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TMI Blog1958 (2) TMI 10X X X X Extracts X X X X X X X X Extracts X X X X ..... cial resolution of the shareholders of the company passed on December 17, 1956, with regard to alteration of the memorandum of association of the company. The special resolution is as follows: "Resolved that after clause 3 (R) of the memorandum of association of the company, the following sub-clause be added and numbered 'S': (S) To subscribe, contribute, guarantee money for or otherwise aid a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... er all the questions in detail in the present case. Under section 17(1)( a ) of the Act, a company may, by a special resolution, alter the' provisions of its memorandum so as to enable it to carry on its business more economically or more efficiently. It seems to me that the alteration proposed by the special resolution in question will certainly be conducive to the business of the company being ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... own by Mukharji J. in the case which I have already cited are quite appropriate. In imposing the terms and conditions, therefore, I propose to follow the decision in that case with such modifications here and there as I consider necessary. In the result, I confirm the special resolution passed by the meeting of the shareholders of the company on December 17, 1956, regarding the addition of claus ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d of "miscellaneous expenditure" in Part I of Schedule VI of the Companies Act, 1956, read with clause 3( x )( i ) of Part II of Schedule VI of the Companies Act, 1956. 3.At the expiry of the period of six years, the company may apply for extension of the period of confirmation of its special resolution of December 17, 1956, for a further period. But in that application, which will be supported ..... X X X X Extracts X X X X X X X X Extracts X X X X
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