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2021 (5) TMI 707 - Tri - Companies LawOppression and Mismanagement - illegal share allotments - void ab-initio allotments - HELD THAT:- This Tribunal has ample powers while dealing with applications filed under Section 241-242 for the purpose of safeguarding the interests of the company and its shareholders and the public in general. Such powers encompass passing of orders that may include exemption or waiver of certain parameters of the Act for larger interests. The instant application is an apt case for exercise of powers in order to bring a quietus to the issues inter-se the parties and for overall interests. The Settlement Agreement dated 20.01.2020 is taken on record and liberty is granted to the Applicants to withdraw the corresponding Company Petitions - Application disposed off.
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