https://www.taxtmi.com/caselaws?id=103266 A substantial shareholder does not become a promoter merely by asserting prior association or relying on an unconsummated share-transfer arrangement; promoter status depends on the legal character of promotion, and after the stage under section 17(3) the focus shifts to feasibility, financial capacity, managerial competence, and stakeholder support. A rehabilitation scheme under the Sick Industrial Companies (Special Provisions) Act, 1985 may include incidental and consequential measures for revival, but it cannot compel an authority to exercise a power not conferred by statute. A direction extending limitation beyond the Limitation Act is not enforceable, though such an infirmity does not necessarily invalidate the scheme as a whole. en-us Wed, 19 Jul 1995 00:00:00 +0530 Tue, 21 Feb 2012 18:46:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=103266 A substantial shareholder does not become a promoter merely by asserting prior association or relying on an unconsummated share-transfer arrangement; promoter status depends on the legal character of promotion, and after the stage under section 17(3) the focus shifts to feasibility, financial capacity, managerial competence, and stakeholder support. A rehabilitation scheme under the Sick Industrial Companies (Special Provisions) Act, 1985 may include incidental and consequential measures for revival, but it cannot compel an authority to exercise a power not conferred by statute. A direction extending limitation beyond the Limitation Act is not enforceable, though such an infirmity does not necessarily invalidate the scheme as a whole. Case-Laws Companies Law Wed, 19 Jul 1995 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=103266