https://www.taxtmi.com/caselaws?id=98448 Alteration of a company's objects clause under section 17 of the Companies Act, 1956 is a discretionary matter even when statutory conditions are met. The court exercises a judicial discretion on the facts of each case, taking into account the company's view of its own interests as well as broader considerations such as business morality and national interests. On the facts stated, those considerations did not justify refusal of sanction, particularly because the company was a private, family-run concern in the nature of a quasi-partnership, and the alteration was sanctioned. en-us Tue, 12 Sep 1967 00:00:00 +0530 Fri, 20 Jan 2012 16:52:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=98448 Alteration of a company's objects clause under section 17 of the Companies Act, 1956 is a discretionary matter even when statutory conditions are met. The court exercises a judicial discretion on the facts of each case, taking into account the company's view of its own interests as well as broader considerations such as business morality and national interests. On the facts stated, those considerations did not justify refusal of sanction, particularly because the company was a private, family-run concern in the nature of a quasi-partnership, and the alteration was sanctioned. Case-Laws Companies Law Tue, 12 Sep 1967 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=98448