https://www.taxtmi.com/caselaws?id=96875 A valid pledge of shares may be created by delivery of the share certificate alone, because pledge under Indian law depends on bailment and delivery as security for a debt. Shares are movable property and can be treated as goods for this purpose, with the certificate serving as the medium of representation. An accompanying instrument of transfer is not required for a pledge; insisting on one would go beyond the nature of pledge itself. If enforcement is needed, the pledgee may sue on the debt and seek sale through court. en-us Thu, 02 Apr 1942 00:00:00 +0630 Wed, 11 Jan 2012 17:29:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=96875 A valid pledge of shares may be created by delivery of the share certificate alone, because pledge under Indian law depends on bailment and delivery as security for a debt. Shares are movable property and can be treated as goods for this purpose, with the certificate serving as the medium of representation. An accompanying instrument of transfer is not required for a pledge; insisting on one would go beyond the nature of pledge itself. If enforcement is needed, the pledgee may sue on the debt and seek sale through court. Case-Laws Companies Law Thu, 02 Apr 1942 00:00:00 +0630 https://www.taxtmi.com/caselaws?id=96875