treated to have acquired shares and is required to make disclosures.
Where the shares are acquired on invocation of pledge, question of
introducing deemed fiction ... context
of deemed acquisition of shares on creation of pledge and not actual
acquisition of shares on invocation of pledge. Secondly, if the contention
appropriate the shares or become owners of the shares upon invocation.
Therefore, in the light of clause 6.1 of Share Pledge Agreement
Regulations ... sale, Regulation 58 provides for notice
post invocation and on which invocation beneficial
ownership of pledged shares changes from that of the
pledgor to that
lose right or title in the shares; this is
evident from the shares at the time of first invocation though having
been transferred from ... sale, Regulation 58
provides for notice post invocation and on which invocation beneficial
ownership of pledged shares changes from that of the pledgor to that
Appellant stated that the said
judicial orders held that invocation of shares and partial conversion of
subordinate debt into equity by the Respondent were illegal ... acquire equity due to operation of law
subsequent to invocation of pledged shares and partial conversion of debt into
shares. The Respondent No. 2 submitted
Appellant stated that the said
judicial orders held that invocation of shares and partial conversion of
subordinate debt into equity by the Respondent were illegal ... acquire equity due to operation of law
subsequent to invocation of pledged shares and partial conversion of debt into
shares. The Respondent No. 2 submitted
Appellant stated that the said
judicial orders held that invocation of shares and partial conversion of
subordinate debt into equity by the Respondent were illegal ... acquire equity due to operation of law
subsequent to invocation of pledged shares and partial conversion of debt into
shares. The Respondent No. 2 submitted
transfer of the pledged shares of CGP, in the name of the
Debenture Trustee, with the understanding that the shares would be
released in favour ... SEBI (Substantial Acquisition of Shares and
Takeovers) Regulations, 2011 (hereinafter referred to as ―the 2011
SEBI Regulations‖), regarding invocation, to the effect that the
Respondent
assesses was engaged in the
business of share & stock broking, investment and trading in shares and
securities. The assessee company filed its return ... crores by way of
repayment, share invocation and dividend.
12. The contention of the assessee is that the above said amount
worthy of
granting leave. As regards the defence based on invocation of pledged
shares, the learned Senior Counsel would counter by canvassing a
submission that ... Notice of Invocation of
pledge, to bolster up the submission that, post the invocation of the pledged
shares, the Plaintiff has declared its animus that
Consequence of Invocation:
3.2.1 Irrespective of anything contained in this Agreement, on
invocation of pledge, the shares comprised in the Collateral will
not become ... sale,
Regulation 58 provides for notice post invocation and on which
invocation beneficial ownership of pledged shares changes from that
of the pledgor to that
