https://www.taxtmi.com/caselaws?id=432131 A civil suit challenging allegedly fraudulent share entries and seeking declaration, cancellation of share certificates and injunction was held maintainable. The Court distinguished disputes confined to rectification of the register under the Companies Act from a controversy centred on fraud and title to shares, which required evidence and could be tried by the civil court. It held that Section 430 and the company-law share-transfer provisions did not bar civil jurisdiction on these facts, and the insolvency provisions cited were inapplicable because the alleged fraud did not concern initiation of insolvency proceedings. The objection to maintainability therefore failed. en-us Mon, 05 Dec 2022 00:00:00 +0530 Thu, 29 Dec 2022 09:12:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=432131 A civil suit challenging allegedly fraudulent share entries and seeking declaration, cancellation of share certificates and injunction was held maintainable. The Court distinguished disputes confined to rectification of the register under the Companies Act from a controversy centred on fraud and title to shares, which required evidence and could be tried by the civil court. It held that Section 430 and the company-law share-transfer provisions did not bar civil jurisdiction on these facts, and the insolvency provisions cited were inapplicable because the alleged fraud did not concern initiation of insolvency proceedings. The objection to maintainability therefore failed. Case-Laws Companies Law Mon, 05 Dec 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=432131