Educomp to inform investors before sale, if any

Taking a step towards boosting investor confidence, Educomp, which is fighting allegations of “accounts fudging”, has decided to take shareholders into confidence before its owners plan to sell stakes, company MD Shantanu Prakash said.

Taking a step towards boosting investor confidence, Educomp, which is fighting allegations of “accounts fudging”, has decided to take shareholders into confidence before its owners plan to sell stakes, company MD Shantanu Prakash said.

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“We have taken two initiatives that, we hope, will go a long way in Educomp setting the benchmark in corporate disclosure and transparency.

The promoter group will disclose its intention to sell shares, if any, in advance, at the beginning of each quarter and independent certification by NSDL and CSDL on the issue of pledging of shares by promoter group,” Prakash said.