Maximum number or joint holders

24.b. | The Company shall not be bound to register more than three persons as the joint holders of any share.

Company not bound to recognise any interest in share other than that of registered holders

25. Except as ordered by a court of competent jurisdiction or as by Law required, the Company shall not be
bound to recognise any equitable, contingent, future or partial interest in any share, or any right in
respect of a share other than an absolute right thereto, in accordance with these Articles, in the person
from time to time registered as the holder thereof but the Board shall be at liberty at its sole discretion
to register any share in the joint names of any two or more persons or the survivor or survivors of them.

UNDERWRITING AND BROKERAGE

Commission

27. Subject to the provisions of Section 40 of the Companies Act, 2013, the Company may at any time pay
a commission to any person in consideration of his subscribing or agreeing, to subscribe (whether
absolutely or conditionally) for any shares or debentures in the Company, or procuring, or agreeing to
procure subscriptions (whether absolutely or conditionally) for any shares or debentures in the
Company. However, such commission shall not exceed the maximum rates laid down by the Act and
the rules made in that regard. Such commission may be satisfied by payment of cash or by allotment of
fully or partly paid shares or partly in one way and partly in the other.

Brokerage

28. The Company may pay on any issue of shares and debentures such brokerage as may be reasonable and
lawful.

CALLS

Directors may make calls

29.1 The Board may, from time to time, subject to the terms on which any shares may have been issued and
subject to the conditions of allotment, by a resolution passed at a meeting of the Board and not by a
circular resolution, make such calls as it thinks fit, upon the Members in respect of all the moneys
unpaid on the shares held by them respectively and each Member shall pay the amount of every call so
made on him to the persons and at the time and places appointed by the Board;

29.2 A call may be revoked or postponed at the discretion of the Board; and

29.3 A call may be made payable by instalments.

Notice of Calls

30. Fifteen days’ notice in writing of any call shall be given by the Company specifying the time and place
of payment, and the person or persons to whom such call shall be paid.

Calls to date from Resolution

Bl; A call shall be deemed to have been made at the time when the resolution of the Board of Directors
authorising such call was passed and may be made payable by the members whose names appear on the
Register of Members on such date or at the discretion of the Directors on such subsequent date as may
be fixed by Directors.

Calls on uniform basis

32. Whenever any calls for further share capital are made on shares, such calls shall be made on uniform
basis on all shares falling under the same class. For the purposes of this Article shares of the same

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