Transfer of pledge shares - right of pledgee - whether Catalyst ...

Court to Decide if Catalyst Can Hold Pledged Shares Under Contract Act Sections 176 and 177 for Safekeeping.

June 28, 2022

Case Laws Companies Law HC

Transfer of pledge shares - right of pledgee - whether Catalyst can transfer these shares to its name but only for the limited purpose of holding them safely until they are redeemed, sold (after notice to World Crest) or for the purposes of Catalyst’s recovery suit? - Sections 176 and 177 of the Contract Act - We are asked to hold, prima facie, that World Crest is not bound by the terms of the bargain it struck. That is merely asking for the impossible. Catalyst cannot be compelled to sell. World Crest will not redeem. In the meantime Catalyst can do nothing. This, we are asked to believe, is an equitable approach that the learned Single Judge should have been mindful of at World Crest’s instance. - HC

View Source

← Previous Next →

Transfer of pledge shares - right of pledgee - whether Catalyst ...

Court to Decide if Catalyst Can Hold Pledged Shares Under Contract Act Sections 176 and 177 for Safekeeping.

June 28, 2022

Case Laws Companies Law HC

You may also like:

Taxation of excess share premium received u/s 56(2)(viib) - basis of valuation - preference share versus equity shares - First it is to be decided that, which clause of...

Pledge of shares - Pawnor and the pawnee’s right to sue for recovery and sell the pawned goods - As to be held that registration of the pawn, that is the dematerialised...

The Court considered the winding up of a company, seeking release of lands and claiming rights in the land taken over by the Official Liquidator (OL). The Court...

Validity of declaring of the respondent as a Secured Creditor - retention of shares held as security - The primary grievance of the petitioner was that the National...

Maintainability of Criminal proceedings - illegal allotment of shares - illegal appointment of petitioner as a director and transfer of shares - The court highlighted...

Valuation of gifted shares - Explanation to Rule 2(9) of Part A, Schedule III of the W.T. Act. The certificate from the concerned stock exchange is only to state whether...

Income from discontinued business - income of interest received on advances - in view of the provision of Sec. 176(3A) it is clear that the interest income on advances...

Deduction on the payments of interest to partners u/s 40(b) - when income was taxed u/s 176 (3A) - as per Section 176(3A) income received subsequent to the...

Outstanding demand u/s 177(3) - beneficiaries who are named in the trust as recipients of the income of the trust cannot be considered as an association of persons. - If...

Addition u/s 68 - unexplained share application money - It is not a case that the assessee had filed merely a confirmatory letters of share applicants but it is a case...

Correct head of income - treatment of income from sale and purchase of shares - business income or income from capital gains - high volume of transactions and frequently...

Assessee company successfully proved genuineness of share capital and share premium received from various private limited companies. Creditworthiness and identity of...

Conversion of partly up equity shares into fully paid-up equity shares - the board of directors are well within the powers to make a call on the shareholders in respect...

The SC held that the reduction in share capital of the subsidiary company and subsequent proportionate reduction in the shareholding of the assessee would be covered...

Addition u/s 68 - share capital and share premium - any addition which deserved to be made should have been made in the hands of the share applicants who have shown...

Quick Updates: