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A ‘non-disposal commitment’ is an agreement between the borrower and the lender. According to this, if the person has a share in the company, then he cannot change the shareholding in the entity in question through any other agreement, that is, he cannot transfer the shares.
Group companies Adani Ambuja Cement Ltd. and ACC Ltd. Ltd said on Thursday that the developers have not promised any shares in the companies. There is a commitment not to alienate only the debt. A ‘non-disposal commitment’ is an agreement between the borrower and the lender. According to this, if the person has a share in the company, then he cannot change the shareholding in the entity in question through any other agreement, that is, he cannot transfer the shares.
In a joint notice to stock exchanges, Ambuja Cement Ltd. and ACC Ltd. said reports of pledges of shares by developers to finance the acquisition are misleading. According to the statement, “This is a rumor amid market volatility…”. The promoters have only given a ‘non-disposal pledge.’” The statement by the two companies came a day after Adani Enterprises canceled its Rs 20,000 crore follow-on public offer (FPO).
Disclaimer:Prabhasakshi has not edited this news. This news has been published from PTI-language feed.
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