Letter to Bank for Joint Venture Borrowings & Pledging

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Letter to Bank for Joint Venture borrowings & pledging 

June 12, 2026 

Mr. R.P.Khanna

General Manager

The State Bank of India

Foreign Exchange Department

88 Homi Modi Street

Mumbai – 400001 

Sub:  Joint Venture in Dubai – SBI ID No. LARBZ 12345678         

Ref No. MUBFED/  / 12.05.2026/2025-2026

 

Sir,

 

This refers to your letter No. MUB/   /FED/ 12.05.2026/2025-26 dated 25^th April 2026 on the captioned subject.

 

In this regard, we would like to mention that our Singapore joint venture has raised certain borrowings from Deutsche Bank AG, Dubai and as per the requirement of the lender, Share Certificates have been pledged with them as security for the borrowing.

 

Please also note that appropriate applications for creation of security in favour of the lenders were also moved with the SBI, New Delhi on _______________ .  Therefore, all actions which have been taken by our company are in accordance with the FEMA regulations.

 

 

Thanking you,

 

Yours sincerely, 

 

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