EaseMyTrip Co-founder takes ₹212-crore loan for 'personal use', freezes his shares in return

EaseMyTrip Co-founder Nishant Pitti has pledged his startup's shares worth ₹212 crore to Motilal Oswal for "personal use". Pitti pledged 8.66% of EaseMyTrip's total share capital on August 24, meaning that 99% of his total shareholding has now been pledged. The shares haven't been sold but have been provided as security against the loan with a 1:1 security cover.