Anil Jain, Managing Director, pledged a total of 28,71,215 shares, representing approximately 2.1% of the total, to Beacon Trusteeship Limited for Vivriti Capital, among other entities, according to a document signed October 13, 2026, in Chennai. The pledges, which also involved Infosoft Global Private Limited, Krchoksey Financial Services Private Limited, S Jogani Exports Private Limited, Frazer Goods & Supply Private Limited, and Minecs Finvest Private Limited, were primarily for personal use by promoters, with some designated for Refex Holding Private Limited. Several entries noted that additional shares were pledged to meet security cover requirements, suggesting initial pledges were insufficient. The document does not disclose the total number of shares held by Refex Holding Private Limited, the loan amounts secured, or the terms of the loans, raising governance concerns regarding the use of company assets for personal obligations.
