Notice
dated 03.02.2022, invoking the pledged shares i.e the Pledge created by the
Appellant over the pledged shares under the SPA and the pledge ... notice for invocation' as
required under the terms of the Transaction Documents. This notice
constitutes a notice for invocation of collateral pledged shares
Respondent No. 2 further clarified that on 19.05.2016, a
notice for Invocation of Pledge was issued to the Respondent No. 1 and its
Promoter/pledgor ... Rules framed thereunder for effecting transfer of shares,
requirement of notice for invocation of pledge etc. under the Contract Act , were
not made and accordingly
Respondent No. 2 further clarified that on 19.05.2016, a
notice for Invocation of Pledge was issued to the Respondent No. 1 and its
Promoter/pledgor ... Rules framed thereunder for effecting transfer of shares,
requirement of notice for invocation of pledge etc. under the Contract Act , were
not made and accordingly
Respondent No. 2 further clarified that on 19.05.2016, a
notice for Invocation of Pledge was issued to the Respondent No. 1 and its
Promoter/pledgor ... Rules framed thereunder for effecting transfer of shares,
requirement of notice for invocation of pledge etc. under the Contract Act , were
not made and accordingly
submitted that DLF and
Chinsha despite having received the notice of invocation of pledge dated
05.08.2023, did not come forward to redeem the pledged shares
shares was suspended. Indiabulls, however, stated before the Appellate Court that invocation of pledge of shares will be undertaken in a completely transparent manner ... Court noted this stand of the Indiabulls and observed that any invocation of pledge would be open to challenge before the Court.
19. During
acting upon the
invocation notice dated 28.09.2024 and from taking any further
action regarding transfer or encumbrance of the pledged shares
of Mantri Infrastructure ... defendant Nos.1 to 3 from enforcing or acting upon
invocation notice dated 28.09.2024. The respondents also filed
applications and order is passed only
Pavuluri, learned counsel for the petitioner that
the invocation of the Share Pledge Agreement is unwarranted and the act
of transferring the shares are contrary ... usurp the
shares of the petitioners. The notice dated 31.03.2023 and 11.05.2023 for
invocation of pledge agreements showing an amount
suggestions for settlement of the document, however, the Yes Bank issued a
notice dated 27th October, 2021 under Section 176 of Indian Contracts ... already informed that they
have issued LRM and has done pledge invocation. The
company has taken stay from high Court on the ground that
pledgers shall pledge
shares equivalent to 200% of the loan amount. It further provided that even
on the invocation of the pledged shares ... Award‟ dated 11.08.2017,
by observing that immediately on the invocation of the pledge by STCI, the
pledger becomes the "beneficial owner" entitled
