9911796707
TMI Blog1964 (2) TMI 33X X X X Extracts X X X X X X X X Extracts X X X X ..... ies. The Registrar of Companies who has filed an affidavit seems to be of the opinion that, having regard to the existing objects of the company, the proposed objects may not fall within the purview of section 17(1). He points out that the petitioner has not specifically set out the facts and circumstances relating to the existing circumstances and as to how the additional objects can conveniently and advantageously be combined with the existing business of the company. Section 17(1)( a ) and ( d ) has employed language of wide amplitude and it is difficult to confine its scope by a statement that it will be applicable to this or that situation. Whether a company can carry on its business more economically or more efficiently is a matter ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... y interpreted. As a matter of fact, courts have approached the section in a liberal way. It is not necessary to cite authority for it. The whole object of the section is enabling. In this case, the existing circumstances are these. The objects of the company include import, export in cement, alumina cement, lime and limestone, kanker and bye-products thereof and building materials gen2rally. The other objects are certainly not confined to the main object of carrying on business in cement. One of the objects is that the company can carry on the business of iron founders, steel founders, non-ferrous metal founders, mechanical engineers, structural engineers, electrical engineers, manufacturers of cast iron and steel pipes, manufacturers of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ording to the needs of the foreign markets from time to time and that the proposed enlargement of the export business can be conveniently as well as advantageously combined with the current business of the company. It is not possible to say that this view of the company is not fair or reasonable or it is so obvious that the export business cannot be combined with the existing business of the company. Having regard to the present objects of the company, I am inclined to think that the proposed objects may well be within the ambit of section 17(1)( a ) and ( d ). Prayer (1) in paragraph 11 is ordered. The petitioner in whose petition the Registrar was given notice and is now appearing will pay the costs of the Registrar, fixed at Rs. 150. ..... X X X X Extracts X X X X X X X X Extracts X X X X
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