Article 38 provides that, “The provisions of these Articles 27 to 36 shall mutatis mutandis apply to the transfer and transmission
of debentures and other Securities of the Company or transmission thereof by operation of Applicable Law.”

Forfeiture of Shares

Article 39 provides that, “If any member fails to pay any call or instalment of a call on or before the day appointed for the
payment of the same or any such extension thereof as aforesaid, the Board may, at any time thereafter while the call or instalment
remains unpaid, give notice to him requiring him to pay the same together with any interest that may have accrued and all
expenses that may have been incurred by the Company by reason of such non-payment. The provisions of forfeiture shall apply
in the case of non- payment of any sum which, by the terms of issue of a share, becomes payable at a fixed time, whether on
account of the nominal value of the share or by way of premium, as if the same had been payable by virtue of a call duly made
and notified.”

Lien

Article 42 provides that, “The fully paid shares will be free from all lien, while in the case of partly paid shares, the Company's
lien, if any, will be restricted to monies called or payable at a fixed time in respect of such shares.

The Company shall have a first and paramount lien (i) on every share/ debenture to the extent of all moneys called or payable at
a fixed time in respect of such shares and (ii) on all shares (not being fully paid-up)/ debentures registered in the name of a single
person, for all monies presently payable by him or his estate to the Company.”

Article 43 provides that:

ji) “Any lien on shares/ debentures shall extend to all dividends, interests and bonuses, as applicable, from time to time
declared in respect of such shares/ debentures. Unless otherwise agreed, the registration of a transfer of shares/
debentures shall not operate as a waiver of the Company’s lien, if any, on such shares/ debentures. The Board may at
any time declare any shares/debentures to be wholly or in part exempt from the provisions of this Article.

(ii) The Company may take steps to enforce its lien on shares as provided in Regulations 10 to 12 of Table F under Schedule
J of the Act.

(iii) The validity of the sale shall not be impeached by any Person and the remedy (if any) of any aggrieved Person shall be
in damages only and against the Company exclusively.”

Chief Executive Officer, Manager, Company Secretary or Chief Financial Officer
Article 44 provides that:

jo “The appointment/ re-appointment or termination of the Managing Director, Whole-time Director, Manager or the Chief
Executive Officer by whatever name called shall be made by the Board for such tenure and at such remuneration and
upon such terms and conditions as it may think fit, by means of a resolution of the Board, subject to the approval of the
Reserve Bank of India and the shareholders of the Company.

(ii) A Director may be appointed as chief executive officer, manager, company secretary or chief financial officer.

(iii) A provision of the Act or these articles requiring or authorising a thing to be done by or to a director and chief executive
officer, manager, company secretary or chief financial officer shall not be satisfied by its being done by or to the same
person acting both as director and as, or in place of, chief executive officer, manager, company secretary or chief
financial officer.”

Board Of Directors

Article 45 provides that, “The Company shall at all times, ensure compliance with Applicable Laws for appointment of Directors,
including ‘fit and proper’ criteria for directors of banks as issued by RBI dated June 24, 2004, 1949 Act, the Guidelines and any
other Applicable Law in relation to corporate governance requirements for small finance banks, that may be prescribed by the
RBI from time to time.

Until otherwise determined by the Company in General Meeting, and subject to Applicable Law, the Board shall constitute of
not less than 3 (three) and not more than 15 (fifteen) Directors at any time. The composition of the Board shall be in compliance
with the provisions of the 1949 Act and shall include persons with professional and other experience as required under the said
Act. Every Director shall be appointed by the Company in General Meeting.”

Article 47 provides that, “The Board shall have a majority of Independent Directors at all times. Such Independent Directors
shall include persons with professional and other experience as required under the 1949 Act. The Company shall appoint such

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