https://www.taxtmi.com/circulars?id=11090 The Securities Lending Scheme allows a lender to deposit securities with a registered approved intermediary who may lend them to a borrower; beneficial interest and corporate benefits remain with the lender while title vests with the borrower who must return equivalent securities and corporate benefits. The approved intermediary issues receipts, may act as trustee, must maintain records, take collateral and fees from borrowers, guarantee return of equivalents (or make good losses), liquidate collateral on default and notify authorities. The Board clarified such fungible share lending is not an exchange constituting a "transfer" for capital gains purposes. en-us Mon, 10 Feb 1997 00:00:00 +0530 Mon, 20 Jun 2011 17:32:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=11090 The Securities Lending Scheme allows a lender to deposit securities with a registered approved intermediary who may lend them to a borrower; beneficial interest and corporate benefits remain with the lender while title vests with the borrower who must return equivalent securities and corporate benefits. The approved intermediary issues receipts, may act as trustee, must maintain records, take collateral and fees from borrowers, guarantee return of equivalents (or make good losses), liquidate collateral on default and notify authorities. The Board clarified such fungible share lending is not an exchange constituting a "transfer" for capital gains purposes. Circulars Companies Law Mon, 10 Feb 1997 00:00:00 +0530 https://www.taxtmi.com/circulars?id=11090