Depositories Act, 1996 – As per the 1996 Regulations, the pledgor/pawnor is not entitled to sell the pledged/pawned securities – the pawnor under the Contract Act and the common law has the right to redeem the pledged goods till ‘actual sale’ – Sale by the pawnee to self does not defeat the right of redemption of the pawnor – It may amount to conversion in law

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