Introducing the “In Favour Of” filter in Case Laws.
- ⚖️ Instantly identify judgments decided in favour of the Assessee, Revenue, or Appellant
- 🔍 Narrow down results with higher precision
Try it now in Case Laws →
TaxTMI Login
🚀 New Feature Launched ✕
Just a moment...
Introducing the “In Favour Of” filter in Case Laws.
Try it now in Case Laws →
Press 'Enter' to add multiple search terms. Rules for Better Search
of 
of 
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of of 
All Circulars
of of All Circulars
Note
Bookmark
Share
Don't have an account? Register Here
of <h1>RBI Allows AD Category-I Banks to Facilitate Pledge of Shares by Non-Residents to NBFCs for Business Credit.</h1> The circular addresses the delegation of powers to Authorized Dealer Category - I banks to allow the pledge of equity shares of Indian companies held by non-resident investors in favor of Non-Banking Financial Companies (NBFCs). This is intended to secure credit facilities for resident investee companies for bona fide business purposes. Conditions include pledging only listed shares, adherence to credit concentration norms, obtaining board resolutions and auditor certificates, and compliance with SEBI disclosure norms. In case of a breach upon invocation of pledge, shares must be sold to rectify the breach within 30 days. The circular is issued under the Foreign Exchange Management Act, 1999.
TaxTMI 
TaxTMI 
