Ventive Hospitality promoters have restructured how their shares are encumbered.

BRE Asia ICC Holdings Ltd (Promoter 1) had an *indirect* pledge on its *own shares* (which in turn linked to Ventive shares) released, previously backing a $180 million loan.

However, Promoter 1 has simultaneously *created a new, direct pledge* on its 5.21 Cr Ventive Hospitality shares.

Similarly, BREP Asia III India Holding Co VI Pte.

Ltd. (Promoter 2) also saw an indirect pledge released but *created a new, direct pledge* on its 2.35 Cr Ventive Hospitality shares.

The key takeaway for investors is a shift from indirect to direct pledges on Ventive Hospitality shares, with existing covenants continuing, meaning the shares remain largely encumbered but under a new arrangement.