Lockin of Pledged shares under SEBI (ICDR)
jayesh ahire
(Querist) 14 December 2010
This query is : Open
A Company proposes to shares on preferential basis pursuant to chapter VII of SEBI ICDR Regulations. As per the Regulations the holdings of allottees as on the relevant date should be locked-in for six months. However, One of the allottee to the issue has pledged his shares.
thus the query is:
1. Can pledged shares be locked-in under SEBI (ICDR) Regulations? If Yes Wht is the Procedure?
2. If not possible wht are the other options available to the Company and the allottee?
3. Can you cite any relevant cases in this matter?
