ATLANTA LTD. - 532759 - This Is To Inform That In Anticipation Of Enhancement Of Working Capital Facilities, The Promoter/Promoter Group Had Pledged 4,10,32,116 Equity Shares Of The Company Aggregating To 50.35% Equity As Collateral In Favour Of SBICAP Trustee Limited Appointed As Security Trustee By State Bank Of India Consortium. The Consortium Of Banks In Spite Of Non Disbursement Of Enhanced Facilities Did Not Return The Securities And Hence The Company Has Filed A Suit No.1416 Of 2018 In Bombay High Court Against The Consortium Banks. SBICAP Trustee Limited Vide Their Letter Dated 01-04-2019 Informed The Company Their Intent To Invoke The Pledged Shares. The Company Filed Commercial Suit No. CS(COMM) 186/2019 Before Hon'Ble Delhi High Court And Obtained Stay Which Was Valid Upto 20-05-2019. During The Hearing Dated 20-05-2019, The Matter Was Dismissed And The Stay Granted Earlier Has Been Vacated By Hon'Ble Delhi High Court. This Is For Your Kind Information Please.
21-05-2019 Dear Sir/Madam, This is to inform that in anticipation of enhancement of working capital facilities, the Promoter/Promoter Group had pledged 4,10,32,116 equity shares of the Company aggregating to 50.35% equity as collateral in favour of SBICAP Trustee Limited appointed as Security Trustee by State Bank of India consortium. The consortium of Banks in spite of non disbursement of enhanced facilities did not return the securities and hence the Company has filed a suit No.1416 of 2018 in Bombay High Court against the consortium Banks. SBICAP Trustee Limited vide their letter dated 01-04-2019 informed the Company their intent to invoke the pledged shares. The Company filed commercial suit no. CS(COMM) 186/2019 before Hon'ble Delhi High Court and obtained stay which was valid upto 20-05-2019. During the hearing dated 20-05-2019, the matter was dismissed and the stay granted earlier has been vacated by Hon'ble Delhi High Court. This is for your kind information please. Thanking You, For Atlanta Limited Sd/- Rajhoo Bbarot Chairman DIN: 0003821921-05-2019