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        SEBI

        Regulation 242 - 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 TRANSFERRABILITY

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        Pledge of locked-in securities permitted as loan collateral to specified lenders subject to lock-in continuation and transfer restrictions. Pledge of locked-in specified securities by promoters is permitted as collateral for loans from specified lenders if the pledge is a term of sanction; for securities locked-in under clause (a) of regulation 238 the loan must finance objects of the issue and be to the issuer or its subsidiary. The lock-in continues after pledge invocation and any transferee cannot transfer the securities 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 loan collateral to specified lenders subject to lock-in continuation and transfer restrictions.

                              Pledge of locked-in specified securities by promoters is permitted as collateral for loans from specified lenders if the pledge is a term of sanction; for securities locked-in under clause (a) of regulation 238 the loan must finance objects of the issue and be to the issuer or its subsidiary. The lock-in continues after pledge invocation and any transferee cannot transfer the securities until the lock-in period expires.


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