a. Understanding
Pledge is a bailment of personal property as a security for some debt or engagement.
Whenever the company avails any loan facility then as per the term of the sanction, a security for the same is needed so the investment of the company is pledged for the same.
b. Initiation
a. Mr. Bikash Dokania (HOD Accounts) , as per his discretion chooses the investment to be pledged for the particular loan, after which he notifies the advisory managing the particular investment for discussion regarding the same.
b. The pledging for investment in the company is mostly for WCDL. The following documents are required to initiate the process of Pledge
(i) A request Letter from the unit holder and banker are required along with the ASL copy
(ii) Board Resolution Copy of the banker for lien marking.
(iii) Account Statement of the Investments Pledged
c. Finalization
a. After finalizing the investments to be pledged the advisory sends a list of documentation needed to complete the process of pledging marking cc to Mr. Vinod Agarwal (CFO) & Partha along with Mr. Bikash Dokania
b. After pledging is finalized, Partha then send the required documentation for completing the process of investment. Once the investments have been pledged , it is reflected in the account statement of the investment.
d. Unpledging
a. Once the investment to be pledged is decided, the form of pledging the investment is sent to stockholding co-operation to keep a track & once all the payment for WCDL is cleared the company fills the form to unpledged the investments and send it to stockholding , where in a declaration from stockholding of releasing the investment is received which is then again sent to the fund house by the advisory.