https://www.taxtmi.com/caselaws?id=393429 Invocation of a pledge and custodial holding of insurance company shares was not sufficient, at that stage, to justify treating the transaction as a completed transfer in breach of the statutory approval regime. Because no actual transfer to a third party had yet occurred and prior approval would still be required before any final transfer, the broad declaration that the transfer or pledge was null and void ab initio was unsustainable. The tribunal left open whether the statutory term "transfer" includes a pledge, and set aside the impugned nullity observation while preserving regulatory scrutiny over any future transfer. en-us Thu, 27 Feb 2020 00:00:00 +0530 Mon, 16 Mar 2020 07:48:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=393429 Invocation of a pledge and custodial holding of insurance company shares was not sufficient, at that stage, to justify treating the transaction as a completed transfer in breach of the statutory approval regime. Because no actual transfer to a third party had yet occurred and prior approval would still be required before any final transfer, the broad declaration that the transfer or pledge was null and void ab initio was unsustainable. The tribunal left open whether the statutory term "transfer" includes a pledge, and set aside the impugned nullity observation while preserving regulatory scrutiny over any future transfer. Case-Laws SEBI Thu, 27 Feb 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=393429