Confirmation of memorandum alteration by court follows prescribed notice, Registrar involvement, and resolution of creditor objections. Court confirmation of an alteration to a company's memorandum of association requires a petition supported by affidavit and exhibits, due advertisement and service of notice including on the Registrar of Companies (and where required the Central Government), and provision for affected persons and debenture holders. The court may hear the Registrar and objectors, and may insist that objecting creditors' debts be consented to, discharged, determined or secured before confirming the special resolution; the confirmed altered memorandum is recorded in a schedule to the order.
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Confirmation of memorandum alteration by court follows prescribed notice, Registrar involvement, and resolution of creditor objections.
Court confirmation of an alteration to a company's memorandum of association requires a petition supported by affidavit and exhibits, due advertisement and service of notice including on the Registrar of Companies (and where required the Central Government), and provision for affected persons and debenture holders. The court may hear the Registrar and objectors, and may insist that objecting creditors' debts be consented to, discharged, determined or secured before confirming the special resolution; the confirmed altered memorandum is recorded in a schedule to the order.
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