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Embassy Property Developments pledges shares in Mac Charles to secure Rs 270 crore loan
07-Aug-2026, 06:46
Embassy Property Developments Private Limited has created a pledge over 66,81,537 equity shares, representing 51% of the share capital, of Mac Charles (India) Limited, to Catalyst Trusteeship Limited, acting as a common security trustee, in favor of Standard Chartered Bank- IFSC Gift City, as per a debenture trust deed dated July 24, 2026. The pledge, created on July 29, 2026, relates to non-convertible debentures issued by Calatheas Developments Private Limited, with a total value of Rs 270 crore secured against shares worth Rs 4,64,19,97,831, and the borrowed amount will be utilized for granting an inter-corporate loan to Embassy Maverick Malls Private Limited and general corporate purposes.
Embassy Property Developments Private Limited has created a pledge over 66,81,537 equity shares, representing 51% of the share capital, of Mac Charles (India) Limited, to Catalyst Trusteeship Limited, acting as a common security trustee, in favor of Standard Chartered Bank- IFSC Gift City, as per a debenture trust deed dated July 24, 2026. The pledge, created on July 29, 2026, relates to non-convertible debentures issued by Calatheas Developments Private Limited, with a total value of Rs 270 crore secured against shares worth Rs 4,64,19,97,831, and the borrowed amount will be utilized for granting an inter-corporate loan to Embassy Maverick Malls Private Limited and general corporate purposes.