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
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
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
challenge in these petitions is to a Pledge Invocation
Notice ('Pledge Invocation Notice' for short) dated June 12, 2020
issued to the petitioners ... Dish TV shares as on June 23, 2020
was Rs. 9.10/- per share (total value of Dish TV pledged shares
Rs. 56.8 Crores). Thus
senior counsel representing the respondent
relies on the notice of invocation and sale of shares dated 2nd July, 2020 which
mentions certain Pledge Agreements, Subscription ... refrain from selling any further shares
(the balance shares) which form the subject matter of the Notice of Invocation
and Sale of Shares dated
franchisee agreement got
superseded by the Revenue Sharing Agreement and therefore
the invocation of the arbitration clause under the terms of the
Revenue Sharing Agreement ... judis.nic.in
O.P.No.521 of 2016
invocation made under the Revenue Sharing agreement.
(e) The amount claimed even according to the claimant
Also important are the circumstances surrounding the
invocation of the shares pledged on 21.08.2018. A perusal of the
communication exchanged between the parties reveals that ... release of the shares pledged on 21.08.2018, suddenly expressed its
intent to withhold these shares. Evidently, the decision to invoke the
shares pledged
market, the
share price of the pledged shares also fell. In a normal scenario, the price
per share of the remaining pledge shares held ... share; and CCL was in the range of Rs. 28.10 - 18.20/- per
share from 01.01.2020 to 28.02.2020. As on 24.04.2020, remaining
pledged shares were trading
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 ... August, 2020. Thus, it was prayed that
protection against invocation of the Share Pledge Agreements be
granted to the appellants till mid August
SJ30-19INCOMSS779-19+.DOC
Defence based on non-invocation of pledged shares at an
opportunate time:
46. It is the case of the defendants that
