https://www.taxtmi.com/caselaws?id=101469 A civil suit to restrain a company's proposed issue of shares and debentures was not maintainable where the plaintiffs were strangers to the prospectus and had not been deceived or personally affected. The court held that deceit-based relief requires the misrepresentation to be acted upon by the representee, and that statutory remedies for misstatement in a prospectus under the Companies Act are confined to persons within the protected class. Order I, Rule 8 CPC is only an enabling procedure and cannot create a cause of action. A general apprehension that future investors may be misled was insufficient to found an injunction or declaration. en-us Thu, 29 Jan 1987 00:00:00 +0530 Thu, 09 Feb 2012 18:07:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=101469 A civil suit to restrain a company's proposed issue of shares and debentures was not maintainable where the plaintiffs were strangers to the prospectus and had not been deceived or personally affected. The court held that deceit-based relief requires the misrepresentation to be acted upon by the representee, and that statutory remedies for misstatement in a prospectus under the Companies Act are confined to persons within the protected class. Order I, Rule 8 CPC is only an enabling procedure and cannot create a cause of action. A general apprehension that future investors may be misled was insufficient to found an injunction or declaration. Case-Laws Companies Law Thu, 29 Jan 1987 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=101469