Pledge of shares of company incorporated in India

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..... 17 1 [12 Pledge of shares of company incorporated in India- (i) Any person being a promoter of a company registered in India (borrowing company), which has raised external commercial borrowing, may pledge the shares of the borrowing company or that of its associate resident companies for the purpose of securing the external commercial borrowing (ECB) raised by the borrowing comp .....

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..... n' may be granted by a bank which is an authorised dealer subject to the following conditions. Namely:- (a) the period of such pledge shall be co-terminus with the maturity of the underlying external commercial borrowing: (b) in case of invocation of pledge, transfer shall be in accordance with the extent FDI policy and directions issued Reserve Bank; (c) .....

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..... as bank to secure the credit facilities being extended to the non-resident investor or non-resident promoter of the resident investee company or its overseas group company subject to the AD bank satisfying itself of the compliance of the conditions stipulated by the Reserve Bank from time to time in this regard. ] 3 [(v) Any person being a non-resident investor of a company registered in India .....

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