Creation of charge on immovable / movable property and other financial assets

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..... e charge (by way of mortgage, pledge, hypothecation or otherwise) on its assets [including the assets of its group company, sister concern or associate company in India, promoter and / or director] in favour of an overseas lender as security for availing of the fund based and/or non-fund based facility for its Joint Venture (JV) or Wholly Owned Subsidiary (WOS) or Step Down Subsidiary (SDS) outsid .....

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..... ty for availing of the fund based and/or non-fund based facility for itself or its JV or WOS or SDS outside India. Provided that (a) The value of the facility is reckoned as financial commitment for the Indian party and the total financial commitment of the Indian party remains within the limit stipulated by the Reserve Bank from time to time for overseas direct investments in the JV / WOS; (b) Th .....

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..... reation of charge on immovable / movable property and other financial assets An Indian Party, with prior approval of the Reserve Bank, may transfer, by way of mortgage / pledge / hypothecation, the immovable / movable property and other financial assets (except shares of JV / WOS) of the Indian party and its group companies as a security for availing of fund based and/or non-fund based facilities .....

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