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of <h1>Promoters can pledge locked-in securities as loan collateral under specific conditions per regulation 115, SEBI Regulations 2018.</h1> Specified securities, excluding SR equity shares, held by promoters and locked in can be pledged as collateral for loans from scheduled commercial banks, public financial institutions, systemically important non-banking finance companies, or housing finance companies. This is permissible if the securities are locked in under clause (a) of regulation 115, where the loan is for financing the issuer company's projects and pledging is a loan condition. Alternatively, if locked in under clause (b) of regulation 115, pledging must also be a loan condition. These provisions are part of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018.
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