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Can the shares of a JV/WOS abroad be pledged for the purpose of financial assistance?

April 26, 2017abroad financial jv pledged purpose Shares wos

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Can the shares of a JV/WOS abroad be pledged for the purpose of financial assistance?

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A. The shares of a JV/WOS can be pledged as a security for availing fund based or non-fund based facility for the concerned entity or for the JV/WOS from an authorised dealer/ public financial institution in India.