Get 3 Yrs of CCI Pro Membership at Greater Value. Subscribe Now!

Pledge of shares

663 views

Save Share

Join Us Follow Us Add as Source

Bhavani Prasad CN

Company Secretary

29 Points Posted on 15 June 2010

Dear friends

Can a foreign company offer shares held by it in an Indian listed company as security (pledge)... if yes, is approval of RBI required for the same

What are the requisite forms and approvals to be filed.

Urgent reply is expected

Thanks in advance.

Replies (1)

Ankur Garg

Company Secretary and Compliance Officer

75761 Points Posted on 15 June 2010

Dear Sir,

Not really aware about the forms and procedure. However role of RBI in this pledge process is sure according to me. So i'd request you to contact any professional dealing with RBI matters.

Also wait for other opinions!!!

Thanks