R.M.Prasad, J.

1. In this writ petition, the petitioner-Corporation has assailed the validity of the resolution of the State of Jharkhand dated 23.3.2002, contained in Annexure 8, establishing the Jharkhand State Forest Development Corporation Limited and the certificate of incorporation of the said Corporation issued by the Registrar of Companies, Jharkhand on 27 March, 2002 vide Annexure 9.

2. The petitioner-Corporation is incorporated under the provisions of the Companies Act vide Registration No. 1193 dated 10.2.1975 with an authorised capital of Rs. Five hundred lacks, out of which the share of the State of Bihar is 51% and 49% is of the Government of India. According to the petitioner, in almost all the States of Union of India such Corporations were established as per the recommendation of the National Commission on Agriculture with objects to :

(i) accelerate and increase forest production and productivity;

(ii) contribute to better utilisation of forestry products including timber, fuelwood, climbers, herbs, fruits and seeds, leaves and any product of the forest;

(iii) contribute to the development of industries based on forest products; and

(iv) increase the avail