Management (Borrowing and Lending in Foreign Exchange) Regulations, 2000 may pledge the shares of the borrowing company or that of its associate resident companies ... maturity of the underlying external commercial borrowing; (ii) in case of invocation of pledge, transfer shall be in accordance with these Regulations and directions issued
certificate from the Income-tax authority has been produced. [12. Pledge of shares of company incorporated in India - (i) Any person being a promoter ... India (borrowing company), which has raised external commercial borrowing, may pledge the shares of the borrowing company or that of its associate resident companies
behalf of the JV/WOS. Explanation : In cases where invocation of the performance guarantees breach the ceiling for the financial exposure of 100 per cent ... Reserve Bank before remitting funds from India, on account of such invocation. (g) Hundred per cent of the value of the bank guarantee issued
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