1967 (4) TMI 75

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....ation of which is now sought for. I directed notice to the Registrar of Companies and wanted a report to be submitted by him whether the objects now sought to be introduced into the memorandum are substantially and totally different from the original objects of the company and whether they are in any way ancillary or incidental to them. The Registrar in his report dated 20th of March, 1967, states that in his opinion there appears to be substantial changes in the main clauses of the company and that the company is to diversify its activities and which, according to him, were unrelated to the existing objects of the company. Inter alia, he invited my attention to objects clauses 5, 6, 7, 9, 10 and 12 and states that these objects appear to c....

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.... from the accredited objects on which the company rested at the time of its incorporation. But it has to be remembered that while sanctioning a memorandum of a company, if the business is substantially remaining the same and if the changes, additions or alterations asked for by the company are only steps in aid to improve its efficiency, this court should not refrain from sanctioning such an application. One other principle also which occurs to me is that the interest of the shareholders is the primary criteria which has to be weighed and considered before the objects of a company can be amended. No doubt, a unanimous resolution of the shareholders or a majority resolution thereof would not furnish a sufficient indicia for alteration being ....