Punjab Alkalies & Chemicals has informed that 75,00,000 equity shares of face value Rs.10 each were allotted to Durva lnfratech LLP (Durva) on preferential basis for consideration other than cash for purchase of plant and machinery on EPC basis for setting up of captive power plant. Durva lnfratech LLP (Durva) has created pledge on 3,75,00,000 equity shares of face value of Rs.2 each (consequent upon split /subdivision of the said 75,00,000 shares on 28.01.2022) in favour of IDBI Trusteeship acting as Escrow Agent/ Share Pledge Trustee of PACL for securing performance obligation of Durva lnfratech LLP and recovery of damages caused for non- performance of contract terms by Durva Infratech LLP, if any, in future.
The above information is a part of company’s filings submitted to BSE.