https://www.taxtmi.com/caselaws?id=97471 The court upheld the legality of a company's proposed alteration allowing contributions to political parties, emphasizing transparency in accounting for such contributions. Shareholders' approval and lack of evidence against public interests were key factors. The court interpreted the alteration as falling within the scope of Section 17(1)(a) of the Companies Act, 1956, facilitating the company's business operations. Concerns about potential misuse of political contributions were acknowledged but deemed insufficient to invalidate the alteration. The High Court of Bombay dismissed the appeal, with appellants directed to cover their costs. en-us Fri, 21 Jun 1957 00:00:00 +0530 Mon, 16 Jan 2012 18:05:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=97471 The court upheld the legality of a company's proposed alteration allowing contributions to political parties, emphasizing transparency in accounting for such contributions. Shareholders' approval and lack of evidence against public interests were key factors. The court interpreted the alteration as falling within the scope of Section 17(1)(a) of the Companies Act, 1956, facilitating the company's business operations. Concerns about potential misuse of political contributions were acknowledged but deemed insufficient to invalidate the alteration. The High Court of Bombay dismissed the appeal, with appellants directed to cover their costs. Case-Laws Companies Law Fri, 21 Jun 1957 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=97471