Section 287 — Powers of Court under section 286

Without prejudice to the
generality of the powers of the Court under section 286, an order under that section
may provide for—

(a) 52[the termination, setting aside or modification of any agreement,
or award compensation, however arrived including but not limited

52 Substituted vide the Companies (Amendment) Act, 2021 dated 1st December, 2021. The substituted
clause (a) was read as under:
“(a) the termination, setting aside or modification of any agreement, however arrived
at between the company and any director, including the chief executive or other
officer, upon such terms and conditions as may, in the opinion of the Court be just
and equitable in all the circumstances;”

to between the company or any other company or any director,
including the chief executive or any other officer, wherein the Court
concludes that such agreement suffers from conflict of interest on
the part of any director or the Board or any such agreement or
contract is prejudicial to the interest of members upon such terms
and conditions as may, in the opinion of the Court, be just and
equitable in all the circumstances;]

(b) setting aside of any transfer, delivery of goods, payment, execution
or other transactions not relating to property made or done by or
against the company within ninety days before the date of the
application which would, if made or done by or against an
individual, be deemed in his insolvency to be a fraudulent
preference; and

(c) any other matter, including a change in management, for which in
the opinion of the Court it is just and equitable that provision should
be made.