(7)Without prejudice to the provisions of sub-section (6), where a company has been got incorporated by furnishing any false or incorrect information or representation or by suppressing any material fact or information 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,—(a)pass such orders, as it may think fit, for regulation of the management of the company including changes, if any, in its memorandum and articles, in public interest or in the interest of the company and its members and creditors; or(b)direct that liability of the members shall be unlimited; or(c)direct removal of the name of the company from the register of companies; or(d)pass an order for the winding up of the company; or(e)pass such other orders as it may deem fit:Provided that before making any order under this sub-section,—(i)the company shall be given a reasonable opportunity of being heard in the matter; and(ii)the Tribunal shall take into consideration the transactions entered into by the company, including the obligations, if any, contracted or payment of any liability.
