1966 (12) TMI 37

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..... es. What is now intended to be done is to add new sub-clauses (23) to (34) after clause 3, sub-clause (22), of the existing objects. The intended new clauses are as follows: "(23) To enter into contracts with the Government and other persons for: (A) Construction of buildings, walls, boundary walls, bridges, dams and embankments. (B) Levelling of land, tanks, river beds and canals. (24)To construct buildings and houses and give them on lease or rent. (25)To construct buildings and houses and sell them. (26)To do all kinds of fabrication works of steel, aluminium, copper, zinc and alloys. (27)To purchase, sell and erect various types of machineries and their parts. (28)To purchase, sell, acquire and otherwise deal in shares, .....

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..... rations are required to enable the company to carry, on its business more economically or more efficiently or that they ace necessary to attain its main purpose by new or improved means or that they come within the concept of "some business which, under existing circumstances, may conveniently or advantageously be combined with the business of the company" The business of the company as its name implies and the memorandum and the objects indicate is mainly mining. It is called a mining corporation; no doubt, it has other subsidiary and ancillary powers as stated in the articles and in the memorandum. But they are in essence associated objects and related purposes. Its main business is mining. The proposed clauses 23, 24 and 25 in my view .....

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..... red the company is already covered by clause 3(6) of the existing memorandum. Proposed clause (28) is covered by existing clause 3(14) of the memorandum. Proposed clause (29) is similarly covered by clause 3(4)( g ) of the existing memorandum. Proposed clause (30) is covered also by existing clause 3(14) of the existing memorandum. Proposed clause (31) is to sell goods on hire purchase system which is a different type of business altogether. Proposed clause (32) is already covered by existing clause 3(20) of the memorandum. Proposed clauses (33) and (34) relate to building hotels and restaurants, and doing business in them will be an activity which has nothing to do with the business of the company. In this view of the matter, I do not th .....

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