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of <h1>Tribunal Powers Under Section 402: Regulate Company Affairs, Modify Agreements, Annul Fraudulent Transactions, Ensure Fairness</h1> Section 402 of the Companies Act, 1956, outlines the powers of the Tribunal when addressing applications under sections 397 or 398. The Tribunal may issue orders to regulate the future conduct of a company's affairs, facilitate the purchase of shares by members or the company itself, and manage share capital reduction. It can also terminate or modify agreements involving directors or managers, subject to fairness and due notice. Additionally, the Tribunal can annul transactions made within three months prior to the application if deemed fraudulent, and address other matters deemed just and equitable.
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