( 1 ) THIS is an application under Section 17 of the Companies Act 1956, for confirmation of the alterations of the memorandum of association of the applicant company in terms of the special resolution passed at on extraordinary general meeting of the company on July 12, 1963.

( 2 ) THE company was incorporated in 1943 under the Indian Companies Act, 1913. The objects of the company, inter alia, were as follows: to carry on all kinds of insurance, guarantee and indemnity business. The insurance business was to include Life Assurance, Fire Insurance, Marine and Aerial Insurance, Transit Insurance, Accident Insurance and other varieties of Insurance business, set out under paragraph 3 of the petition. Among the other objects were the purchase of and dealing in and lending on life, reversionary and other interest in property of ail kinds, to act as agent for the Issue of bills, bonds, debentures stock and to guarantee the subscription of any such shares or securities and act as trustees, executors or administrators. One among the other objects of the company of which mention should be made is to carry on business as capitalist, financiers, concessionaries and merchan