligence, it observed that this intimation has missed disclosure unintentionally during the initial hiccups faced while transition of work from office to remote working from home as per advisory issued by Ministry of Corporate Affairs to combat Covid-19 Pandemic.
"However, submission of disclosure of reasons for encumbrance for this transactions was duly submitted within the prescribed timelines. As such, we request you to kindly treat this disclosure to be in order please as the delay was on account of dislocation and disruption arising under the extraordinary situation of lockdown due to Covid-19," it added.
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