Akar Tools - Disclosure Of Pledge Of Shares- Feb 21, 2009

Akar Tools Ltd has informed that these shares were pledged as collateral in favour of Punjab National Bank to secure financial assistance.

1. Name of the Promoter / Person forming part of the Promoter group - Akar Alloys Pvt Ltd
No of Shares Pledged as on January 28, 2009 - 185600
% of pledged shares to the Total paid up capital - 3.44%
Name of the Pledgee - Punjab National Bank
Purpose - To secure collateral for the financial assistance
Total No of Shares held on January 28, 2009 - 621000
% to the Total paid up capital - 11.51%
2. Name of the Promoter / Person forming part of the Promoter group -
Lavanya Finvest Pvt Ltd
No of Shares Pledged as on January 28, 2009 - 100000
% of pledged shares to the Total paid up capital - 1.85%
Name of the Pledgee - Punjab National Bank
Purpose - To secure collateral for the financial assistance
Total No of Shares held on January 28, 2009 - 160000
% to the Total paid up capital - 2.97%