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 ... that the implementation of Scenario II was
envisaged by way of invocation of pledge in favour of various consortium
lenders, and exercise of the conversion
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 ... that the implementation of Scenario II was
envisaged by way of invocation of pledge in favour of various consortium
lenders, and exercise of the conversion
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 ... that the implementation of Scenario II was
envisaged by way of invocation of pledge in favour of various consortium
lenders, and exercise of the conversion
pledged shares i.e the Pledge created by the
Appellant over the pledged shares under the SPA and the pledge created
over the NOVA pledged ... notice for invocation' as
required under the terms of the Transaction Documents. This notice
constitutes a notice for invocation of collateral pledged shares
further invoked the Deed of Pledge and acquired a
total of 14, 02, 991 equity shares which approximately amounts to 7.21% of
the total equity ... already informed that they
have issued LRM and has done pledge invocation. The
company has taken stay from high Court on the ground that
submitted that DLF and
Chinsha despite having received the notice of invocation of pledge dated
05.08.2023, did not come forward to redeem the pledged shares
shares was suspended. Indiabulls, however, stated before the Appellate Court that invocation of pledge of shares will be undertaken in a completely transparent manner ... Court noted this stand of the Indiabulls and observed that any invocation of pledge would be open to challenge before the Court.
19. During
loan amount. It further provided that even
on the invocation of the pledged shares by the lender, the shares so invoked
shall not become ... Award‟ dated 11.08.2017,
by observing that immediately on the invocation of the pledge by STCI, the
pledger becomes the "beneficial owner" entitled
loan amount. It further provided that even
on the invocation of the pledged shares by the lender, the shares so invoked
shall not become ... Award‟ dated 11.08.2017,
by observing that immediately on the invocation of the pledge by STCI, the
pledger becomes the "beneficial owner" entitled
such terms and conditions as
mentioned in the TRA Agreement;
(vi) Pledge of 73.59% (seventy three
decimal five nine percent) equity
shares of the Borrower ... Security Holders in
the same proportion as existed
prior to invocation of pledge Le.
51% (fifty one percent) of the total
equity share capital
