Dear folks
Can a Non resident promoter who have taken specific permission form RBI to pledge the shares of an Indian Company for availing loan from an indian company do the pledging of shares for multiple times with other lenders for the same limit
Thanks & reagrds,
Abhinay
Hi
If you pledge shares with one company for availing loan you can not pledge the same with another company since you have to submit CA certificate for non-enmbrances on pledge shares.You have to submit that the same share is not pledge with another company or financial institutuion.
Saini Pati Shah & Co LLP, Chartered Accountants
Mumbai
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