Kotak Mahindra Bank (KMB) has released encumbrance on 43,41,669 shares of Shriram City Union Finance Ltd (SCUF) which was created in its favour as lender.
The aforementioned shares amounted to 6.48 per cent of total share/ voting capital of SCUF.
The mode of release of the encumbrance is as per the terms and conditions of Term Loan facilities extended to the borrower, the Bank said in a regulatory filing.
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