ASECURWAR Financial Overview

PROMOTERS' PLEDGING: CLARIFICATION JSLA JINDAL STAINLESS 41 There is no loan raised against the promoters' shares (LAS), and therefore there is no linkage between the pledged shares and their market value Accordingly, there is no requirement of maintaining any margins, since the aforesaid shares are offered only as an additional collateral/secondary security and the operating companies assets remain as the primary security Therefore, any change in the share price does not trigger any margin requirements/calls by lenders

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