CHURCH OF SOUTH INDIA Vs. THE ALWAYE SETTLEMENT

JUDGEMENT

(1.) aThis appeal is directed against the order dated 26 -04 -2012 passed by the Company Law Board, Chennai Bench, in Company Petition No.64 of 2010. The appellants are the petitioners and the respondents are the respondents in the Company Petition.

(2.) Heard Dr. Vincent Panikulangara, learned counsel appearing for the appellants, and Sri.N.N.Sugunapalan, learned Senior Counsel appearing for the contesting respondents.

(3.) The Company Petition was filed before the Company Law Board under Sections 397 and 398 read with Sections 402, 403 and 406 of the Companies Act, 1956, for short, the Act. The first petitioner/appellant is Church of South India, Diocese of North Kerala, represented by their Bishop. The second petitioner/appellant is Mar Thoma Syrian Church of Malabar, represented by their Metropolitan. The Company Petition/Appeal is in the matter of 'The Alwaye Settlement', for short, the Settlement or the Association. The Alwaye Settlement, an association limited by guarantee, is a company registered under the Travancore Companies Regulation (1 of 1092 ME) without the addition of the word 'limited' to its name. It is a company as defined under Section 3 of the Act and hence the provisions thereof are applicable to it. The Settlement was established with the objects of organizing institutions and agencies for effecting educational, economic, social, medical and moral progress of village communities along Christian lines, particularly among the depressed classes, by establishing residential and other schools for boys and girls, land colonies, printing presses, rural reconstruction centres including co -operative societies, dairies, stores, agricultural farms, industries or allied activities and by other means and for other purposes set out in its Memorandum of Association.