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Powers of the Tribunal

In relation to the redressal of the injustice being done in the companies, the tribunal has got very wide powers or powers. The Tribunal may make any order in relation to the conduct of the company or impose any such condition as may in the opinion of the Tribunal be just and proper in the circumstances of the case. The powers of the Tribunal can be clarified as follows

 

(I) Right to make orders The Tribunal may make the following related orders to prevent injustice and mismanagement

 

1. In relation to regulating the conduct of the company’s business in the future.

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2. In connection with the purchase of shares or other interests of any member of the company by any other member or company.

 

3. If the company is ordered to buy the shares of any member, to the extent

 

Regarding reducing the share capital of the company. 4. In relation to the breach of the contract with the managing director, manager or directors of the company or to change that contract.

 

5. In relation to the breach of a contract with any other person or the alteration of that contract, provided that the party concerned has been given sufficient notice and his consent has been obtained.

 

6. In respect of cancellation of transfer, delivery or payment of any property which is deemed to be fraudulent under the Insolvency Act, within three months prior to the making of the application (for injustice, mismanagement) or against the company.

 

by company

 

7. In respect of any other matter which the Tribunal may deem fit and just. (II) Right to give interim order Before giving the final order, if any person related to the proceeding prays to the Tribunal for an interim order, then if the Tribunal appears to be just and proper, any person in relation to the matter Can give interim orders.

 

(III) Inclusion of directors, etc., as defendants – The Tribunal may order the inclusion of any managing director or any other director or any other respondent, if it is satisfied that there are sufficient reasons for doing so.

(IV) Right to prevent change in the Board of Directors if the Managing Director or any of the Directors complains to the Tribunal that due to change in the ownership of the shares, there is a possibility of change in the Board of Directors and such change would be against the interests of the company. , then after getting the satisfaction it may order that no change should be made in the Board of Directors without its prior permission.

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