Creation/Invocation of pledge of securities through depository system

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....k for pledging of shares through the depository system is prescribed in paragraph 4.13 of the SEBI Master Circular for Depositories dated December 03, 2024 ('Master Circular') read with Regulation 79 of the Securities and Exchange Board of India (Depositories and Participants) Regulations, 2018 ('DP Regulations'). 2. In terms of the said framework, the Depositories are, inter alia, required to ....

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....alia, make provision for the pledger and pledgee to undertake the following: 4.13.3.1 The pledgee undertakes to provide reasonable notice to the pledger and comply with the requirements of Sections 176 and 177 of the Indian Contract Act, 1872. 4.13.3.2 The pledger and pledgee undertake to abide with the provisions of the Indian Contract Act, 1872, the Depositories Act, SEBI Regul....

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....sseminate the same on their websites. 6. The provisions of this circular shall be implemented on or before April 6, 2026. 7. This circular is issued in exercise of the powers conferred under Section 11(1) of the Securities and Exchange Board of India Act, 1992 read with Section 26(3) of the Depositories Act, 1996 and Regulation 97 and Regulation 79 of the Securities and Exchange Board of Ind....