Regulation 21 - Pledge of locked-in specified securities
Securities And Exchange Board of India (Issue Of Capital And Disclosure Requirements) Regulations, 2018 Part IV LOCK-IN AND RESTRICTIONS ON TRANSFERABILITY
📋
Contents
Cases Cited
Referred In
Notifications
Circulars
Forms
Manuals
Acts
Rules & Regulations
Case Laws New
Ref Provisions New
Plus +
Source NTF
Summary
Similar
Note
Bookmark
Share
✓ Copied successfully !
Print
Print Options
For full text, please login
Login to TaxTMI
Verification Pending
The Email Id has not been verified. Click on the link we have sent on
Pledge of locked-in securities permitted as collateral for specified lenders, but lock-in continues after invocation. Pledge of locked-in specified securities held by promoters is permitted as collateral for loans from scheduled commercial banks, public financial institutions, systemically important NBFCs, or housing finance companies where the pledge is a term of sanction; if locked-in under clause (a) of regulation 16 the loan must finance objects of the issue and be to the issuer or its subsidiary. The lock-in continues after invocation and transferees cannot transfer until the lock-in period expires.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Pledge of locked-in securities permitted as collateral for specified lenders, but lock-in continues after invocation.
Pledge of locked-in specified securities held by promoters is permitted as collateral for loans from scheduled commercial banks, public financial institutions, systemically important NBFCs, or housing finance companies where the pledge is a term of sanction; if locked-in under clause (a) of regulation 16 the loan must finance objects of the issue and be to the issuer or its subsidiary. The lock-in continues after invocation and transferees cannot transfer until the lock-in period expires.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.