 

(b) No fee shall be charged for issue of new certificates in replacement of those
which are old, defaced or worn out or where there is no further space on the back

and issue of
duplicate share

 

 

 

 

 

 

 

 

 

 

 

 

 

thereof for endorsement of transfer. certificate.
(i) Every new certificate issued under this Article otherwise than as stipulated
above shall be issued on payment of fees not less than Rupees twenty and
not more than Rupees fifty for each certificate as may be fixed by the Board
from time to time. The Board shall also have the discretion to not charge any
fees for this purpose.
(ii) Duplicate share certificate shall be issued in lieu of those that are lost or
destroyed, with prior consent of the Board and without payment of the fee
stated above on such reasonable terms, such as furnishing supporting
evidence and indemnity as the Board deems adequate.
(© | Toaccept from any member, as far as may be permissible by the Board, surrender of | Surrender of
his shares or part thereof, on such terms and conditions as shall be agreed. Shares
(7) __ | Except as required by Applicable Laws, no person shall be recognized by the | Holding of shares
Company as holding any share upon any trust, and the Company shall not be bound | upon trust
by, or be compelled in any way to recognize (even when having notice thereof) any
equitable, contingent, future or partial interest in any share, or any interest in any
fractional part of a share, or (except only as by these Articles or by Applicable Laws)
any other rights in respect of any share except an absolute right to the entirety thereof
in the registered holder.
NOMINATION
(i) Any person whose name is entered in the relevant register as a member of the | Facility of
Company or as a debenture holder may, if he so desires, nominate another person to | nomination
whom the shares or debentures held by him shall vest on his death.
(2) Where the nominee is a minor, it shall be lawful for the holder of the securities, making | Minor as
the nomination to appoint, in the prescribed manner, any person to become entitled to | Nominee
the securities of the company, in the event of the death of the nominee during
his minority.
(3) __ | Such nomination may be revoked at any time and the member may make fresh | Revocation of
nomination if he so desires. nomination
(@ _| The nomination must be made in accordance with the provisions of the Act. Compliance of
law
(©) __| Ifthe shares or debentures are held in joint names, all the joint holders, shall jointly, | Nomination and
nominate a person to whom the shares or debentures shall vest on the death of all the | joint holding
joint holders. Otherwise the nomination shall be liable to be rejected.
(© __| Any person who becomes entitled to shares or debentures due to any nomination in | Rights of
his favour may, upon production of such evidence as may be required by the Board | nominee
and subject as hereinafter provided, elect, either
(a) to be registered himself as holder of the share or debenture, as the case may be;
or
(b) to make such transfer of the share or debenture, as the case may be, as the
deceased shareholder or debenture holder could have made.
CALLS ON SHARES
(| @ The Board may, from time to time, make calls upon the members in respect of | Board may make

 

any monies unpaid on their shares (whether on account of the nominal value of
the shares or by way of premium) and not by the conditions of allotment thereof
made payable at fixed times.

(b) Provided that no call shall exceed one-fourth of the nominal value of the share or
be payable at less than one month from the date fixed for the payment of the last
preceding call.

 

Calls

 

375

 
