Charge on companies share

life is ok (Querist) 01 March 2013 This query is : Resolved
Can paripassu charge on promoters shares of the borrower company be created in favour of 3 banks in consortium financing. banks will hold the shares as pledge.

As per Banking regulation act banks cannot hold shares more than 30% paid up value of any company.

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R.K Nanda (Expert) 02 March 2013
state detailed facts .

Raj Kumar Makkad (Expert) 04 March 2013
Better to raise your query at Caclubindia.com

devdatta Jadhav (Expert) 11 March 2013
pledge of share is additional ecurity created to pay the debt . pledgor is not the owner of shares held by them.
3 banks can pledge the shares of promoters of borrowed company. no question of holding limit arises.

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