since the accused failed to make payment of
the margin money even after margin call, in time his shares were
squared off in accordance with ... settlement of 8-10 days to
pay margin money. He submitted that no record of any margin calls
was produced before the learned Trial Court
that the trades
were executed with the consent of the petitioner.
Margin Calls:
26. The petitioner argued that the respondent No. 1 unilaterally liquidated ... squared off the positions of the petitioner without any prior margin calls,
notifications or written consent. The claim of respondent No. 1 of having
informed
claimed. So understood, it
is apparent that the so-called margin money was half the price
of the moulds and the remainder half was agreed ... there was thus no question of
adjusting the margin money towards lease rentals.
32. Pot calling a kettle black! The appellants retained
the moulds
payments as per the said demand
notice. It is also stated, margin call notices were issued by
CS(COMM) 528/2019 Page
which reads as under:-
―5. That the details of the so called marginalized petitioners registered
with Anganwadis is being given in a tabular form
exception was made in case of candidates who could be called marginal. They were persons who could have been appointed as Chargemen Grade
other
person.
iv. Failure to maintain or provide Margin, when
called upon by the Lender
v. An Event of default, as specified in Article ... event, the Petitioners fail to maintain or provide margin
cover, when called upon, loan shall be repayable, in full, forthwith. Loan
is also repayable unconditionally
agreement; (b)any other person
iv. Failure to maintain or provide margin when called
upon the lender.
v. An event of occurrence of default ... SHAZAAD ZAKIR
Signing Date:28.02.2025
14:31:50
always met margin calls, and at no point did the margin fall below 85% (that
being
Agreements between the parties,
the petitioner was required to maintain a margin at the rate of 50%;
that is, 200% of the asset coverage ... level on 17.11.2015.
Consequentially, Margin Call Notices were issued by the respondent
calling upon the petitioner to pay the margin money. The respondent
also
M/S Lakshmi Energy & Food Ltd vs Reserve Bank Of India & Ors on
