TaxTMI 
TaxTMI 
1960 (11) TMI 45
X X X X Extracts X X X X
X X X X Extracts X X X X
....d., Pali, under section 17 of the Companies Act for confirmation of the alteration of the memorandum of association of the company effected by the special resolution passed on 28th September, 1959, at a general meeting of its shareholders. The main object of the amendment is to enable the company to make contributions towards the funds of political parties. The application has been opposed by the....
X X X X Extracts X X X X
X X X X Extracts X X X X
....xpenditure" in Part I of Schedule VI of the Companies Act, 1956, read with clause 3(x)(1) of Part II of Schedule VI of the Companies Act, 1956, setting out the form of balance sheet and the requirements as to profit and loss account. A question arose before that High Court as to whether the court had power to enforce the conditions imposed by it. As it was felt that there was not such power under ....
X X X X Extracts X X X X
X X X X Extracts X X X X
....ny material particular, knowing it to be false, or (b)which omits any material fact knowing it to be material; he shall, save as otherwise expressly provided in this Act, be punishable with imprisonment for a term which may extend to two years, and shall also be liable to fine." It appears to me that if a condition is imposed requiring the company to show the contributions in the balance sheet ....
X X X X Extracts X X X X
X X X X Extracts X X X X
.... the Companies Act does not give any power to the court to compel it to disclose in its balance sheet or profit and loss account contributions made to different political parties by name. It was pointed out that the company finds it necessary to make contributions to the funds of more than one political party and public disclosure of the amount of these contributions is harmful to its interests. T....