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4. For easy reference the various documents filed as Annexures to the separate appeals are listed below:

(OS)(COMM) DTD Annexure H Annexure G Annexure H 22.05.2015 22.05.2015 22.05.2015 Share Pledge Annexure I Annexure F Annexure I Agreement 22.05.2015 01.02.2019 22.05.2015 Deed of Annexure J - Annexure J Guarantee 22.05.2015 22.05.2015 Pledge Annexure F Annexure F Annexure F Invocation 12.06.2020 12.06.2020 12.06.2020 Notice Corporate Annexure G - Annexure G Guarantee 12.06.2020 12.06.2020 Notice

6. When respondent No.2/EIL being the issuer company failed to redeem the Debentures when they became due on 22nd May, 2020, respondent No.1/IDBI TSL issued notices of invocation dated 12.06.2020 on the Share Pledge Agreement (1) and (2) dated 22nd May, 2015 executed by appellant/Cyquator and appellant/Direct Media, respectively and on the Share Pledge Agreement (3) dated 01st February, 2019 executed by appellant/Khoobsurat, whereby in terms of the DTD it called upon the appellants to pay a sum of Rs.616,09,48,616/-, as the outstanding amount as on 5th June, 2020 alongwith default interest and to pay the said sum within one business day from the receipt of the said notices, failing which it threatened to initiate appropriate action for enforcement of the pledged securities under the various Pledge Agreements. By a separate notice dated 12th June, 2020, it also invoked the Deed of Guarantee dated 22nd May, 2015, executed by appellant/Cyquator and appellant/Direct Media.

7. Immediately thereafter, the appellants approached the court under section 9 of the A&C Act, seeking restraint on the respondent No.1/IDBI TSL from acting on the Pledge Invocation Notices as also on the Corporate Guarantee Notice. The learned Single Judge considered the various submissions made before it by the appellants, summarised in para 73 of the judgment as reproduced below: