Section 69(2) in National Company Law Tribunal Rules, 2016
(2)On petition under sub-section (1), the Tribunal, after hearing the petitioner and any other person as appears to it to be interested in the petition, may, if it is satisfied, having regard to all the circumstances of the case, approve for issue of further redeemable preference shares equal to the amount due, including the dividend thereon, in respect of unredeemable preference shares:Provided that the Tribunal shall, while giving approval, order the redemption forthwith of preference shares held by such persons who have not consented to the issue of further redeemable preference shares:Provided further that the Tribunal may, at its discretion, make such orders as to costs as it thinks fit.[* * *] [Omitted '(3) The decision of the Tribunal on the petition shall be final.' by Notification No. G.S.R. 1159(E), dated 20.12.2016 (w.e.f. 21.7.2016).]
