The Supreme Court’s judgement on PTC India has extensively examined the concept of pledged shares, rights of pledgers, pledgees, and the consequences of invocation. The ruling may play out even in the DishTV-Yes Bank case. Legal experts say it could take away Yes Bank’s voting rights in DishTV. Will the verdict change equations between lenders and borrowers?
The two-year-old legal battle between DishTV and Yes Bank — over the exercise of voting rights accrued to the lender after invocation of pledged shares — could well be reaching a tipping point. Thanks to a Supreme Court judgement on May 12 in an unrelated case involving PTC India that examined the concept of pledge, the right of pledger and pledgee, and how such rights change — or don’t change — following invocation of pledged shares. According
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