Regulation 39 - Pledge of locked-in specified securities.
Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009 Part IV RESTRICTION ON TRANSFERABILITY (LOCK-IN) OF PROMOTERS’ CONTRIBUTION, ETC.
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Pledge of locked-in securities permitted as collateral where pledge is a loan sanction term and loan finances issue objects. Pledge of locked-in specified securities held by promoters is allowed as collateral with scheduled commercial banks or public financial institutions, provided that when locked-in under clause (a) of regulation 36 the loan finances one or more objects of the issue and pledge is a term of sanction, and when locked-in under clause (b) of regulation 36 the pledge is a term of sanction.
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 where pledge is a loan sanction term and loan finances issue objects.
Pledge of locked-in specified securities held by promoters is allowed as collateral with scheduled commercial banks or public financial institutions, provided that when locked-in under clause (a) of regulation 36 the loan finances one or more objects of the issue and pledge is a term of sanction, and when locked-in under clause (b) of regulation 36 the pledge is a term of sanction.
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