Foreign Exchange Management (Transfer or Issue of Security by a Person Resident Outside India) (Sixth Amendment) Regulations, 2014 - 305/2014-RB - Foreign Exchange Management
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Non-resident investor pledge of shares allowed to secure NBFC credit for resident investee company, subject to RBI conditions. A new sub regulation permits a non resident investor of an Indian company listed on a recognised stock exchange to pledge that company's shares in favour of a Non Banking Financial Company in India to secure credit facilities extended to the resident investee company for bonafide business purposes, subject to the authorised dealer bank satisfying itself of compliance with conditions stipulated by the Reserve Bank of India.
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.
Non-resident investor pledge of shares allowed to secure NBFC credit for resident investee company, subject to RBI conditions.
A new sub regulation permits a non resident investor of an Indian company listed on a recognised stock exchange to pledge that company's shares in favour of a Non Banking Financial Company in India to secure credit facilities extended to the resident investee company for bonafide business purposes, subject to the authorised dealer bank satisfying itself of compliance with conditions stipulated by the Reserve Bank of India.
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