1960 (11) TMI 45

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ion by the Maharaja Shree Umaid Mills Ltd., 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. ....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....he same under the head of "miscellaneous expenditure" 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....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....n makes a statement- (a)which is false in any 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 com....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ions to funds of political parties in its memorandum and 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 amou....