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Amtek Auto has pledged its entire stake of 71 per cent in group firm JMT Auto with IL&FS Trust Company. In a notice to the exchanges, JMT Auto said Amtek Auto has pledged 18.07 crore shares, constituting 71.73 per cent stake, with the IL&FS Trust. In 2013, Amtek Auto had acquired controlling stake in JMT Auto, bringing the latter within the Amtek Group. It may be recalled that Amtek Auto had defaulted on repayment of bonds worth ₹800 crore in September.
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