https://www.taxtmi.com/highlights?id=105032 Fresh pledge of specifically identified shares for a refinancing facility constitutes an independent proprietary security interest where earlier lender arrangements terminate upon discharge of its debt. A personal guarantee and a negative covenant create personal obligations only; without identification of the shares or an enforceable charge, they cannot defeat a later valid pledge. An unrecorded oral undertaking does not nullify subsequent facility and pledge arrangements, while breach of a valid undertaking normally gives rise to enforcement or contempt consequences. A guarantor cannot encumber a co-owner's interest in jointly held shares without express consent. Continuing claims over pledged shares lack justification once restored assets substantially satisfy the underlying loan claim. en-us Fri, 16 Oct 2026 05:20:55 +0530 Fri, 16 Oct 2026 05:20:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=105032 Fresh pledge of specifically identified shares for a refinancing facility constitutes an independent proprietary security interest where earlier lender arrangements terminate upon discharge of its debt. A personal guarantee and a negative covenant create personal obligations only; without identification of the shares or an enforceable charge, they cannot defeat a later valid pledge. An unrecorded oral undertaking does not nullify subsequent facility and pledge arrangements, while breach of a valid undertaking normally gives rise to enforcement or contempt consequences. A guarantor cannot encumber a co-owner's interest in jointly held shares without express consent. Continuing claims over pledged shares lack justification once restored assets substantially satisfy the underlying loan claim. Highlights Companies Law Fri, 16 Oct 2026 05:20:55 +0530 https://www.taxtmi.com/highlights?id=105032