https://www.taxtmi.com/caselaws?id=100179 Section 392 of the Companies Act, 1956 limits the court to supervising a sanctioned compromise or arrangement, issuing directions, and making modifications needed for its proper working. It cannot be used to set aside the scheme, exclude a creditor from its operation, or grant relief that effectively negates the scheme unless the court is satisfied that the arrangement cannot be worked satisfactorily. A disputed claim for additional and penal interest, without adequate particulars, did not show that the scheme had become unworkable. An application seeking reliefs beyond section 392 was therefore not maintainable, and the creditor was left to pursue any enforceable dues in appropriate proceedings. en-us Thu, 04 Feb 1982 00:00:00 +0530 Tue, 31 Jan 2012 15:05:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=100179 Section 392 of the Companies Act, 1956 limits the court to supervising a sanctioned compromise or arrangement, issuing directions, and making modifications needed for its proper working. It cannot be used to set aside the scheme, exclude a creditor from its operation, or grant relief that effectively negates the scheme unless the court is satisfied that the arrangement cannot be worked satisfactorily. A disputed claim for additional and penal interest, without adequate particulars, did not show that the scheme had become unworkable. An application seeking reliefs beyond section 392 was therefore not maintainable, and the creditor was left to pursue any enforceable dues in appropriate proceedings. Case-Laws Companies Law Thu, 04 Feb 1982 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=100179