ABC Ltd. in Sydney is the holding Company of Amusement Pvt. Ltd. in India. The Board of Directors of Indian Company is contemplating issuance of bonus shares. At this juncture, the Tribunal observed that the Company was

Pursuant to section 7(7) of the Companies Act 2013 where a company has been incorporated by furnishing any false or incorrect information or representation or by suppressing any material fact or impression in any of the documents or declaration filed or made for incorporating such company or by any fraudulent action, the Tribunal may on an application made to it on being satisfied that the situation so warrants:- pass such orders, as it may think fit, for regulation of the management of the company including changes, if any in its MOA and AOA, in public interest or in the interest of the company and its members and creditors; or direct that liability of the members shall be unlimited; or pass an order for winding up of the company; or pass such other orders as it may deem fit So, in the given case, the Tribunal can pass the above orders or make directions to Amusement Pvt. Ltd. that the Board is contemplating bonus issue shall not affect the powers of the Tribunal.