In a significant corporate move, Shirdi Sai Electricals Limited has pledged a substantial portion of its stake in Indo Tech Transformers Limited to Catalyst Trusteeship Limited. This development, executed on October 30, marks a notable shift in the ownership structure of Indo Tech Transformers.

Key Details of the Pledge

Purpose and Mechanism

The pledge is part of a Debenture Trust Deed arrangement, where Catalyst Trusteeship acts as the Debenture Trustee for the benefit of debenture holders. This move suggests that Shirdi Sai Electricals may have issued debentures, using its stake in Indo Tech Transformers as collateral.

Regulatory Compliance

As per the LODR (Listing Obligations and Disclosure Requirements) data, this transaction has been reported to the National Stock Exchange of India Limited and BSE Limited on November 3. The disclosure was made under Regulation 29(1) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.

Impact on Ownership Structure

Prior to this transaction, there were no existing encumbrances on the shares of Indo Tech Transformers held by Shirdi Sai Electricals. The pledge represents a significant portion of Indo Tech Transformers' total equity share capital, potentially affecting the company's ownership dynamics.

Market Implications

While the pledge does not immediately alter the voting rights or management control of Indo Tech Transformers, it does introduce a new stakeholder in the form of the debenture holders represented by Catalyst Trusteeship. This could have implications for future decision-making processes and potentially impact investor perception of both companies involved.

Indo Tech Transformers Limited has announced a significant update regarding its ongoing legal proceedings. The company disclosed that the ad-interim injunction order, which was initially granted by the court on July 02, 2025, has been vacated effective October 13, 2025.

Key Developments

• Injunction Status: The ad-interim injunction order granted on July 02, 2025, has been vacated as of October 13, 2025.
• Ongoing Proceedings: The original suit for permanent injunction will continue to be heard by the court.
• Operational Impact: Factory operations have remained normal throughout this period.

Legal Disclosure

In compliance with SEBI regulations, Indo Tech Transformers Limited filed a disclosure under Regulation 30 (8) read with Para B of Part A of Schedule III of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The disclosure, dated October 15, 2025, provides an update on the injunction suit.

Company Statement

The company stated, "Pursuant to disposal of Interlocutory application, the ad-interim Injunction order granted by the Honourable Court on July 02, 2025 stands vacated effective October 13, 2025. Further the original suit for the permanent injunction shall continue to be heard. The operations of the factory continues to be normal."

This update reassures stakeholders that despite the legal proceedings, Indo Tech Transformers' business operations have not been disrupted. The company continues to function normally, maintaining its production and services.

Investors and market participants are advised to monitor further developments in the ongoing legal case, as the outcome of the permanent injunction suit may have implications for the company's future operations and market position.