Veranda Learning promoters pledge shares for ₹111 crore credit
‘The agreement is for ₹111 crore loan availed by the promoters in their personal capacity from the lender, secured by a first-ranking and exclusive pledge over certain equity shares of Veranda Learning held by the promoters’
The promoters of Veranda Learning Solutions, Kalpathi S Aghoram, Kalpathi S Ganesh, and Kalpathi S Suresh, have pledged shares in the company to secure a credit facility of ₹111 crore, according to an exchange filing. This pledge agreement, which has not been attested, establishes a first-ranking and exclusive pledge over equity shares held by the promoters.
Authum Investment & Infrastructure Ltd, a significant shareholder with 10.8% of the company's paid-up equity capital, is involved as the lender. The pledge does not alter the company's management or control, but could impact share distribution if invoked or enforced by the lender.
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