https://www.taxtmi.com/caselaws?id=459957 Share pledge and debenture trust arrangements provided that the pledgor's voting rights in pledged shares continued only until an event of default, after which the debenture trustee could exercise those rights. Once default had occurred and the pledge invocation had not been recalled, the pledgor could not regain voting rights merely because the debt was later restructured and the trust deed amended. The restructuring did not extinguish accrued contractual rights of the trustee, especially where the amendment preserved those rights and did not undo the earlier invocation. The pledgor had also not redeemed the pledged property by tendering the amount due. The trustee therefore remained entitled to vote the pledged shares. en-us Mon, 06 Feb 2023 00:00:00 +0530 Mon, 06 Jan 2025 11:02:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=459957 Share pledge and debenture trust arrangements provided that the pledgor's voting rights in pledged shares continued only until an event of default, after which the debenture trustee could exercise those rights. Once default had occurred and the pledge invocation had not been recalled, the pledgor could not regain voting rights merely because the debt was later restructured and the trust deed amended. The restructuring did not extinguish accrued contractual rights of the trustee, especially where the amendment preserved those rights and did not undo the earlier invocation. The pledgor had also not redeemed the pledged property by tendering the amount due. The trustee therefore remained entitled to vote the pledged shares. Case-Laws Indian Laws Mon, 06 Feb 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=459957