(1.) The petitioners in these applications had, inter alia, questioned the vires of Notification No. SO 565(E), dated 21-6-1995 whereby and whereunder a purported amendment was made in paragraph 1.3 of Schedule X of the Companies Act, 1956 ('the Act') as ultra wires thereof and/or the Constitution of India.
(2.) In view of the fact that a pure question of law is involved, it is not necessary to consider the fact of the matter in great details. Suffice it to say that J.K. Industries Limited had authorised share capital of Rs. 100 crores which was sought to be increased to 150 crores by reason of a resolution adopted in an annual general meeting of the company held on 21-12-1995.
(3.) Eveready Industries Limited was formed with an authorised capital of Rs. 12 crores and the same had been increased from time to time. At an annual general meeting held on 6-8-1996 the authorised capital was sought to be increased from Rs. 40 crores to Rs. 50 crores.