October 2023 offered to pay the entire
outstanding amount.
2.18 Invocation of pledge was illegal and in breach of the terms of
9/63
::: Uploaded ... Share Pledge Agreement and
Pledge Power of Attorney executed in favour of Vistra (D3). There
is no infirmity in either invocation of the pledge
October 2023 offered to pay the entire
outstanding amount.
2.18 Invocation of pledge was illegal and in breach of the terms of
9/63
::: Uploaded ... Share Pledge Agreement and
Pledge Power of Attorney executed in favour of Vistra (D3). There
is no infirmity in either invocation of the pledge
advocate's notice asserting existence of valid pledge. On
20 September 2021, Pledge Invocation Forms were issued by
Defendant No.1-Bank instructing ... duration of pledge and if indeed
pledge had come to an end on 31 March 2011 why and how the
pledge invocation form could
advocate's notice asserting existence of valid pledge. On
20 September 2021, Pledge Invocation Forms were issued by
Defendant No.1-Bank instructing ... duration of pledge and if indeed
pledge had come to an end on 31 March 2011 why and how the
pledge invocation form could
present petition was filed on 08.01.2020 i.e., before the impugned
invocation of pledge by Mr. Ashok Goyal dated 27.01.2020.
32. Thus, it becomes evident ... initial pleadings of the
petitioner make no mention of the invocation of pledge dated
27.01.2020 which the learned counsel for the petitioner has harped
Code of Civil Procedure , seeking injunction of the
invocation of pledge.
2. Heard Sri. C.K.Nandakumar, learned Senior Counsel
appearing for the petitioners ... order on I.A.Nos.1 and 2 to stay the invocation of
pledge and all consequent actions on the score that the
Court
that there is a need to prevent further action on the pledge - its
invocation or the appropriation of the Shares pending arbitration.
Option vs. Obligation ... inexplicable pledge in favour of Baxi. No further action shall be
taken on the Shares so pledged whether by way of invocation of the pledge
were pledged in favour of Financial Creditor. On
19.09.2022, a Share Pledge Agreement was entered into
pursuant to MoU. On 29.11.2022, a pledge invocation notice ... sole discretion of
Financial Creditor to invoke the shares and pledge invocation was noticed
on 29.11.2022 and thereafter shares were realized and the amount, which
defaulted on its loan obligations and accordingly
HDFC invoked the pledge and sold the pledged securities. Respondent No.1
filed Appeal ... shares by
BRH. SEBI issued notices to HDFC Bank alleging illegal invocation of
pledge of securities. By order dated 21 January 2021, Whole Time Member
defaulted on its loan obligations and accordingly
HDFC invoked the pledge and sold the pledged securities. Respondent No.1
filed Appeal ... shares by
BRH. SEBI issued notices to HDFC Bank alleging illegal invocation of
pledge of securities. By order dated 21 January 2021, Whole Time Member
