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
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
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
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
further observed, inter alia, that all documents relating to the
invocation of the pledged shares shall be placed before the Single
Judge. The Division Bench ... fair valuation of shares and ensure
transparency with respect to invocation of the pledged shares of
Shipra Group companies. However, the mala fide conduct
shares i.e the Pledge created by the
Appellant over the pledged shares under the SPA and the pledge created
over the NOVA pledged shares ... invocation' as
required under the terms of the Transaction Documents. This notice
constitutes a notice for invocation of collateral pledged shares for the
purpose
under the SPA over his shares as
also the pledge subsequently created over the shares of Nova. These pledged
shares were thereafter transferred to Demat ... accounts of the defendant no.1.
9. The aforesaid invocation of the shares was brought to the knowledge
of the plaintiff by a representation addressed
shares i.e. 30% promoters' shares in the
defendant no.2 company and hence, the aforesaid shares were
CS(COMM) 667/2022 Signature
Page ... shares was made clear
to the plaintiff when the pledged shares were invoked by the defendant
bank on 6th September, 2022. The intimation of invocation
Pledged
Shares (the entire paid-up and equity shares of Kadam) as well as by
mortgage of the Property. The invocation of pledge in respect ... Pledged Shares and the invocation of security interests in the Property
are not mutually exclusive. Thus, the question whether sale of the
Pledged Shares
stated on behalf of Indiabulls that "the invocation of pledge of shares will
be undertaken in a completely transparent manner, on a fair evaluation ... also clear that in such an event,
the Pledged Shares (shares of Kadam) do not become valueless, as their
value would depend on the realizable
