https://www.taxtmi.com/caselaws?id=97953 Alteration of a memorandum object that promotes a default beneficiary to primary beneficiary is not a permissible restriction or abandonment of the company's objects and therefore cannot be authorised under the Companies Act provision relied on; holders of debenture stock (including those secured by a floating charge) are entitled to statutory notice of meetings and such notice was not given; and a provision framed as an object in the memorandum cannot be recharacterised as an article-level condition to evade the memorandum requirement, so the special resolution altering clause 3(T) was invalid for both lack of power and defective notice. en-us Tue, 22 May 1962 00:00:00 +0530 Wed, 18 Jan 2012 16:42:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=97953 Alteration of a memorandum object that promotes a default beneficiary to primary beneficiary is not a permissible restriction or abandonment of the company's objects and therefore cannot be authorised under the Companies Act provision relied on; holders of debenture stock (including those secured by a floating charge) are entitled to statutory notice of meetings and such notice was not given; and a provision framed as an object in the memorandum cannot be recharacterised as an article-level condition to evade the memorandum requirement, so the special resolution altering clause 3(T) was invalid for both lack of power and defective notice. Case-Laws Companies Law Tue, 22 May 1962 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=97953