Supreme Court · 2022 INSC 562 · Decided 12 May 2022
PTC India Financial Services Limited v. Venkateswarlu Kari and Another
- Court
- Supreme Court of India
- Citation
- 2022 INSC 562 · [2022] 9 S.C.R. 1063
- Case number
- CIVIL APPEAL No. 5443/2019
- Decided
- 12 May 2022
- Bench
- M.R. SHAH, SANJIV KHANNA (2-judge bench)
- Outcome
- Appeal(s) allowed
- Case type
- Civil
- Acts & sections cited
- Contract Act Section 148, 176, 177, 63
Headnote
Contract Act, 1872 - Depositories Act, 1996 - Securities and Exchange Board of India (Depositories and Participants) Regulations, 1996 - Whether the Depositories Act, 1996 read with the Regulation 58 of the Securities and Exchange Board of India (Depositories 19961 has the legal effect of overwriting the provisions relating to the contracts of pledge under the Indian Contract Act, 1872 and the common law as applicable in India - Held: The Depositories Act prescribes how the dematerialised securities can be pledged - The provisions of
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