Ramesh, who is promoter of Green Ltd. holds 20% of paid-up share capital of the company. The shares of the company are listed on National Stock Exchange. Ramesh intends to pledge his shares for obtaining loan. State the

Disclosure of pledged shares Regulation 31 of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 contains provisions relating to disclosure of pledged shares. Since the company is a listed company, hence provisions of Regulation 31 of SEBI (SAST) Regulations, 2011 would apply. The promoter Ramesh shall disclose details of shares pledged with the bank within 7 working days of such pledge to the target company at its registered office and to the stock exchange where the shares of the target company are listed. Further, Ramesh shall inform the target company at its registered office and the Stock Exchange, where the shares of the company are listed, the details of any invocation or release of such pledge of shares held by him within 7 working days of the occurrence of such an event.