https://www.taxtmi.com/caselaws?id=113543 A civil suit seeking to enforce a shareholder's claimed pre-emptive right was held prima facie not maintainable where the grievance, in substance, fell within the statutory scheme for oppression and mismanagement under the Companies Act, 1956, which bars civil court intervention to that extent. The shareholders proposed to sell their shares were necessary parties because effective relief would directly affect their transfer rights, and an injunction could not operate properly in their absence. The articles of association were construed as conferring only a conditional, contingent pre-emptive right, not an absolute one, so declaratory or injunctive relief based on an unqualified pre-emption claim was unsustainable. en-us Wed, 02 Dec 2009 00:00:00 +0530 Fri, 18 Apr 2014 17:53:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=113543 A civil suit seeking to enforce a shareholder's claimed pre-emptive right was held prima facie not maintainable where the grievance, in substance, fell within the statutory scheme for oppression and mismanagement under the Companies Act, 1956, which bars civil court intervention to that extent. The shareholders proposed to sell their shares were necessary parties because effective relief would directly affect their transfer rights, and an injunction could not operate properly in their absence. The articles of association were construed as conferring only a conditional, contingent pre-emptive right, not an absolute one, so declaratory or injunctive relief based on an unqualified pre-emption claim was unsustainable. Case-Laws Companies Law Wed, 02 Dec 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=113543