Shraddha Prime Projects Promoter Pledges 70,00,000 Shares to HDFC Bank

Shraddha Prime Projects Limited has received formal disclosure from its promoter regarding a significant pledge creation. Mr. Sudhir Balu Mehta has submitted the required documentation to both the company and BSE Limited, detailing the pledge of a substantial portion of his shareholding to secure financing arrangements. Pledge Transaction Details The pledge involves 70,00,000 equity shares held by promoter Sudhir Balu Mehta, representing 17.33% of the company's total share capital. The shares have been pledged in favour of HDFC Bank Limited as security for a loan availed by Shraddha Housing Projects LLP, where Mehta serves as a designated partner. Parameter: Details Shares Pledged: 70,00,000 equity shares Percentage of Total Capital: 17.33% Pledgee: HDFC Bank Limited Date of Creation: February 28, 2026 Type of Encumbrance: Pledge Purpose: Security for loan to Shraddha Housing Projects LLP Promoter Shareholding Impact Prior to this pledge creation, Sudhir Balu Mehta held no encumbered shares. His total promoter holding in the company stands at 30,210,548 shares, representing 74.78% of the total share capital. Following the pledge creation, his post-event encumbered shareholding has increased to 23,210,548 shares. Holding Category: Number of Shares Percentage Total Promoter Holding: 30,210,548 74.78% Previously Encumbered: NIL NIL Current Pledge: 70,00,000 17.33% Post-Event Encumbered Shares: 23,210,548 57.45% Formal Documentation and Compliance The promoter has submitted a formal letter dated February 28, 2026, to both Shraddha Prime Projects Limited and The Stock Exchange Mumbai. The disclosure has been made pursuant to Regulation 31(1) of SEBI (Substantial Acquisition of shares and Takeovers) Regulations, 2011, ensuring full regulatory compliance. The formal documentation includes the standard format for disclosure by promoters to stock exchanges regarding encumbrance of shares. Mr. Mehta's communication was addressed from his registered address at Panorama, The Address, LBS Road, Ghatkopar West, Mumbai, and includes all required details as per SEBI regulations for pledge creation events. Shraddha Prime Projects Ltd. has successfully completed its postal ballot process, with shareholders overwhelmingly approving two key corporate resolutions through electronic voting. The company announced the results on February 19, 2026, following the completion of the e-voting period that ran from January 20, 2026 to February 18, 2026. Postal Ballot Overview The postal ballot process was conducted in accordance with Sections 108 and 110 of the Companies Act, 2013, and Regulation 44 of the SEBI Listing Regulations. The company provided e-voting facility to members through National Securities Depository Limited (NSDL), with the voting period commencing on Tuesday, January 20, 2026 at 9:00 a.m. and ending on Wednesday, February 18, 2026 at 5:00 p.m. Parameter: Details Postal Ballot Notice Date: January 14, 2026 Total Shareholders on Record: 3125 Cut-off Date: January 16, 2026 Scrutinizer: Ms. Neeta H. Desai (ND & Associates) Resolutions and Voting Results Two ordinary resolutions were put to vote, both receiving exceptional shareholder support: Resolution Details Sr. No.: Resolution Type 1 Increase in Authorised Share Capital and Consequent Alteration to the Capital Clause of the Memorandum of Association Ordinary Resolution 2 Appointment of Mr. Ashok Uttam Chandanshive, DIN: 11038160 as a Non-Executive Independent Director Ordinary Resolution Comprehensive Voting Statistics Voting Category: Total Shares Votes Polled Participation (%) Votes in Favour Votes Against Approval (%) Promoter and Promoter Group: 30210548 30210548 100.00 30210548 0 100.00 Public Non-Institutions: 10190452 917508 9.003604551 917498 10 99.99891009 Public Institutions: 0 0 0 0 0 0 Total: 40401000 31128056 77.04773644 31128046 10 99.99996787 Scrutinizer's Confirmation Ms. Neeta H. Desai, Practicing Company Secretary (Membership No. 3262, COP No. 4741) from ND & Associates, served as the appointed scrutinizer for the postal ballot process. Her report confirmed that both resolutions were passed with the requisite majority, with 99.99996787% of total votes polled supporting each resolution. The scrutinizer's report highlighted that the e-voting process was conducted in a fair and transparent manner, with detailed voting results downloaded from the NSDL e-voting platform. The company achieved a total participation rate of 77.04773644% of outstanding shares. Corporate Governance Compliance The postal ballot was conducted in full compliance with regulatory requirements, including the Companies Act, 2013, SEBI Listing Regulations, and various MCA circulars. The company sent the postal ballot notice by email to all shareholders who had registered their email addresses with the company or depositories as of the cut-off date. Managing Director Sudhir Balu Mehta (DIN 02215452) declared both resolutions as duly passed ordinary resolutions, enabling the company to proceed with the authorized share capital increase and the appointment of the new independent director to strengthen its board composition. We’re building Scanx - to help you express your trading & investing idea, to help you analyse the markets better. Stock Markets are the true indicator of the growth of any country's economy. We are bullish on India, we are bullish on India's prospects to be one of largest economies of the world. We believe that Stock Markets provide an unique opportunity for all Indians to participate in the growth story of India. We are enabling the same for Indians. As financial services are becoming more accessible, there is now a large set of Indians today who are financially aware and literate. They value time and seek high quality products & services. 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