Section 138
{1}
of Securities Markets Order, 2013
If it appears to the Authority from any information, record or other document obtained under this Order or regulations made thereunder that the affairs of a listed company or a publicly tradable company is being or has been conducted in a manner unfairly prejudicial to the interests of some or all of its shareholders, the Authority may make an application to the Court for an order under this section.
(2)
If, on an application under this sect\on, the Court is of the opinion that the company's affairs are being or have been conducted in a manner unfairly prejudicial to the interests of its members generally or of some part of the members, whether or not the conduct consists of an isolated act or a series of acts, the Court may-
{a)
make an order restraining the carrying out of the provisions of this
Order or conduct;
{b)
order that the company shall bring in its name the proceedings against the persons, on the terms, as the Court thinks fit;
{c)
appoint a liquidator of the whole or a part of the company's property or business and may specify the powers and duties of the receiver or manager and fix his remuneration; or
{d)
make any other order as it thinks fit, whether for regulating the conduct of the company's affairs in future, or for the purchase of the shares of any members of the company by other members of the company or by the company and, in the case of a purchase by the company, for the reduction accordingly of the company's capital, or otherwise.
(3)
Where an order under this section makes an alteration in or an addition to the memorandum and articles of association of a company, the company shall not have power without the leave of the Court to make any further alteration in or addition to the memorandum and articles of association that are inconsistent with the order.
Power of Authority to issue directions to companies.