Pledge of Shares of Joint Ventures and Wholly Owned Subsidiaries

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....Step down Subsidiary (SDS) An Indian Party may create charge, by way of pledge, on the shares of Joint Venture (JV) or Wholly Owned Subsidiary (WOS) or Step Down Subsidiary (SDS) outside India [held directly by the Indian party in JV or WOS and indirectly in SDS] as a security in favour of an Authorized Dealer or a public financial institution in India or an overseas lender, for availing of fun....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

..... G.S.R. 13(E) dated 9/10/2007 (w. e. f. the 20th day of April, 2007) 2. Substituted vide NOTIFICATION No. FEMA/322/RB-2014, Mumbai, 14 October, 2014, before it was read as,  "18. Pledge of Shares of Joint Ventures and Wholly Owned Subsidiaries An Indian Party may transfer, by way of pledge, shares held in a Joint Venture or Wholly Owned Subsidiary outside India as a security for ava....