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
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
shareholding of
PFC and its supporters ?
3) Whether the invocation of the shares pledged by
the respondent no.8 is valid or not?
4) Whether ... transfer of pledged
shares in its name. Petitioner was entitled to register shares in its name
and the transfer of shares was procedural aspect
pledged its shares with
Aapico has challenged the invocation of shares before the
High Court UK and the High Court has found prima facie
case ... loan by the ABT-UK, shares in SGAH,
the Aapico invoked the share charge and appropriated 50.01% shares of ABT-
UK in August, 2019. Thus
pledged its shares with
Aapico has challenged the invocation of shares before the
High Court UK and the High Court has found prima facie
case ... loan by the ABT-UK, shares in SGAH,
the Aapico invoked the share charge and appropriated 50.01% shares of ABT-
UK in August, 2019. Thus
Pledged Shares on
17.06.2019 and perfected its title to the Pledged Shares by registering itself
as beneficial owner in respect of the Pledged Shares ... reduction was affected by Resolution Professional on the ground of
invocation of Shares of the Corporate Debtor Pledged to the Appellant as
noticed above
Share Pledge Agreement and on 31st August, 2017, the
Debenture Trustee invoked the pledge of the shares in its favour
in terms of the Share ... deemed to have been repaid in view of invocation of pledge shares and the
conversion of 'CCDs' into equity shares.
20. The questions
Adjudicating Authority has failed to
appreciate the fact that the invocation of pledged shares could not have
taken place before the default. Repayment clause ... consequences of invocation the same reads as under:
"3.2.1. Irrespective of anything contained in this
Agreement, on invocation of pledge, the shares comprised
