The DP shall maintain copies of all Pledge Request Forms (PRF), Unpledge Request Forms (URF) and Invocation Request Forms (IRF) for a minimum period of 8 years or any such period informed by SEBI from time to time.
Pledge is considered as
PLEDGE CREATION - Agreement is signed between the pledgor and the pledgee outside the depository system.
Pledgor gives a pledge request to his DP who enters it in the system. Securities are transferred from 'Free balance' to 'Pledge setup balance' in the pledgor's account. The pledge request is available to the pledgee DP through depository system.
Pledgee DP gives a pledge confirmation request to his DP who enters it on the depository system. Status of the pledge request changes to 'Accepted - Verified'. Balance moves from 'Pledge setup balance' to 'Pledge balance'.
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