https://www.taxtmi.com/caselaws?id=99116 Under section 17 of the Companies Act, 1956, opposition to shifting a registered office is limited to persons whose interests are affected and to creditors needing protection, so a State may object only to protect its own specific pecuniary or proprietary interests. The Court held that broad regional or economic objections were not sufficient, and the shareholders' special resolution was bona fide despite the passage of time. It also held that section 18E(1)(b) of the Industries (Development and Regulation) Act, 1951 operated prospectively and could not invalidate an earlier resolution, while section 13(1)(e) barred shifting the industrial undertaking itself, not merely the registered office. The alteration was confirmed subject to securing sales tax dues by bank guarantee. en-us Sat, 19 Jan 1974 00:00:00 +0530 Wed, 25 Jan 2012 12:16:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=99116 Under section 17 of the Companies Act, 1956, opposition to shifting a registered office is limited to persons whose interests are affected and to creditors needing protection, so a State may object only to protect its own specific pecuniary or proprietary interests. The Court held that broad regional or economic objections were not sufficient, and the shareholders' special resolution was bona fide despite the passage of time. It also held that section 18E(1)(b) of the Industries (Development and Regulation) Act, 1951 operated prospectively and could not invalidate an earlier resolution, while section 13(1)(e) barred shifting the industrial undertaking itself, not merely the registered office. The alteration was confirmed subject to securing sales tax dues by bank guarantee. Case-Laws Companies Law Sat, 19 Jan 1974 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=99116