The following two pictures illustrate just how complex pledge or guarantee under FEMA can be when there is a cross-border debt or guarantee transaction:


Putting Deals through a Microscope – Traversing Transactions attempts at dissecting a deal by analyzing various aspects and nuances of an M&A Transaction, traversing through a complex mesh of Commercial, Regulatory, and Tax ("CRT") imperatives!
Putting Deals through a Microscope – Traversing Transactions attempts at dissecting a deal by analyzing various aspects and nuances of an M&A Transaction, traversing through a complex mesh of Commercial, Regulatory, and Tax ("CRT") imperatives!