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TMI BlogForeign Exchange Management (Transfer or Issue of Security by a Person Resident Outside India)X X X X Extracts X X X X X X X X Extracts X X X X ..... ECTION) RESERVE BANK OF INDIA (Foreign Exchange Department) (CENTRAL OFFICE) NOTIFICATION Mumbai, the 10th November, 2009 No. FEMA 202/2009-RB G.S.R. 851(E) - In exercise of the powers conferred by clause (b) of sub-section (3) of Section 6 and Section 47 of the Foreign Exchange Management Act, 1999 (42 of 1999), the Reserve Bank of India hereby makes the following amendments in the Foreign ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... a new Regulation 12 shall be inserted and shall be deemed to have been inserted with effect from 11th day of July, 2008, namely: - "12 Pledge of shares of company incorporated in India— (i) Any person being a promoter of a company registered in India (borrowing company), which has raised external commercial borrowing, may pledge the shares of the borrowing company or that of its associate resid ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... at the 'no objection' may be granted by a bank which is an authorised dealer subject to the following conditions. Namely:- (a) the period of such pledge shall be co-terminus with the maturity of the underlying external commercial borrowing: (b) in case of invocation of pledge, transfer shall be in accordance with the extent FDI policy and directions issued Reserve Bank; (c) the Statutory Audito ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... S.R.175(E), dated 13-03-2001 No. G.S.R. 182(E), dated 14-03-2001 No. G.S.R. 4(E), dated 02-01-2002 No. G.S.R. 574(E), dated 19-08-2002 No. G.S.R. 223(E), dated 18-03-2003 No. G.S.R. 225(E), dated 18-03-2003 No. G.S.R. 558(E), dated 22-07-2003 No. G.S.R. 835(E), dated 23-10-2003 No. G.S.R. 899(E), dated 22-11-2003 No. G.S.R. 12(E), dated 07-01-2004 No. G.S.R. 278(E), dated 23-04-2004 No. ..... X X X X Extracts X X X X X X X X Extracts X X X X
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