https://www.taxtmi.com/caselaws?id=258804 Rule 9 of the Companies (Court) Rules, 1959 gives the Company Court only inherent procedural powers to prevent abuse of process and secure justice; it does not authorise creation or determination of substantive shareholder rights. A sanctioned scheme under Sections 391(2) and 394 of the Companies Act, 1956 remains subject to supervisory control under Section 392, but that supervision cannot extend to fixing an exit price, compelling compulsory listing, or directing statutory regulators to exercise listing discretion in a particular way. Reliefs such as board representation and compensation for delayed listing were also beyond the scope of the application. The substantive reliefs were held not maintainable and the petition was dismissed. en-us Fri, 09 Jan 2015 00:00:00 +0530 Mon, 20 Apr 2015 11:53:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=258804 Rule 9 of the Companies (Court) Rules, 1959 gives the Company Court only inherent procedural powers to prevent abuse of process and secure justice; it does not authorise creation or determination of substantive shareholder rights. A sanctioned scheme under Sections 391(2) and 394 of the Companies Act, 1956 remains subject to supervisory control under Section 392, but that supervision cannot extend to fixing an exit price, compelling compulsory listing, or directing statutory regulators to exercise listing discretion in a particular way. Reliefs such as board representation and compensation for delayed listing were also beyond the scope of the application. The substantive reliefs were held not maintainable and the petition was dismissed. Case-Laws Companies Law Fri, 09 Jan 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=258804