ORISSA CEMENT LIMITED Vs. REGISTRAR OF COMPANIES

JUDGEMENT

(1.) THIS is on application under Section 17 of the Companies Act, 1 of 1956 (hereinafter referred to as the "Act") for confirmation by Court of the special resolution for alteration of the Memorandum.

(2.) MESSRS Orissa Cement Limited with its registered office at Rajgangpur in the State of Orissa was registered in October. 1949, as a Company limited by shares. Its authorised capital was rupees five crores as detailed in paragraph 3 of the application. Annexure -B is the Memorandum of Association in Clause III whereof the objects for which the Company was established have been enumerated. The Company went into production soon after its incorporation and as the annual reports of 1972 and 1973 go to show the affairs of the Company had been going on well. At the ordinary general meeting held on 30th October, 1973 at the registered office of the Company, a Special Resolution as provided under Section 189 of the Act was duly -passed after compliance with the requirements of the law. A full text of the Resolution is extracted below:

(3.) NOTICE of this application was duly published in the daily Samaj, the Statesman as also in the State Gazette. Notice was also served on the Registrar of Companies as required under Section 17(4) of the Act.