Lock-in of Securities Issued on Firm Allotment Basis
Securities issued on firm allotment basis would be locked-in for one Year from the date of commencement of commercial production, or
date of allotment in public issue, or whichever is later.
Other Requirements with Respect to Lock-in
The other requirements relating to the lock-in of promoters contribution are listed below.
Pledge of Securities
Locked-in securities held by promoters may be pledged only with banks/ financial institutions as collateral security for loans granted by them, provided the pledge of shares is one of the terms of the section of the loan.