 

(3)

Board may invest otherwise than in trust securities any compensation received by it
as a result of any merger or amalgamation subject to the provisions of Applicable laws.

Power to invest

 

 

 

 

 

 

 

 

 

 

 

 

(© __ | Subject to the provisions of the Act, the Company shall have the power to make | Enter into
compromise or make arrangements with Creditors and Members, consolidate, | Compromise or
demerge, takeover, absorb units or business entities that have similar or other objects, | Arrangements
amalgamate or merge with other company or companies in accordance with the
provisions of the Act and any other applicable Laws and which would be in the best
interests of the company.

(7) _| Subject to provisions of the Applicable laws, Board may sell, lease or otherwise | Power to sell,
dispose off (subject to any restrictions, if any, imposed by the Shareholders) the whole | lease or dispose
or substantially the whole of the undertaking of the Company or where the Company | off undertakings
holds more than one undertaking, of the whole or substantially the whole of any such
undertakings.

(8) Board may remit or grant time to remit or repay any debt due from a director. Power to remit
debt due by a
director

(9) To appoint at any time and from time to time by a power of attorney, any person to be | To grant power of
the attorney of the Company for such purposes and with such powers, authorities and | attorney
discretions (not exceeding those which are vested in or exercisable by the Directors
under these Regulations) and for such period and subject to such conditions as the
Board may from time to time think fit, with powers for such attorneys to sub-delegate
all or any of the powers, authorities and discretions vested in the attorney for the time
being.

(10) To acquire by lease, mortgage, purchase or otherwise any property, rights or privileges | To acquire and
which the Company is authorized to acquire at such price and on such terms and | dispose of
conditions as the Board may think fit and to sell, let, exchange or otherwise dispose of | property and
absolutely or conditionally any property, rights, privileges and undertakings of the | rights
Company upon such terms and conditions and for such consideration as they think fit.

Provided, however, that the Directors shall not exercise the powers to sell the whole
or substantially the whole of its undertaking or assets unless the previous consent of
the Company is obtained by a resolution.

(1) _| To appoint officers, professionals for permanent, temporary, contractual or special | To appoint,
services as the Board may from time to time think fit and to determine their powers | remove or
and duties and to fix their salaries and to require security in such instances of such | suspend third
amount as the Board may think fit and to remove or suspend any such officers, clerks, | parties,
labourers and other workmen. employees and

other staff

(12) Subject to the provisions of the Act to pay and give gratuities, pensions and allowances | To make statutory
to any person or persons including any Director or to his widow, children or | payments like
dependants that may appear to the Directors just or proper whether any such person, | provident fund,
widow, children or other dependants have or have not a legal claim upon the Company | gratuity, — bonus,
and whether such person is still in the service of the Company or has retired from its | allowance,
services, to make contributions to any funds, to deduct from their monetary payments, | pension,
salaries or wages, or make payment of premiums for the purchase or provision of any | superannuation
such statutory payments like provident fund, gratuity, bonus, allowance, pension, | etc.
superannuation etc.

(13) Subject to the provisions of Section 181 to contribute to the bona fide charitable and | Power to
other funds (subject to any restrictions, if any, imposed by the Shareholders). Contribute to

Charitable — and
other funds

(i4)_| Subject to the provisions of Section 182 to contribute directly or indirectly to any | Power to
political party. contribute to

political party

(i5)_| (@_ To set aside portions of the profits of the Company to form a fund or funds for | To set__ aside

 

objects mentioned above before recommending any dividends.

(b) To make and alter rules and regulations concerning the time and manner of
payment of the contributions of the employees and the Company respectively to
any such fund and accrual, employment, suspension and forfeiture of the benefits

 

profits to form a
fund

 

389

 
