07 October 2010
If third party wants to take loan against shares of an unlisted public company from private limited company,what procedure need to follow.
08 October 2010
I think this transaction should be supported by a pledge agreement through which third party hand over the share certificate as pledger to the pledgee against the loan amount.
Third party should also check the powers of private co. for providing loan assistance. Also collect a copy of board resolution of pvt. company authorising the transaction.
CAclubindia
