IN RE: INDIAN ALUMINIUM CO LTD Vs. STATE

JUDGEMENT

(1.) This is an application by Indian Aluminium Company Limited, inter alia, for the confirmation of a resolution passed by the Extra-ordinary General Meeting of the company held on August 28, 1964, whereby it was resolved-that the registered office of the company should be changed from Calcutta in the State of West Bengal to some place in the State of Mysore.

(2.) This company was incorporated on December 7, 1938, inter alia, to conduct and carry on the business of general metal founders, casters, spinners, rollers and workers of metals and their alloys including aluminium, sodium and their alloys and metalic combinations of all kinds, electrical, mining and civil engineers, metal and mineral merchants, miners, carriers and contractors and to carry on any business relating to the winding and working of iron ore, coal, bauxite, magnesite and other minerals or metalic ores or substances of all descriptions, the production and working of aluminium hydroxide, alumina, magnesia and other oxides and the winding and working of salts and other combinations thereof and of any other chemical pro ducts.

(3.) The company has an authorised capital of Rs. 10,00,00,000 which has practically been subscribed and paid up. The company has issued Convertible Loan Stock and Debenture Stocks to the extent of more than Rs. 10,00,00,000 and other liabilities exceeding a sum of Rs. 2,00,00,000. The company's financial position is sound for its assets exceed its liabilities by Rs. 11,47,29,344.