https://www.taxtmi.com/caselaws?id=111969 The Court held that the application under Section 392 of the Companies Act is maintainable, emphasizing the Company Court's jurisdiction to modify the scheme to ensure its proper working. It concluded that the Court has the power to interpret the term "suitable arrangement" in the scheme, requiring mutual agreement between the parties. The Gas Supply Master Agreement and Gas Sale and Purchase Agreement executed by RIL's Board of Directors were found to be in breach of the scheme. The Court rejected fraud allegations and highlighted the Government's role in approving gas supply agreements. Interim orders were continued for four months to allow parties to renegotiate terms, with specific directives provided for settlement. en-us Mon, 15 Oct 2007 00:00:00 +0530 Mon, 29 Dec 2014 17:08:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=111969 The Court held that the application under Section 392 of the Companies Act is maintainable, emphasizing the Company Court's jurisdiction to modify the scheme to ensure its proper working. It concluded that the Court has the power to interpret the term "suitable arrangement" in the scheme, requiring mutual agreement between the parties. The Gas Supply Master Agreement and Gas Sale and Purchase Agreement executed by RIL's Board of Directors were found to be in breach of the scheme. The Court rejected fraud allegations and highlighted the Government's role in approving gas supply agreements. Interim orders were continued for four months to allow parties to renegotiate terms, with specific directives provided for settlement. Case-Laws Companies Law Mon, 15 Oct 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=111969