14 March 2023
A shareholder, Mr.A holding 99.8% of shares in an Unlisted Public Company (Say, M/s.ABC Ltd) wishes to Pledge his shares. Whereas the Unlisted Public Company is a member holding 9.03% in a Listed Company (Say, M/s.XYZ Ltd). Mr.A is a promoter of both the said Unlisted M/s.ABC Ltd and M/s.XYZ Ltd. Is there any compliances needs to be carried out in the said companies for pledging of Mr.A's shares in Unlisted Company. Kindly share your views.
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