https://www.taxtmi.com/caselaws?id=185722 A petition under Section 250 of the Companies Act, 1956 is maintainable only where the facts justify an investigation under Section 247(1A); it cannot be used as an independent route to obtain restraint orders against transfer of shares. Where proceedings under Section 111A are already pending on the same shareholding and concerted acquisition allegations, the petition duplicates the existing remedy and serves no separate adjudicatory function. In relation to a listed company, takeover-related complaints concerning acting in concert and alleged violations fall within the SEBI takeover framework, which supplies the appropriate investigative and remedial mechanism. The stated petition was therefore not maintainable for the relief sought. en-us Mon, 18 Feb 2008 00:00:00 +0530 Wed, 24 Aug 2016 14:53:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=185722 A petition under Section 250 of the Companies Act, 1956 is maintainable only where the facts justify an investigation under Section 247(1A); it cannot be used as an independent route to obtain restraint orders against transfer of shares. Where proceedings under Section 111A are already pending on the same shareholding and concerted acquisition allegations, the petition duplicates the existing remedy and serves no separate adjudicatory function. In relation to a listed company, takeover-related complaints concerning acting in concert and alleged violations fall within the SEBI takeover framework, which supplies the appropriate investigative and remedial mechanism. The stated petition was therefore not maintainable for the relief sought. Case-Laws Companies Law Mon, 18 Feb 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=185722