1. By this notice of motion the plaintiff seeks a declaration that the pledge of shares dated 21st August, 2012 pursuant to the “Modification of Loan Agreement” dated 21st August, 2012 and 11th July, 2012 is void, illegal and contrary to securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009. The Plaintiff also seeks injunction against the defendant from selling, disposing alienating, transferring the pledged shares of the plaintiff pursuant to notice dated 9th September, 2014 and without giving reasonable notice to the plaintiff. The plaintiff has prayed for similar reliefs in the plaint also. Some of the relevant facts for the purpose of deciding this notice of motion are as under :

2. The plaintiff is a director cum promoter of Dr. Datson Labs Limited. Vide loan agreement dated 19th August, 2011 one M/s. Arch Pharmalabs Limited availed of loan of Rs.20 Crores by way of inter corporate deposit from the defendant. By loan agreement dated 28th March, 2012 defendant provided further loan of Rs. 30 Crores to M/s. Arch Pharmalab Limited by way of intercorporate deposit. The loan granted by the defendant to the said company