Regulation 119 - 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
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Pledge of locked-in specified securities permitted when pledge is an express loan sanction term and lender is specified. Pledge of locked-in specified securities by promoters is allowed as collateral for loans from scheduled commercial banks, public financial institutions, systemically important NBFCs, or housing finance companies only where the pledge is an express term of the loan sanction; if locked-in under regulation 115(a) the loan must be to the issuer or its subsidiaries to finance objects of the issue. SR equity shares are excluded.
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 specified securities permitted when pledge is an express loan sanction term and lender is specified.
Pledge of locked-in specified securities by promoters is allowed as collateral for loans from scheduled commercial banks, public financial institutions, systemically important NBFCs, or housing finance companies only where the pledge is an express term of the loan sanction; if locked-in under regulation 115(a) the loan must be to the issuer or its subsidiaries to finance objects of the issue. SR equity shares are excluded.
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