Rights on Transmission

A person becoming entitled to a share by reason of the death or insolvency of the holder shall, subject to the Directors’ right to
retain such dividends or money, be entitled to the same dividends and other advantages to which he would be entitled if he were
the registered holder of the share, except that he shall not, before being registered as a Member in respect of the share, be
entitled in respect of it to exercise any right conferred by membership in relation to meetings of the Company.

Provided that the Board may at any time give a notice requiring any such person to elect either to be registered himself or to
transfer the share and if the notice is not complied with within ninety (90) days, the Board may thereafter withhold payment of
all dividends, bonus or other moneys payable in respect of such share, until the requirements of notice have been complied
with.

Borrowing Powers

(a) Subject to the provisions of the Act and these Articles, the Board may from time to time at their discretion raise or
borrow or secure the payment of any such sum of money for the purpose of the Company, in such manner and upon
such terms and conditions in all respects as they think fit, and in particular, by promissory notes or by receiving
deposits and advances with or without security or by the issue of bonds, debentures, perpetual or otherwise, including
debentures convertible into shares of this Company or any other company or perpetual annuities and to secure any
such money so borrowed, raised or received, mortgage, pledge or charge the whole or any part of the property, assets
or revenue of the Company present or future, including its uncalled capital by special assignment or otherwise or to
transfer or convey the same absolutely or in trust and to give the lenders powers of sale and other powers as may be
expedient and to purchase, redeem or pay off any such securities; provided however, that the moneys to be borrowed,
together with the money already borrowed by the Company apart from temporary loans (as defined under Section
180(1) of the Act) obtained from the Company’s bankers in the ordinary course of business shall not, without the
sanction of the Company by a Special Resolution at a General Meeting, exceed the aggregate of the paid up capital of
the Company, its free reserves and securities premium. Provided that every Special Resolution passed by the Company
in General Meeting in relation to the exercise of the power to borrow shall specify the total amount up to which moneys
may be borrowed by the Board of Directors.

(b) The Directors may by resolution at a meeting of the Board delegate the above power to borrow money otherwise than
on debentures to a committee of Directors or managing Director or to any other person permitted by applicable law, if
any, within the limits prescribed.

(©) To the extent permitted under the applicable law and subject to compliance with the requirements thereof, the Directors
shall be empowered to grant loans to such entities at such terms as they may deem to be appropriate and he same shall
be in the interests of the Company.

(d) Any bonds, debentures, debenture-stock or other securities may if permissible under applicable law be issued at a
discount, premium or otherwise by the Company and shall with the consent of the Board be issued upon such terms
and conditions and in such manner and for such consideration as the Board shall consider to be for the benefit of the
Company, and on the condition that they or any part of them may be convertible into Equity Shares of any
denomination, and with any privileges and conditions as to the redemption, surrender, allotment of shares, attending
(but not voting) in the General Meeting, appointment of Directors or otherwise. Provided that debentures with rights
to allotment of or conversion into Equity Shares shall not be issued except with, the sanction of the Company in
General Meeting accorded by a Special Resolution.

General Meetings

Annual General Meetings

(a) The Company shall in each year hold a General Meeting as its Annual General Meeting in addition to any other
meeting in that year.

(b) An Annual General Meeting of the Company shall be held in accordance with the provisions of the Act.
Extraordinary General Meetings

All General Meetings other than the Annual General Meeting shall be called “Extraordinary General Meeting”. Provided that,
the Board may, whenever it thinks fit, call an Extraordinary General Meeting.

Extraordinary Meetings on Requisition

The Board shall, on the requisition of Members, convene an Extraordinary General Meeting of the Company in the
circumstances and in the manner provided under the Act.

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