TMI Blog1973 (12) TMI 54X X X X Extracts X X X X X X X X Extracts X X X X ..... ct, 1956 (hereinafter referred to as "the Act"), by Samantaraj Films, Private Ltd. (hereinafter referred to as "the company"), registered on the 28th January, 1969, under the Act as a company limited by shares, for confirming the alterations of its memorandum of association. The registered office of the company is situated at Rajabagicha, Cuttack. The share capital of the company is Rs. 10,00,000 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... it was resolved that the following new sub-clause being sub-clause 26 be inserted in the memorandum of association of the company : "3-B (26) To give any donations or grant for any religious, educational, charitable or any other social purposes or for the benefit of humanity or section thereof". The special resolution was filed with the Registrar of Companies in accordance with section 192 of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ll confirm any proposed alteration in the memorandum of association of a company are dealt with elaborately by me in Straw Products Ltd. v. Registrar of Companies [1969] 39 Comp. Cas. 974 (Orissa) and it is unnecessary to re-state the principles here. If the alteration to be made in the memorandum of association is within the ambit of the company's power under section 17(1) of the Act and does ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s come forward to oppose the alteration. There is inherently nothing wrong in giving donation or grants from out of the profits of the company for any religious, educational, charitable or any other social purpose or for the benefit of humanity. When donation to political parties from out of the funds of the company is considered unobjectionable as has been held in In re Indian Iron and Steel Co. ..... X X X X Extracts X X X X X X X X Extracts X X X X
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