Shares held by non-residents can be pledged to NBFC


The Reserve Bank of India, through a circular dated 6 June, has relaxed provisions relating to the pledge of equity shares (listed on a recognized stock exchange in India) held by non-resident shareholders in Indian listed companies.

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The business law digest is compiled by Nishith Desai Associates (NDA). NDA is a research-based international law firm with offices in Mumbai, New Delhi, Bangalore, Singapore, Silicon Valley and Munich. It specializes in strategic legal, regulatory and tax advice coupled with industry expertise in an integrated manner.