Companies disclose details of pledged shares

As per the Securities and Exchange Board of India guideline, it is compulsory for promoters to disclose the end use of funds raised through pledging their shares with financiers.

This move intended to increase transparency and provide more information to the investors. Such information would help investors find out if the money has been used to fund comparatively risky activities like property speculation, unrelated diversification or personal expenditure.

Now all companies will have to reveal information about shares pledged by promoters within a period of 7 days after the promoters intimate the companies.

The regulator's announcement comes in the wake of the Satyam scam, wherein promoter Ramalinga Raju had pledged nearly all his shares, whose prices he had inflated by falsifying profits.

Few companies, which revealed their details after SEBI's notification, are as follows:-

Aban Offshore	8%
Ahluwalia Contracts	18%
Ansal Housing	30%
Asian Paints	15%
Bombay Rayon	18.43%
Cranes Software	27%
Dhampur Sugar Mills	18%
Dhanush Technologies	34%
Dolphin Offshore	30%
Ganesh Housing	30%
Great offshore	15%
Gujarat NRE Coke	16%
India Cements	82%
Indian Hotels	3.50%
Jindal Drilling	26%
JP Hydro	60%
Jubilant Organsys	13.66%
Kamat Hotels	47%
Kitply Industries	35%
Mascon Global	52%
Maytas Infra	100%
Micro Inks	70%
Nagarjuna Fertilisers	24.56%
Radaan media works	23%
Rain Commodities	21%
Shyam Telecom	20%
SRF	32%
Tata Coffee	100%
Tata Motors	28%
Tata Power	14.60%
Tata Steel	13.50%
Tata Teleservices	95%
Torrent power	21%
Unitech	100%
UTV Software	23%
Zuari Industries	70%