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Pledging

What should I do if I want to pledge electronic securities?

The procedure is as follows:

All financial transactions between the pledgor and the pledgee are handled as per usual practice outside the depository system

How can I close the pledge after repayment of my loan?

After you have repaid your loan, you can request for a closureof pledge by instructing your DP in a prescribed format. The pledgee on receiving the repayment will instruct its DP accordingly for the closure of the pledge.

Whether pledgee account can be in a different DP?

Yes. The pledgee can have an account with a different DP ofNSDL.

Can I change the securities offered in a pledge?

Yes; if the pledgee (lender) agrees, you may change the securities offered in a pledge.

Who will receive dividend on the pledged securities?

Pledgor will continue to receive dividend on the pledged securities. The pledgee will get the benefits only if a pledge is invoked and on record date the shares are in the pledgee’s account.

How will the distribution of bonus shares for pledged shares happen?

The software in NSDL has been modified to handle distribution of bonus entitlements through Automatic Corporate Action (ACA) Module. This works as follows:

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