Escrow Payment Mechanism not applicable to the company, clarifies to BSE

Company has told BSE that the Escrow Payment Mechanism submission does not apply to it.

Tue 6 Oct 2026

Scrip Code

532404

Reference Cited

Para 4 of Continuous disclosures and compliances by listed entities under the SEBI (Issue and Listing of Municipal Debt Securities)…

Circular Date

November 13, 2019

A clarification to the exchange

Saven Technologies Limited has written to BSE about the Escrow Payment Mechanism, in reply to an email from the exchange seeking details on the subject.

What the company said

• The requirement to submit details of the Escrow Payment Mechanism does not apply to the company.
• The reason given is that the company has not issued and does not have any instruments or arrangements for which the mechanism applies under the relevant SEBI Regulations.
• It states that accordingly no disclosure or submission is required in this respect, and asks BSE to take the clarification on record.

The reference cited

The letter refers to the Scrip Code 532404 and to Para 4 of Continuous disclosures and compliances by listed entities under the SEBI (Issue and Listing of Municipal Debt Securities) Regulations, as per the circular dated November 13, 2019.

What an escrow payment mechanism is

In simple terms, an escrow payment mechanism is an arrangement where money is parked in a designated escrow account and released only when pre-set conditions are met. It is typically used where a company has issued certain debt or similar instruments, so that the interests of those who hold them are protected.

The company is saying it has no such instrument or arrangement, and therefore this requirement does not apply to it.

How to read this

• This is a clarification about a compliance submission, not a new business development.
• It does not relate to the company's operations, financials or shareholding.
• It places on record the company's position that it has no instruments or arrangements of the kind this requirement covers.

The letter is signed by Vasista Raghava Padmannagari, Company Secretary.

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