Margin pledge requirement: client securities must be pledged and re pledged through the depository system, prohibiting title transfers. SEBI requires client collateral in dematerialised securities to be accepted only as a margin pledge in the depository system, prohibits off market title transfers for margin, mandates segregated tagged demat accounts for client securities margin pledges and margin funding, and prescribes a chain of pledge and re pledge (client TM CM CC) with client confirmation, visibility, and specified procedures for release and invocation to ensure re pledged securities are applied only to the pledgor's exposure.
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Provisions expressly mentioned in the judgment/order text.
Margin pledge requirement: client securities must be pledged and re pledged through the depository system, prohibiting title transfers.
SEBI requires client collateral in dematerialised securities to be accepted only as a margin pledge in the depository system, prohibits off market title transfers for margin, mandates segregated tagged demat accounts for client securities margin pledges and margin funding, and prescribes a chain of pledge and re pledge (client TM CM CC) with client confirmation, visibility, and specified procedures for release and invocation to ensure re pledged securities are applied only to the pledgor's exposure.
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