Clause 2.6.2 of the Share Pledge
Agreement, in furtherance of pledged invocation the
Corporate Debtor transferred 3912402331 shares owned
by IPC L, in the Demat ... effecting sale, Regulation 58 provides for notice
post invocation and on which invocation beneficial
ownership of pledged shares changes from that of the
pledgor
pledge shares are simply
marked as "pledged" by the Depository
Participant („DP‟), which prevents the
borrower from transferring the pledged shares.
The shares ... referable to pledge or lien, where shares are
encumbered with a view to secure indebtedness. When a pledge is
created, the pledged shares continue
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
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
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
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
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
