 

(©) Every person holding shares of the Company and whose name is entered as the
Beneficial Owner in the records of the Depository shall be deemed to be a
Shareholder of the Company.

(a) The Beneficial Owner of Securities shall, in accordance with the provisions of
these Articles and the Act, be entitled to all the rights and subject to all the
liabilities in respect of his Securities, which are held by a Depository.

 

 

 

 

 

 

 

 

 

 

 

 

(5) Except as ordered by a court of competent jurisdiction or as may be required by Law | Treatment as
and subject to the applicable provisions of the Act, the Company shall be entitled to | Beneficial Owner
treat the person whose name appears on the Register as the holder of any share or | of shares
whose name appears as the Beneficial Owner of any share in the records of the
Depository as the absolute owner thereof and accordingly shall not be bound to
recognize any benami trust or equity, equitable contingent, future, partial interest,
other claim to or interest in respect of such shares or (except only as by these Articles
otherwise expressly provided) any right in respect of a share other than an absolute
right thereto in accordance with these Articles, on the part of any other person whether
or not it has expressed or implied notice thereof.

(© | The Company shall cause the Depository to keep a Register and Index of Beneficial | Register and
Owners with details of shares and debentures held in dematerialized forms in any | Index of
media as may be permitted by Law including any form of electronic media. The | Beneficial
Register and Index of Beneficial Owners maintained by a Depository under the | Owners
Depositories Act shall be deemed to be a Register and Index of members for the
purposes of this Act.

(7) Notwithstanding anything contained in the Act or these Articles to the contrary, where | Service of
Securities are held in a Depository, the records of the beneficial ownership may be | Documents
served by such Depository on the Company by means of electronic mode or by
delivery of floppies or discs.

(8) Notwithstanding anything in the Act or these Articles, where Securities are dealt with | Allotment of
by a Depository, the Company shall intimate the details of allotment of relevant | Securities dealt
Securities thereof to the Depository immediately on allotment of such Securities. with in a

Depository

() __| Subject to compliance with applicable Law, if a Beneficial Owner seeks to opt out of | Option to opt out
a Depository in respect of any Security, he shall inform the Depository accordingly. | in respect of any
The Depository shall on receipt of such information make appropriate entries in its | such Security
records and shall inform the Company. The Company shall within such prescribed
time of the receipt of intimation from a Depository and on fulfilment of such
conditions and on payment of such fees as may be specified by the regulations, issue
the certificate of securities to the Beneficial Owner or the transferee as the case may
be.

(0) | Upon receipt of certificate of securities on surrender by a person who has entered into | Cancellation _ of
an agreement with the Depository through a participant, the Company shall cancel | Certificates upon
such certificates and shall substitute in its record, the name of the Depository as the | surrender by
registered owner in respect of the said Securities and shall also inform the Depository | Person
accordingly.

(11) | Except as specifically provided in these Articles, the provisions relating to joint | Provisions of
holders of securities, calls, lien, forfeiture, transfer and transmission of securities shall | Articles to apply
be applicable to securities held in Depository so far as they apply to securities held in | to Securities held
physical form subject to the provisions of the Depositories Act. in Depository

(12)_| The provisions of the Articles relating to issue of certificates, lien, calls, transfers, | Provisions of
transmissions, forfeiture, joint holdings, registers shall mutatis mutandis apply to issue | Articles to apply
of any securities including debentures, whether in physical mode or in dematerialized | mutatis mutandis
form to the extent applicable (except where the Act or applicable laws otherwise | to Securities
requires) for the Company.

SHARE CERTIFICATES
(| @ Every person whose name is entered as a member in the register of members shall | Issue of Share

 

be entitled to receive within two months after allotment or within one month from
the date of receipt by the Company of the instrument or application for the

 

certificates

 

373

 
