Subex LTd, Chairman, MD and CEO, Subash Menon pledged 9.8 lakh shares with State Bank of India in April 2008 as collateral for a corporate loan issued.
Compared to 25 lakh shares held by Menon in total, the stake as pledge comes out to be more than 30 percent of his personal stake in the company.
Another company, Kivar Holdings P Ltd which has 15.2 lakh shares in Subex also pledged shares in March 2008, for corporate loan issued to the company.