FOREIGN EXCHANGE MANAGEMENT (TRANSFER OR ISSUE OF ANY FOREIGN SECURITY) (AMENDMENT) REGULATIONS, 2004 - Foreign Exchange Management (Transfer or Issue of Any Foreign Security) Regulations, 2004
FOREIGN EXCHANGE MANAGEMENT (TRANSFER OR ISSUE OF ANY FOREIGN SECURITY) (AMENDMENT) REGULATIONS, 2004 - Foreign Exchange Management (Transfer or Issue of Any Foreign Security) Regulations, 2004
Pledge of overseas subsidiary shares permitted as security, subject to RBI limits and regulated overseas lender conditions. An Indian party may pledge shares of a JV, WOS or SDS outside India as security for fund based or non fund based facilities for itself or its group, in ... Summary
Pledge of overseas subsidiary shares permitted as security, subject to RBI limits and regulated overseas lender conditions.
An Indian party may pledge shares of a JV, WOS or SDS outside India as security for fund based or non fund based facilities for itself or its group, in favour of an Authorized Dealer, an Indian public financial institution, or an overseas lender. The facility amount is to be treated as the Indian party's financial commitment and must keep total commitments within Reserve Bank limits. Overseas lenders must be regulated and supervised as banks, and the Reserve Bank may impose additional terms and conditions.
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