petitioner avers that the notice dated July 17, 2021 is
a combined notice of invocation and sale. The notice under Section ... notices
were also issued upon the petitioner herein with regard to the Notice of
Invocation and Sale of the pledged equity shares
agreed consideration
for sale of the Pledged Shares. In terms of the impugned
notice, the Pledged Shares have been sold at ₹900 crores ... Signing Date:06.12.2022
09:54:56
pledge of the Pledged Shares in terms of the Sale Notice.
The invocation of pledge cannot be made
M/S Daiichi Sankyo Company Limited vs Oscar Investments Limited on 22 September, 2022
Author
securities in the form of the UPPL OCCDs
and the Kindle Pledge. The notices intimated the petitioner that, if the
RSL Land Failure Event ... Share
Pledge Agreement dated 19 March 2018 and notice of invocation
of Security under the pledge agreement
Dear Sir,
1. This notice (Notice
Bank from selling the pledged
30% of promoters' shares which have been Pledged vide Share
Pledge Agreement Dated 07.07.2021 in the open market ... pledgee is entitled to
invoke the pledge in terms of the provisions of the pledge document.
Further, upon invocation, the depository would register the pledgee
assignee has issued a notice dated 8th March 2022 to
the Applicant/Plaintiff No. 1 for invocation of pledged shares
of the Applicant/Plaintiff ... from acting in pursuance of the notice dated 8th March
2022 for invocation of shares pledged by the Applicant /
Plaintiff No. 1 is concerned
Stay the effect and operation of the invocation Notice dated
17.05.2022 pertaining to the Pledge Agreement dated
26.06.2014.
ii. Pass an Order directing the Defendants
invoked the Pledge under the SPA and the defendant No.1
transferred the pledged shares to itself.
13. It is pointed out that under ... effect to, before the defendant No.1 appropriated the pledged shares. The
Notice for Invocation (Document No. 24 of the Plaintiff's Documents
crores. These shares were pledged with the respondent bank to secure
their loan from the bank.
By a notice dated 23rd February, 2022 the appellant ... question which arises in this appeal is whether the notices of
invocation of the pledge dated 23rd February, 2022 can be construed as reasonable
notice
bank has issued two further notices dated 23rd February, 2022
with regard to invocation and sale of the pledged equity shares.
2
Leave is sought ... respondent.
The supplementary affidavit indicates that subsequent to issue of two
notices dated 23rd February, 2022, the pledged equity shares have been
transferred
