https://www.taxtmi.com/caselaws?id=457318 A declaratory suit concerning share-capital reduction under a rehabilitation scheme was maintainable, because the civil court was not barred from deciding an inter se dispute between the company and an individual shareholder. However, the asserted right had not crystallized: reduction of paid-up share capital under the rehabilitation scheme remained contingent on successful implementation and could still be modified until the scheme was fully worked out. As the claimed entitlement was not final or enforceable, declaratory relief was unavailable and the consequential injunction also failed. en-us Wed, 04 May 2022 00:00:00 +0530 Mon, 16 Sep 2024 20:01:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=457318 A declaratory suit concerning share-capital reduction under a rehabilitation scheme was maintainable, because the civil court was not barred from deciding an inter se dispute between the company and an individual shareholder. However, the asserted right had not crystallized: reduction of paid-up share capital under the rehabilitation scheme remained contingent on successful implementation and could still be modified until the scheme was fully worked out. As the claimed entitlement was not final or enforceable, declaratory relief was unavailable and the consequential injunction also failed. Case-Laws Indian Laws Wed, 04 May 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=457318