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2020 Supreme(Del) 586

V.KAMESWAR RAO
Khoobsurat Infra Pvt. Ltd. – Appellant
Versus
IDBI Trusteeship Services Ltd – Respondent


Advocates Appeared:
Harish Salve, Advocate, Parag Tripathi, Advocate, Vijay Aggarwal, Advocate, Tarun Singla, Advocate, Naman Joshi, Advocate, Shailesh Pandey, Advocate, Neeraj Kishan Kaul, Advocate, Birendra Saraf, Advocate, Vikram Trivedi, Advocate, Jai Sanklecha, Advocate, Sunil Tilok Chandani, Advocate, Sachin Chandarana, Advocate, Ramchandra Madan, Advocate, Deepak Joshi, Advocate, Jagdeep Sharma, Advocate

JUDGMENT

V. Kameswar Rao, J. - The challenge in these petitions is to a Pledge Invocation Notice (''Pledge Invocation Notice'' for short) dated June 12, 2020 issued to the petitioners herein and additionally Corporate Guarantee Notice (''Corporate Guarantee Notice'' for short) dated June 12, 2020 issued to the petitioners in OMP (I) COMM 136/2020 and in OMP (I) COMM 137/2020.

    2. The facts and the issue which falls for consideration in all these three petitions being similar, they are being disposed by this common order.

      3. The Prayers made in the petition are the following:

        "In view of the facts and circumstances as stated above, it is most respectfully prayed that this Hon''ble Court may be pleased to:

          A. Restrain the Respondent No.1 from acting on the Pledge Invocation Notice against the Petitioner, including from invoking the pledge and / or selling the pledged shares in open market, during the pendency of the present Petition and / or conclusion of arbitration proceedings.

            B. Order costs of the present proceedings in favour of the petitioner.

              C. Pass any such or further orders as may be deemed fit by this Hon''ble Court in the facts and circumstances of the present case."

              4. Omp

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