mortgage of the Property. The invocation of pledge in respect of the
Pledged Shares and the invocation of security interests in the Property ... that
it had invoked the pledge of the Pledged Shares in terms of the Sale
Notice. The invocation of pledge cannot be made on multiple
Petitioner and its supporters is based on illegal invocation of the pledged
shares. They claimed that the shareholding of the Petitioner is zero. The
Petitioner ... findings arrived by this Tribunal
(1) There is no valid invocation of pledge of shares and
transfer of shares do not take place
asked the corporate
guarantor to make payment within two business days. Pledge
invocation dated 12th June, 2020 was challenged in Hon'ble High
Court ... thereby invoking the
pledged shares under the
Share Pledge Agreement to
recover the amounts due
and payable by Essel.
iv. Invocation of Corporate
Guarantee Notice
Regulations, the Pledgee may invoke the pledge subject to the provisions of the pledge document. Thus, the invocation of the pledge would have ... borrower, the Bank may invoke the pledge. Subject to the provisions of pledged document and on such invocation, the depository will register the name
Subject to the provisions of the pledged document, the pledgee may invoke the pledge and on such invocation, the depository shall register the pledgee ... borrower, the Bank may invoke the pledge. Subject to the provisions of pledged document and on such invocation, the depository will register the name
default is deemed to have been repaid in view of the invocation of pledge of
shares and conversion of 'Compulsorily Convertible Debentures ... Pledge Agreement and on 31st August, 2017, the
Debenture Trustee invoked the pledge of the shares in its favour
in terms of the Share Pledge
SICOM had not intimated
to the Appellant no.6 about the invocation of pledge and in the absence of any
prior intimation the Appellant ... above contentions.
7. It is not in dispute that on invocation of pledge, the pledged shares have
been transferred from the demat account of Appellant
argued that only in respect of one
transaction i.e. invocation of pledge on February 15, 2012 relating to 34,528
shares there ... actually do not give the complete details. It does not disclose invocation of
pledge of large quantities of shares. Furthermore, the dates are not matching
contention, it was
stated on behalf of Indiabulls that "the invocation of pledge of shares will
be undertaken in a completely transparent manner ... between the parties was
pending before the learned Single Judge, the invocation of pledge would
"obviously be open to challenge before the Court
time of sale and not at the time of invocation of
pledge. Thus, when the defendant has sold 5,00,426 shares
in the market ... stipulation in agreement giving absolute right to sell
after the invocation of pledge is contrary to the law and thus
prima facie illegal and cannot
