Mac Charles has reported that Embassy Property Developments Private Limited has released pledges on a significant portion of its stake in the company, according to a recent disclosure. The move involves the release of encumbrances on 9,616,952 equity shares, representing 73.41% of Mac Charles' total share capital.

Pledge Release Details

The pledge releases were related to multiple loan arrangements with Indiabulls Commercial Credit Limited and Indiabulls Housing Finance Limited. Here's a breakdown of the key details:

Loan Details

The pledges were originally created in connection with loans taken by Embassy Property Developments and LJ-Victoria Properties Private Limited. One of the significant loans mentioned in the disclosure was for Rs. 187.00 crores, taken by Embassy Property Developments from Indiabulls Commercial Credit Limited.

Implications

The release of these pledges may indicate a change in the financial position of Embassy Property Developments. However, it's important to note that the specific reasons for the pledge releases were not explicitly stated in the disclosure.

Regulatory Compliance

This disclosure was made in compliance with Regulations 31(1) and 31(2) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. Such disclosures are crucial for maintaining transparency in the stock market and keeping investors informed about significant changes in shareholding patterns or encumbrances.

The release of pledges on such a substantial portion of Mac Charles' shares may be of interest to market participants. Investors and stakeholders may want to monitor any further developments or announcements from either Embassy Property Developments or Mac Charles for additional context or implications of this corporate action.

Mac Charles (India) Limited , a prominent player in the Indian real estate sector, has received a significant order from the National Company Law Tribunal (NCLT) regarding its proposed Scheme of Arrangement with Embassy Prism Ventures Limited. The company has now requested an extension for convening the equity shareholders' meeting due to certain factual discrepancies in the order.

Latest Development

Mac Charles (India) Limited received the order from the National Company Law Tribunal, Bengaluru Bench, on January 6, 2026. However, the company has identified certain factual discrepancies in the order that require rectification. Consequently, the company is seeking an extension for convening the equity shareholders' meeting as directed by the NCLT, citing paucity of time.

Background of the Scheme

The Scheme of Arrangement involves Mac Charles (India) Limited as the demerged company and Embassy Prism Ventures Limited as the resulting company, along with their respective shareholders. The scheme operates under Sections 230 to 232 and other applicable provisions of the Companies Act, 2013.

Previous Milestones

The company had previously achieved several key milestones in the restructuring process:

Regulatory Compliance

Mac Charles (India) Limited has maintained compliance with all regulatory requirements throughout the process. The BSE had earlier approved the scheme through an observation letter dated August 21, 2025, without raising any adverse observations or suggesting modifications to the proposed arrangement.

Next Steps

The company has indicated that it will provide updates shortly regarding the rectification of factual discrepancies and the extension request for the shareholders' meeting. The resolution of these issues will be crucial for the smooth progression of the Scheme of Arrangement.

Investors and stakeholders will be monitoring these developments closely, as the successful implementation of the scheme could have significant implications for both Mac Charles (India) Limited and Embassy Prism Ventures Limited.