 

(i) paying up in full, unissued shares or other securities of the Company to be
allotted and distributed, credited as fully paid-up, to and amongst such
members in the proportions aforesaid;

(iii) partly in the way specified in sub-clause (i) and partly in that specified in
sub-clause (ii) above.

 

 

 

 

 

 

 

 

 

 

 

 

 

(3) A securities premium account and a capital redemption reserve account or any other | Issue of Bonus
permissible reserve account may, for the purposes of this Article, be applied in the | Shares
paying up of unissued shares to be issued to members of the Company as fully paid
bonus shares.
(4) __| The Board shall give effect to the resolution passed by the Company in pursuance of | Power of Board to
this Article and issue bonus shares subject to provisions of Section 63. issue bonus shares
(5) Whenever such a resolution as aforesaid shall have been passed, the Board shall- Actions to be
completed for
(a) make all appropriations and applications of the amounts resolved to be capitalised | capitalisation
thereby, and all allotments and issues of fully paid shares or other securities, if
any; and
(b) generally do all acts and things required to give effect thereto.
(© __| The Board shall have power - Board’s power to
issue fractional
(a) to make such provisions, by the issue of fractional certificates/coupons or by | certificate/
payment in cash or otherwise as it thinks fit, for the case of shares or other | coupon etc
securities becoming distributable in fractions; and
(b) to authorise any person to enter, on behalf of all the members entitled thereto,
into an agreement with the Company providing for the allotment to them
respectively, credited as fully paid-up, of any further shares or other securities to
which they may be entitled upon such capitalisation, or as the case may require,
for the payment by the Company on their behalf, by the application thereto of
their respective proportions of profits resolved to be capitalised, of the amount or
any part of the amounts remaining unpaid on their existing shares.
(7) _| Any agreement made under such authority shall be effective and binding on such | Agreement
members. binding on
members
GENERAL MEETINGS
14 | (4) | All general meetings other than annual general meeting shall be called extraordinary | Extraordinary
general meeting. general meeting
(2) _ | The Board may, whenever it thinks fit, call an extraordinary general meeting. Powers of Board
to call
extraordinary
general meeting
PROCEEDINGS AT GENERAL MEETINGS
15 | (4) | Proceedings at General meetings shall be conducted in accordance with the provisions | Conduct of
of the Act and Secretarial Standards. Proceedings
(® | A general meeting of a company may be called by giving not less than clear twenty- | Notice of
one days’ notice either in writing or through electronic mode in such manner as may | Meetings
be prescribed in the Act and Secretarial Standards.
(3) A document or notice may be served or given by the company or given to the joint- | Notice to whom

 

 

 

holders of a share by serving or giving the document or notice on or to the joint-holders

named first in the Register of Members in respect of the share.

 

 

served in case of
joint shareholders

 

381

 
