A scheme of amalgamation of Company X with company Y was presented to the Tribunal for sanction after the scheme was approved by an overwhelming majority of shareholders and secured and unsecured creditors of both the companies at meetings held under Section 230. While the scheme was pending in the Tribunal some of the members requisitioned an extra ordinary general meeting for the purpose of requesting Company X to negotiate with Company Y as according to the requisitionists the exchange ratio was not fair and reasonable.

(a)Can the directors refuse to call the extra ordinary general meeting?

(b)Can the Tribunal prevent the company from holding a requisitioned meeting?