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Bombay High Court Dismisses Promoter's Challenge to Pledge of Shares During Lock-In Period — Pledge Held Valid as Lock-In Restricts Transfer of Title, Not Interest. Court Rules That Pledge Under Section 172 of Contract Act Does Not Violate SEBI ICDR Regulations, 2009.

The plaintiff, Kannan Vishwanath, a promoter and managing director of Dr. Datson Labs Limited, filed a suit and notice of motion seeking a declaration...