TMI BlogSpecial resolution and confirmation by Central Government required for alteration of memorandum.X X X X Extracts X X X X X X X X Extracts X X X X ..... rge or change the local area of its operations; or (d) to carry on some business which under existing circumstances may conveniently or advantageously be combined with the business of the company; or (e) to restrict or abandon any of the objects specified in the memorandum; or (f) to sell or dispose of the whole or any part of the undertaking or of any of the undertakings, of the company; or (g) to amalgamate with any other company or body of persons. (2) The alteration of the provisions of memorandum relating to the change of the place of its registered office from one State to another shall not take effect unless it is confirmed by the Central Government on petition. (3) Before confirming the alteration, th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... to the rights and interests of the creditors of the company and of every class of them. (7) The Central Government may, if it thinks fit, adjourn the proceedings in order that an arrangement may be made to the satisfaction of the Central Government for the purchase of the interests of dissentient members; and may give such directions and make such orders as it thinks fit for facilitating, or carrying into effect, any such arrangement: Provided that no part of the capital of the company may be expended for any such purchase.] ---------------------------- Notes:- [1] Substituted by the Companies (Second Amendment) Act, 2002. Prior to substitution it read as under: "17. Special resolution and confirmation by 1 [Co ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nd (b) that, with respect to every creditor who, in the opinion of the 5 [Company Law Board], is entitled to object to the alteration, and who signifies his objection in the manner directed by the 6 [Company Law Board], either his consent to the alteration has been obtained or his debt or claim has been discharged or has determined, or has been secured to the satisfaction of the 7 [Company Law Board]: Provided that the 8 [Company Law Board] may, in the case of any person or class of persons, for special reasons, dispense with the notice required by clause (a). 9 [(4) The 10 [Company Law Board] shall cause notice of the petition for confirmation of the alteration to be served on the Registrar who shall also be ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ." [3] Substituted by the Companies (Amendment) Act, Act 1974 41 of 1974, section 5, for "Court", w.e.f. 1-2-1975. [4] Substituted by the Companies (Amendment) Act, 1974 Act 41 of 1974, section 5, for "Court", w.e.f. 1-2-1975. [5] Substituted by the Companies (Amendment) Act, 1974 Act 41 of 1974, section 5, for "Court", w.e.f. 1-2-1975. [6] Substituted by the Companies (Amendment) Act, 1974 Act 41 of 1974, section 5, for "Court", w.e.f. 1-2-1975. [7] Substituted by the Companies (Amendment) Act, 1974 Act 41 of 1974, section 5, for "Court", w.e.f. 1-2-1975. [8] Substituted by the Companies (Amendment) Act, 1974 Act 41 of 1974, section 5, for "Court", w.e.f. 1-2-1975. [9] Substituted by the Companies (Amendment) A ..... X X X X Extracts X X X X X X X X Extracts X X X X
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