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Allahabad High Court · body

1967 DIGILAW 91 (ALL)

Juggilal Kamlapat Cotton Spinning & Weaving Mills Co. , Ltd. v. ABC

1967-03-16

S.C.MANCHANDA

body1967
ORDER S. C. Manchanda, J. - This is an application under section 17 of the Indian Companies Act, 1956, for adding to the objects of the company given in the Memorandum of Association Having perused the application, affidavit and the annexures there to the alteration which will enable the company to manufacture fertilizers etc., is obviously beneficial. I am also satisfied that there arc no debenture holders and the principal creditors of the company to whom the company owes rupees one lakh and over have given their consent in writing. These arc annexed to this petition for the proposed alteration. The other creditors are fully secured by pledge, hypothecation of mortgage of the Company's property or goods of sufficient value and therefore notice to them may be dispensed with. The Registrar of Companies has been duly served with a notice and has stated that he does not propose to oppose the said petition and such orders as this Court deems fit may be passed. I am also satisfied that the proposed business under the existing circumstance can very conveniently and advantageously b- combined with the business of the Company. I accordingly direct that the alteration of Memorandum of Association of the Company to be effected by the special resolution, dated the 15th September-. 1966 and passed at the annual general meeting of that date be confirmed.