No fee on transfer

57.

No fee shall be charged for registration of transfer, transmission, Probate, Succession Certificate and
letter of administration, Certificate of Death or Marriage, Power of Attorney or similar other document
with the Company.

Closure of Register of Members

58.

Subject to the provisions of Section 91 of the Companies Act, 2013, the registration of transfers may be
suspended at such times and for such periods as the Board may, from time to time, determine.

Provided that such registration shall not be suspended for more than thirty days at any one time or for
more than forty-five days in the aggregate in any year or any statutory modification thereof.

Custody of Transfer Deeds

59.

The instrument of transfer shall after registration be retained by the Company and shall remain in its
custody. All instruments of transfer which the Directors may decline to register shall on demand be
returned to the persons depositing the same. The Directors may cause to be destroyed all the transfer
deeds with the Company after such period as they may determine.

Application for transfer of partly paid shares

60.

Where an application of transfer relates to partly paid shares, the transfer shall not be registered unless
the Company gives notice of the application to the transferee and the transferee makes no objection to
the transfer within two weeks from the receipt of the notice.

For this purpose the notice to the transferee shall be deemed to have been duly given if it is dispatched
by prepaid registered post to the transferee at the address given in the instrument of transfer and shall
be deemed to have been duly delivered at the time at which it would have been delivered in the
ordinary course of post.

Recognition of legal representative

6La

61.b.

6L.c

On the death of a Member, the survivor or survivors, where the Member was a joint holder, and his
legal representatives where he was a sole holder, shall be the only person recognised by the Company
as having any title to his interest in the shares.

Before recognising any executor or administrator or legal representative, the Board may require him to
obtain a Grant of Probate or Letters Administration or other legal representation as the case may be,
from some competent court in India.

Provided nevertheless that in any case where the Board in its absolute discretion thinks fit, it shall be
lawful for the Board to dispense with the production of Probate or letter of Administration or such
other legal representation upon such terms as to indemnity or otherwise, as the Board in its absolute
discretion, may consider adequate.

Nothing in clause (a) above shall release the estate of the deceased joint holder from any liability in
respect of any share which had been jointly held by him with other persons.

Registration of persons entitled to share otherwise than by transfer (transmission clause)

62.

Subject to the provisions of the Act and these Articles, any person becoming entitled to any share in
consequence of the death, lunacy, bankruptcy, insolvency of any member or by any lawful means other
than by a transfer in accordance with these presents, may, with the consent of all of the Directors
(which they shall not be under any obligation to give) upon producing such evidence that he sustains
the character in respect of which he proposes to act under this Article or of this title as the Director
shall require either be registered as member in respect of such shares or elect to have some person
nominated by him and approved by the Directors registered as Member in respect of such shares;
provided nevertheless that if such person shall elect to have his nominee registered he shall testify his

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