Every transfer or sale is not ‘actual sale’: clarifies Supreme Court
Read the article ‘Every transfer or sale is not ‘actual sale’: clarifies Supreme Court’ authored by our Partner, Ravi Charan Pentapati published on Mondaq.
“This judgement will have positive impact on creditors and financial markets and is also likely to end and discourage frivolous legal proceedings by pledgor(s). The Supreme Court clarified that registration of the pawn as a beneficial owner does not have the effect of sale of shares by the pawnee while reiterating that such pledges continue to be governed by relevant provisions of the Indian Contract Act, 1872; Depositories Act, 1996 and DP Regulations.”
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