The Hindu Business Line : Aztec promoter transfers stake

BANGALORE: The promoter director of Aztec Software and Technology Services, Mr S. Parthasarathy, has transferred his stake of 10.46 per cent in the company to his family trust - Chellamma Trust.

Company sources cited personal reasons behind Mr Parthasarathy's move. The Trust bought 42,28,993 shares of Mr Parthasarathy through off-market transaction on September 10, the company said in a notice to the stock exchange.

The shareholding of Chellamma Trust after the said acquisition is 42,28,993 shares constituting 10.4691 per cent of the voting rights of Aztec Software, where as the shareholding of Mr Parthasarathy after the sale was nil. However, Mr Parthasarathy continues to be the director of the company, sources added.

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