Creation of Charge on Immovable / Movable Property and other Financial Assets

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....An Indian party may create charge (by way of mortgage, pledge, hypothecation or otherwise) on its assets [including the assets of its group company, sister concern or associate company in India, promoter and / or director] in favour of an overseas lender as security for availing of the fund based and/or non-fund based facility for its Joint Venture (JV) or Wholly Owned Subsidiary (WOS) or Step Dow....

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....s overseas JV or WOS or SDS in favour of an AD bank in India as security for availing of the fund based and/or non-fund based facility for itself or its JV or WOS or SDS outside India. Provided that (a) The value of the facility is reckoned as financial commitment for the Indian party and the total financial commitment of the Indian party remains within the limit stipulated by th....

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....ted 08-05-2013, w.e.f. 28-03-2012. 2. Substituted vide Notification No. FEMA/322/RB-2014, 14-10-2014, w.e.f. 14-10-2014 before it was read as, ^"1[18A Creation of charge on immovable / movable property and other financial assets An Indian Party, with prior approval of the Reserve Bank, may transfer, by way of mortgage / pledge / hypothecation, the immovable / m....