Foreign Exchange Management (Transfer or Issue of Security by a Person Resident Outside India)

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....omic Affairs) (F.M. SECTION) RESERVE BANK OF INDIA (Foreign Exchange Department) (CENTRAL OFFICE) NOTIFICATION Mumbai, the 10th November, 2009 No. FEMA 202/2009-RB G.S.R. 851(E) - In exercise of the powers conferred by clause (b) of sub-section (3) of Section 6 and Section 47 of the Foreign Exchange Management Act, 1999 (42 of 1999), the Reserve Bank of India hereby makes t....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ter referred to as the Principal Regulations'), a new Regulation 12 shall be inserted and shall be deemed to have been inserted with effect from 11th day of July, 2008, namely: - "12 Pledge of shares of company incorporated in India— (i) Any person being a promoter of a company registered in India (borrowing company), which has raised external commercial borrowing, may pledge the shares of....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....LRN) from the Reserve Bank (Amendment) Rules, 2009. Provided, that the 'no objection' may be granted by a bank which is an authorised dealer subject to the following conditions. Namely:- (a) the period of such pledge shall be co-terminus with the maturity of the underlying external commercial borrowing: (b) in case of invocation of pledge, transfer shall be in accordance with the extent F....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....(i) and subsequently amended as under:- No. G.S.R.158(E), dated 02-03-2001 No. G.S.R.175(E), dated 13-03-2001 No. G.S.R. 182(E), dated 14-03-2001 No. G.S.R. 4(E), dated 02-01-2002 No. G.S.R. 574(E), dated 19-08-2002 No. G.S.R. 223(E), dated 18-03-2003 No. G.S.R. 225(E), dated 18-03-2003 No. G.S.R. 558(E), dated 22-07-2003 No. G.S.R. 835(E), dated 23-10-2003 No. G.S.R.....