Pledge of MF units - simple query

Hi all, I have plan to pledge the MF units for collateral. My question is

Example i have 1000 MF units of 100 each (NAV), with a haircut of 10% I will have collateral of 90,000/-.

When I am cancelling my pledge of all the units, if NAV is increased to 110, will I get the latest NAV or will that be older one. (My understanding is pledge is based on units, so if I pledge 1000 units and cancelling pledge later, I will get 1000 units back and latest NAV is applicable).
Vice versa, if NAV is getting declined, how the broker will match up with sanctioned collateral.

Pledge is only a collateral or security for any lender that in case you default in repaying, the lender has the right to sell the collateral i.e in your case the mutual fund units and recover the dues.

Hence when you cancel your pledge, you will get back the entire units of 1,000. Once the pledge is cancelled you can sell the MF at the then NAV.

The broker will ask you for additional cash margin or provide additional collateral in case of decline in NAV, so that the lender/broker has adequate cushion/margin for their lending. In case you do not provide the additional cash margin or security, and once a predetermined threshold limit is crossed on the downturn, the lender will sell your security and square off the position after giving due notice.

When you unpledge, you will get back all the units pledged. In the above scenario, 1000. After that if you wish to, you can redeem the units at whatever the NAV at the time.

The collateral margin you receive will vary based on price of the security pledged. If the NAV increases, the margin will increase, similarly if the NAV declines, the margin you have will reduce.

You can check out this post which explains more on pledging: