Companies Law Ready Reckoner by Bloomsbury India Professional

Contents at a glance

Contents at a glance About the Author ...............................................................................................................................................v Preface ............................................................................................................................................................. vii Acknowledgements ............................................................................................................................................ix Table of contents............................................................................................................................................. xiii

PART A Concise Referencer

Authorities ........................................................................................................................................................1 Certificate/Certification ...............................................................................................................................41 Collection of Main Object Clauses ..............................................................................................................47 Enforcement Status of Companies Act, 2013 ...........................................................................................103 Key timelines to remember ........................................................................................................................133 Limits under Companies Act, 2013 ...........................................................................................................167 Penalties under Companies Act, 2013 ......................................................................................................181 Privileges and Exemption ..........................................................................................................................237 Types of Resolution .....................................................................................................................................255

PART B Chapter 1 Chapter 2 Chapter 3 Chapter 4 Chapter 5 Chapter 6 Chapter 7 Chapter 8 Chapter 9 Chapter 10 Chapter 11 Chapter 12 Chapter 13 Chapter 14 Chapter 15 Chapter 16

Ready Reckoner

Types of Companies .......................................................................................................277 Incorporation of Company ............................................................................................287 Memorandum of Association & Alteration Thereof ..................................................319 Articles of Association and alteration thereof .............................................................359 One Person Company .....................................................................................................381 Foreign Company ............................................................................................................407 Government Company ...................................................................................................439 Nidhi Company ...............................................................................................................451 Insolvency & Bankruptcy code on Companies Act, 2013 ..........................................471 Incorporation of Companies with Charitable Objects ................................................511 Types of Prospectus ........................................................................................................537 Listing of Securities .........................................................................................................569 Private Placement ............................................................................................................583 Kinds of Share Capital & Voting Rights.......................................................................599 Nomination ......................................................................................................................617 Issuance of share capital .................................................................................................625 xi

Company Law Ready Reckoner

Chapter 17 Chapter 18 Chapter 19 Chapter 20 Chapter 21 Chapter 22 Chapter 23 Chapter 24 Chapter 25 Chapter 26 Chapter 27 Chapter 28 Chapter 29 Chapter 30 Chapter 30 Chapter 31 Chapter 33 Chapter 34 Chapter 35 Chapter 36 Chapter 37 Chapter 38 Chapter 39 Chapter 40 Chapter 41 Chapter 42 Chapter 43 Chapter 44 Chapter 45 Chapter 46 Chapter 47

xii

Reduction/buy back of share capital ...........................................................................659 Debentures .......................................................................................................................679 Invitation and Acceptance of Deposits by Companies ..............................................697 Registration of Charges ..................................................................................................735 Register of members and Annual Return ....................................................................755 Annual General Meeting and Extra-Ordinary General Meeting and their related Points ..................................................................................................779 Dividend ...........................................................................................................................837 Books of Accounts and Financial Statements .............................................................863 Depreciation ....................................................................................................................921 Corporate Social Responsibility (CSR) ........................................................................951 Boardâ&#x20AC;&#x2122;s Report .................................................................................................................969 Audit and Auditors .........................................................................................................991 Internal Audit ................................................................................................................1037 Cost Audit ......................................................................................................................1055 Cost Audit ......................................................................................................................1077 Company secretary and secretarial audit ..................................................................1097 Constitution of Board ...................................................................................................1109 Independent Directors ..................................................................................................1135 Disqualification, Qualifications and Duties of Directors .........................................1153 Committees and Board Meetings ...............................................................................1179 Powers of Board ...........................................................................................................1219 Appointment and Remuneration of Managerial Personnel ....................................1263 Inspection, Inquiry and Investigation ........................................................................1307 Compromises, Arrangement and Amalgamation ....................................................1335 Prevention of Oppression & Mismanagement ..........................................................1377 Registered Valuers ........................................................................................................1393 Removal of names of companies from the Register of Companies......................................................................................................................1405 Winding up ....................................................................................................................1421 National Company Law Tribunal and Appellate Tribunal .....................................1503 Special Court ..................................................................................................................1581 Miscellaneous ................................................................................................................1593

Table of contents

Table of contents About the Author ...............................................................................................................................................v Preface ............................................................................................................................................................. vii Acknowledgements ............................................................................................................................................ix Contents at a glance ..........................................................................................................................................xi

PART A Concise Referencer

PART A Ready Reckoner Chapter 1 1.1. 1.2. 1.3. 1.4. 1.5. 1.6. 1.7. 1.8. 1.9. 1.10. 1.11. 1.12. 1.13. 1.14.

Types of Companies

Introduction.................................................................................................................................278 Types of companies ....................................................................................................................278 Small company............................................................................................................................279 One person company .................................................................................................................279 Private company .........................................................................................................................279 Public company ..........................................................................................................................280 Listed company...........................................................................................................................280 Non-profit company ..................................................................................................................281 Nidhi company ...........................................................................................................................281 Foreign company ........................................................................................................................282 Government company ...............................................................................................................282 Producer company .....................................................................................................................283 Holding company .......................................................................................................................283 Subsidiary company...................................................................................................................283 xiii

Company Law Ready Reckoner

1.15. 1.16. 1.17.

1.18.

Joint ventures ..............................................................................................................................284 Associates ....................................................................................................................................284 On the basis of incorporation ....................................................................................................284 1.17.1. Chartered companies ...........................................................................................285 1.17.2. Statutory company ...............................................................................................285 1.17.3. Registered company ............................................................................................285 On the basis of liability ..............................................................................................................285 1.18.1. Companies limited by shares .............................................................................285 1.18.2. Companies limited by guarantee .......................................................................286 1.18.3. Unlimited companies ..........................................................................................286

Chapter 2

Incorporation of Company

Sections/Rules applicable to Incorporation ............................................................................................289 Introduction to Incorporation of Company .............................................................................................289 Corresponding Provisions of 1956 ............................................................................................................289 Comparative Study: 2013-1956 ..................................................................................................................289 Objective Behind the Law ..........................................................................................................................291 2.1 Formation of Company..............................................................................................................292 2.2 Incorporation Procedure ...........................................................................................................292 2.3 Obtain Digital Signature Certificate.........................................................................................292 2.4 Obtain Director Identification Number ...................................................................................293 2.4.1 Director Requirement ..........................................................................................293 2.4.2 Procedure to Obtain Director Identification Number .....................................293 2.5 Search for Company Name Availability .................................................................................293 2.6 Application for Reservation of Name ......................................................................................293 2.6.1 Application to Registrar ......................................................................................293 2.6.2 Declaration required while filing e-Form INC-1 .............................................294 2.6.3 Common Reasons for Rejection of Name .........................................................294 2.6.4 Approval by Registrar and Validity of Approval ...........................................299 2.6.5 Name applied through wrong and incorrect information .............................299 2.7 Preparation of Memorandum of Association (MOA) and Articles of Association (AOA) .....................................................................................................................300 2.7.1 Memorandum of Association .............................................................................300 2.7.2 Articles of Association .........................................................................................300 2.7.3 Subscriber Clause .................................................................................................300 2.8 Declaration from Professionals .................................................................................................302 2.9 Affidavit from Each Subscribers and First Directors .............................................................303 2.10 Particulars of Every Subscriber ................................................................................................303 2.11 Simplified Proforma for Incorporating Company Electronically (SPICE) .........................................................................................................................................305 2.11.1 Incorporation Procedure .....................................................................................308 2.11.2 Integrated Application ........................................................................................308 xiv

Table of contents

2.11.3 2.11.4 2.11.5 2.11.6 2.11.7 2.11.8 2.11.9 2.11.10 2.11.11

Types of Company incorporated under Integrated Process ...................................................................................................................308 Directors Details ...................................................................................................308 Proposal of Name.................................................................................................309 Fees.........................................................................................................................309 e-MOA and e-AOA ..............................................................................................309 Signing of MOA and AOA .................................................................................309 Registered Office ..................................................................................................309 Attachments to INC 29 ........................................................................................310 Duty of the Registrar ...........................................................................................310

Defective Form .............................................................................................................................. 310 2.12

2.13 2.14 2.15

2.16

Incorporation of Part â&#x20AC;&#x201C; I Company and Company having more than 7 subscribers ...................................................................................................................................310 2.12.1 E-Form INC-7 .......................................................................................................311 2.12.2 Stamp Duty on MOA and AOA.........................................................................311 2.12.3 DIR 12 ....................................................................................................................312 2.12.4 INC 22 ....................................................................................................................312 2.12.5 Certificate of Incorporation ................................................................................312 2.12.6 Preserve Copy of Filed Documents ...................................................................313 False/Incorrect Particulars ........................................................................................................313 Penalty on producing Incorrect/False Particulars .................................................................314 Central Registration Centre (CRC) of MCA to process Applications for Name approval ...........................................................................................................................314 2.15.1 CRC to process Applications for Reservation of Companies Names across India .........................................................................314 2.15.2 CRC for Company Incorporation w.e.f. 28th March 2016. ..............................315 2.15.3 MCA substitutes Form INC 11 to include CRC as issuing Authority ...............................................................................................................315 Practical FAQs.............................................................................................................................316

Chapter 3

Memorandum of Association & Alteration Thereof

Sections/Rules applicable to Memorandum of Association .................................................................321 Introduction of Memorandum of Association.........................................................................................322 Corresponding provisions of Companies Act, 1956 ...............................................................................322 Comparative study: 2013 Act â&#x20AC;&#x201C; 1956Act...................................................................................................323 Objective behind the law ............................................................................................................................327 3.1. Definition of Memorandum of Association ............................................................................327 3.2. Clauses of Memorandum of Association ................................................................................327 3.3. Name clause ................................................................................................................................328 3.3.1. Restriction on the name .......................................................................................328 3.3.2. Identical names.....................................................................................................329 xv

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3.3.3. 3.3.4. 3.3.5.

3.4.

3.5. 3.6. 3.7. 3.8. 3.9. 3.10.

3.11. 3.12. 3.13. 3.14.

3.15.

xvi

Undesirable names...............................................................................................330 Name used in other business constitutions ......................................................332 Name should not give impression that company is connected with government ...............................................................................332 3.3.6. Inclusion of words in Section 8 company .........................................................333 3.3.7. Names released on change of name shall be reserved for 3 years ....................................................................................................................334 3.3.8. Use of word â&#x20AC;&#x2DC;Commodity Exchangeâ&#x20AC;&#x2122; in the name of company ................................................................................................................334 3.3.9. Display of name of the company .......................................................................334 Registered office clause..............................................................................................................334 3.4.1. Registered office of company .............................................................................335 3.4.2. Documents to be attached with e-Form No. INC-22 .......................................335 3.4.3. Requirements of registered office of company ................................................335 3.4.4. Service of documents at registered office .........................................................336 Object Clause...............................................................................................................................336 Liability Clause ...........................................................................................................................337 Capital clause ..............................................................................................................................337 3.7.1. No requirements for minimum paid up capital ..............................................337 Clause to be void in Memorandum of Association ...............................................................337 Act to over-ride Memorandum of Association ......................................................................338 Formats of Memorandum of Association ...............................................................................338 3.10.1. For standard process ...........................................................................................338 3.10.2. For Integrated Process ........................................................................................339 3.10.3. For simplified process .........................................................................................339 Effect of registration of Memorandum of Association ..........................................................339 Binding nature of the Memorandum of Association .............................................................340 Alteration of Memorandum of Association ............................................................................340 Change in the name of company ..............................................................................................340 3.14.1. Convened board meeting....................................................................................340 3.14.2. Application to Registrar ......................................................................................340 3.14.3. Reservation of name ............................................................................................341 3.14.4. Convened general meeting .................................................................................341 3.14.5. Approval of central government .......................................................................341 3.14.6. Issue of new certificate by registrar ...................................................................341 3.14.7. Bar on change of name by defaulting companies ............................................341 3.14.8. Change of names during the last 2 years ..........................................................342 3.14.9. Effect of change of name .....................................................................................342 Rectification of name of company ............................................................................................342 3.15.1. By the order of central government ...................................................................342 3.15.2. Penalty for default ...............................................................................................343

Table of contents

3.16.

3.17. 3.18.

3.19. 3.20. 3.21. 3.22. 3.23.

Alteration of registered office clause .......................................................................................343 3.16.1. Change in situation of registered office ............................................................343 3.16.2. Change in registered office from one place to another place within the limits of the same city, town or village ................................344 3.16.3. Change in registered office of the company from one city to another city but within the same state under the same ROC ........................................................................................................................344 3.16.4. Registrar to that of another registrar within the same state ........................................................................................................................345 3.16.5. Change in registered office from one state to another state ........................................................................................................................348 Change in object clause ..............................................................................................................351 Alteration in the capital clause .................................................................................................353 3.18.1. Modes of alteration of share capital ..................................................................353 3.18.2. Notice to be given to registrar for alteration of share capital.....................................................................................................................354 3.18.3. Penalty in case of non-compliance.....................................................................355 Alteration in the liability clause................................................................................................355 Noting of alteration in Memorandum of Association on every copy .................................355 3.20.1. Penalty ...................................................................................................................355 Providing copies of Memorandum of Association to members ..........................................355 3.21.1. Penalty ...................................................................................................................356 Proposed new sections by Companies Bill, 2016 ...................................................................356 Practical FAQs.............................................................................................................................356

Chapter 4

Articles of Association and alteration thereof

Sections/rules applicable to Articles of Association ..............................................................................360 Introduction to AOA ...................................................................................................................................361 Corresponding provision of 1956 Act.......................................................................................................361 Comparison Between: 2013 Act & 1956 Act.............................................................................................361 Objective behind the law ............................................................................................................................362 4.1. Definition of Articles of Association (AOA) ...........................................................................363 4.2. Articles of Association shall state regarding ..........................................................................363 4.3. Contents of Articles of Association ..........................................................................................363 4.4. Provisions for entrenchment .....................................................................................................364 4.4.1. Meaning of entrenchment ...................................................................................364 4.4.2. Approval for provision of entrenchment..........................................................364 4.4.3. Notice to registrar ................................................................................................365 4.4.4. Which companies prefer entrenchment provision in AOA? .....................................................................................................................365 4.5. Formats of Articles of Association ...........................................................................................365 4.5.1. For standard process ...........................................................................................365 xvii

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4.6. 4.7.

4.8. 4.9. 4.10. 4.11. 4.12. 4.13. 4.14.

4.15. 4.16. 4.17. 4.18.

4.5.2. For simplified process .........................................................................................366 Adoption of regulations ............................................................................................................366 Articles of Association of companies registered under previous law .................................366 4.7.1. Modification not required ...................................................................................366 4.7.2. Section not applicable to companies registered under previous law .........................................................................................................366 Act to over-ride Articles of Association ..................................................................................367 Effect of registration of Articles of Association ......................................................................367 Binding nature of the Articles of Association .........................................................................367 Mandatory provision to be included in Articles of Association ..........................................368 Alteration of Articles of Association ........................................................................................372 Limitations and powers of the company to alter Articles of Association ..................................................................................................................................373 Alteration by special resolution ................................................................................................374 4.14.1. Conversion of private company into public company ...................................374 4.14.2. Conversion of public company into private company ...................................375 4.14.3. Conversion of a company limited by guarantee into a company limited by shares .................................................................................376 4.14.4. ROC filing of order of tribunal ...........................................................................377 4.14.5. Validity of alteration ............................................................................................377 Procedure to the alteration of Articles of Association ...........................................................377 Noting of the alteration in Articles of Association on every copy .......................................378 4.16.1. Penalty ...................................................................................................................378 Providing copies of Articles of Association to members ......................................................378 4.17.1. Penalty ...................................................................................................................378 Practical FAQs.............................................................................................................................379

Chapter 5

One Person Company

Sections applicable to one person company ............................................................................................382 Sections not applicable/partially applicable to one person company .................................................383 Introduction to one person company .......................................................................................................384 Corresponding provision of 1956 Act.......................................................................................................385 Comparative study: 2013Act â&#x20AC;&#x201C; 1956 Act...................................................................................................385 Objective behind the law ............................................................................................................................385 5.1. Meaning of OPC .........................................................................................................................386 5.2. Features of one person company ..............................................................................................386 5.2.1. Member of one person company â&#x20AC;&#x201C; The Companies (Incorporation) Rules, 2014 .................................................................................387 5.2.2. Types of one person company ...........................................................................387 5.2.3. Directors of one person company ......................................................................387 5.2.4. Status of a private limited company ..................................................................387 xviii

Table of contents

5.2.5.

5.3.

5.4.

5.5. 5.6.

Name of the OPC must include the last word as private limited ....................................................................................................................388 5.2.6. Meetings of one person company ......................................................................388 5.2.7. Financial statements of one person company ..................................................388 5.2.8. Restriction on one person company – the Companies (Incorporation) Rules, 2014 .................................................................................389 5.2.9. Cessation of one person company status ..........................................................389 Nomination related ....................................................................................................................389 5.3.1. Nominee of one person company – the Companies (Incorporation) Rules, 2014 .................................................................................389 5.3.2. Requirement to indicate name of other person nominated............................389 5.3.3. Withdrawal of nomination by the nominee .....................................................389 5.3.4. Filing of intimation for withdrawal of nominee and intimation of another nominee to the ROC ......................................................390 5.3.5. Change in the nominee by the member of OPC ..............................................390 5.3.6. Intimation on nominee becoming a member and requirement for him to appoint new nominee .................................................390 5.3.7. Change in the name of the person nominated in the MOA shall not be deemed to be an alteration in the MOA.......................................390 Practical procedures ...................................................................................................................391 5.4.1. Incorporation of OPC ..........................................................................................391 5.4.2. Conversion of OPC into public/private company ..........................................395 5.4.3. Conversion of private company into OPC, provided for by the Companies(Incorporation) Rules, 2014 .................................................395 Practical questions: .....................................................................................................................396 Other points.................................................................................................................................397 5.6.1. Advantages and disadvantages of LLP ............................................................397 5.6.1.1. Advantages ...........................................................................................................397 5.6.1.2. Disadvantages ......................................................................................................398 5.6.2. E-Forms to be filled with ROC for incorporation of OPC and its compliance ...............................................................................................399 5.6.3. Comparison of the business structures [Company v LLP v OPC] ...................................................................................................................399

Chapter 6

Foreign Company

Sections/rules applicable to foreign company ........................................................................................409 Introduction to foreign company ..............................................................................................................410 Corresponding provision of 1956 Act.......................................................................................................410 Comparative study: 2013 Act – 1956 Act..................................................................................................411 Objective behind the law ............................................................................................................................413 6.1. Meaning of foreign company ....................................................................................................413

xix

Company Law Ready Reckoner

6.2.

6.3. 6.4.

6.5.

6.6. 6.7. 6.8.

6.9. 6.10.

6.11.

6.12. 6.13. 6.14.

Modes of entry for foreign residents desiring to setup business in India..............................................................................................................................................414 6.2.1. Company under the provisions of Companies Act .........................................414 6.2.2. LLP under Limited Liability Partnership Act, 2008 ........................................415 6.2.3. Place of business under Companies Act with the permission of RBI .................................................................................................415 Application of this Act to foreign companies .........................................................................416 Documents required for registration of foreign company ....................................................416 6.4.1. New foreign company to be incorporated........................................................416 6.4.2. Foreign companies existing before commencement of Companies Act, 2013 ...........................................................................................417 6.4.3. Alteration in particulars of foreign company...................................................418 6.4.4. Action for improper use or description as foreign company ................................................................................................................418 Accounts of foreign company ...................................................................................................418 6.5.1. Preparation of financial statements ...................................................................418 6.5.2. Attachments to financial statements .................................................................419 6.5.3. Filing of documents with the registrar of companies .....................................420 6.5.4. Audit of financial statements of foreign company ..........................................420 6.5.5. Place of business in india ....................................................................................420 Display of name of foreign company ......................................................................................421 Service of notice on foreign company ......................................................................................421 Debentures, annual return, registration of charges, books of account and their inspection ....................................................................................................................421 6.8.1. Debentures ............................................................................................................421 6.8.2. Annual return .......................................................................................................421 6.8.3. Books of accounts .................................................................................................422 6.8.4. Registration of charges ........................................................................................422 6.8.5. Inspection, inquiry and investigation ...............................................................422 Fees for registration of documents ...........................................................................................422 Interpretation of documents .....................................................................................................423 6.10.1. Certification ..........................................................................................................423 6.10.2. Authentication of translated documents ..........................................................424 Dating of prospectus and particulars to be contained...........................................................425 6.11.1. Non-applicability of section 387 ........................................................................425 6.11.2. Liabilities ...............................................................................................................426 Provisions as to expertâ&#x20AC;&#x2122;s consent and allotment ....................................................................426 Registration of prospectus by foreign company ....................................................................426 Indian Depository Receipt.........................................................................................................427 6.14.1. Issue of Indian Depository Receipt ....................................................................427 6.14.2. Restrictions on issue of Indian Depository Receipt .........................................428

Table of contents

6.14.3. 6.14.4. 6.14.5.

6.15. 6.16. 6.17. 6.18.

Procedure for Issue of Indian Depository Receipt...........................................428 Responsibility of merchant banker ....................................................................429 Issuance of application form with memorandum containing the salient features of prospectus in the specified form .......................................................................................................430 6.14.6. Transfer/redemption of Indian Depository Receipts .....................................431 6.14.7. Repatriation of proceeds of the Indian Depository Receipts..................................................................................................................431 6.14.8. Contents of prospectus ........................................................................................432 Application of sections 34 to 36 and winding up ...................................................................435 Punishment for contravention ..................................................................................................436 Company's failure to comply with provisions of Chapter XXII not to affect validity of contracts, etc. .................................................................................................436 Merger or amalgamation of a company with a foreign company .......................................436

Chapter 7

Government Company

Chapter 8

Nidhi Company

Sections applicable to Government Company ........................................................................................439 Sections Not Applicable/Partially Applicable to Government Company ..........................................440 Introduction to Government Company ...................................................................................................445 Corresponding provisions of 1956 Act .....................................................................................................445 Comparative study: 2013 Act -1956 Act ...................................................................................................445 Objective behind the law ............................................................................................................................445 7.1. Meaning of Government Company .........................................................................................446 7.2. Provisions related to Government Company .........................................................................446 7.2.1. Auditor appointment related .............................................................................446 7.2.2. Audit report related .............................................................................................447 7.2.3. Filing of the copy of the company liquidator's accounts with the tribunal, ROC and the government ...................................................448 7.2.4. Information as to pending liquidations ............................................................448 7.2.5. Annual report of a Government Company ......................................................449 Sections applicable to Nidhi Company ....................................................................................................452 Sections not applicable/partially applicable to Nidhi company ..........................................................452 Introduction to Nidhi company ................................................................................................................454 Corresponding provision of 1956 Act.......................................................................................................454 Comparative study: 2013-1956 ..................................................................................................................455 Objective behind the law ............................................................................................................................455 8.1. Meaning of Nidhi company ......................................................................................................456 8.2. Other definitions given in the Nidhi Rules, 2014 ...................................................................456 8.3. Nidhi Rules, 2014 ........................................................................................................................457 8.3.1. Applicability of the rules ....................................................................................457 xxi

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8.3.2. 8.3.3. 8.3.4. 8.3.5. 8.3.6. 8.3.7. 8.3.8. 8.3.9. 8.3.10. 8.3.11. 8.3.12. 8.3.13. 8.3.14. 8.3.15. 8.3.16. 8.3.17. 8.3.18.

Incorporation related matters.............................................................................458 Requirement after incorporation .......................................................................458 General restrictions on Nidhis ...........................................................................459 Share capital and allotment ................................................................................460 Membership in Nidhi company .........................................................................460 Net owned funds..................................................................................................460 Branches ................................................................................................................460 Acceptance of deposits ........................................................................................461 Loans & rate of interest .......................................................................................463 Director ..................................................................................................................464 Dividend................................................................................................................464 Auditor ..................................................................................................................464 Prudential norms .................................................................................................465 Power to enforce compliance .............................................................................466 Statutory Compliances ........................................................................................467 Penalty for non-compliance ................................................................................467 Application form for deposits ............................................................................467

Chapter 9

Insolvency & Bankruptcy code on Companies Act, 2013

Chapter 10

Incorporation of Companies with Charitable Objects

Introduction to Insolvency and Bankruptcy Code (IBC), 2016 .............................................................471 Effect on Companies Act, 2013 ..................................................................................................................472 Highlights of effect of IBC, 2016 ................................................................................................................472 Comparison between sections of the CA, 2013 after IBC, 2016 notified ..............................................475 Sections applicable to companies with charitable objects ......................................................................512 Sections not applicable/partially applicable to companies with charitable objects ...........................................................................................................................................512 Introduction to section 8 companies .........................................................................................................515 Corresponding provision of 1956 Act.......................................................................................................515 Comparative Study: 2013 Act â&#x20AC;&#x201C; 1956 Act .................................................................................................515 Objective behind the law ............................................................................................................................516 10.1. Meaning of non-profit company ..............................................................................................516 10.2. Statutory provisions related to non-profit making company...............................................517 10.2.1. Delegation of powers of central government ...................................................517 10.2.2. Who can/cannot form section â&#x20AC;&#x201C; 8 company? ...................................................517 10.2.3. Issuance of license by the central government.................................................517 10.2.4. Privileges of section-8 company ........................................................................517 10.2.5. Firm as a member of Non-Profit making Company .......................................518 10.2.6. No change in MOA & AOA................................................................................518 10.2.7. Revocation of license by central government...................................................518 10.2.8. Winding up/amalgamation of company..........................................................518 xxii

Table of contents

10.2.9.

10.3.

10.4. 10.5.

10.6. 10.7.

Amalgamation by the central government in the public interest ...................................................................................................................518 10.2.10. Treatment of surplus of assets............................................................................519 10.2.11. Clarification regarding amount deposited by director for election u/s 160 ....................................................................................................519 10.2.12. Annual filling of section – 8 company...............................................................519 10.2.13. Penalty ...................................................................................................................520 Practical procedures ...................................................................................................................520 10.3.1. Procedure for registration of non-profit making company (Rule 19).................................................................................................................520 10.3.2. Procedure for registration of existing company as nonprofit company (Rule 20) ...................................................................................522 10.3.3. Conversion of a company registered under section 8 into a company of any other kind (Rule 21 & 22) ....................................................524 Other conditions to be complied (Rule 22) .............................................................................524 e-Forms to be filed at ROC ........................................................................................................527 10.5.1. e-forms to be filled with registrar/regional director ......................................527 10.5.2. Formats provided by MCA.................................................................................531 Difference between trust, society and section – 8 company .................................................532 Practical FAQs.............................................................................................................................534

Chapter 11

Types of Prospectus

Sections/rules applicable to types of prospectus ...................................................................................539 Introduction to prospectus .........................................................................................................................540 Corresponding provisions of 1956 Act .....................................................................................................540 Comparative study: 2013 Act – 1956 Act..................................................................................................541 Objective behind the law ............................................................................................................................546 11.1. Definitions ...................................................................................................................................546 11.1.1. Prospectus .............................................................................................................546 11.1.2. Abridged prospectus ...........................................................................................547 11.2. Contents of the prospectus ........................................................................................................547 11.2.1. Names and addresses ..........................................................................................547 11.2.2. Opening and closing of the issue .......................................................................548 11.2.3. Utilization of monies out of previous issue ......................................................548 11.2.4. Underwriting of the issue ...................................................................................548 11.2.5. Consent ..................................................................................................................549 11.2.6. Authority for the issue ........................................................................................549 11.2.7. Procedure and time schedule .............................................................................549 11.2.8. Capital structure ...................................................................................................549 11.2.9. Main objects of public offer ................................................................................550 11.2.10. Project details ........................................................................................................550 11.2.11. Litigation or legal action .....................................................................................551 xxiii

Company Law Ready Reckoner

11.3. 11.4. 11.5. 11.6. 11.7. 11.8. 11.9. 11.10. 11.11. 11.12.

11.2.12. Minimum subscription ........................................................................................551 11.2.13. Details of directors ...............................................................................................551 11.2.14. Sources of promoterâ&#x20AC;&#x2122;s contribution ...................................................................552 11.2.15. Reports to be set out in the prospectus .............................................................552 11.2.16. Declaration about compliances ..........................................................................554 11.2.17. Other matters ........................................................................................................554 11.2.18. Nothing in section 26(1) shall apply to .............................................................557 11.2.19. Company incorporated less than 5 years..........................................................557 11.2.20. Statement by experts............................................................................................558 11.2.21. Dating & signing and registration of prospectus ............................................558 11.2.22. Penalty for non- compliance of Section 26 ........................................................558 Variation in terms of contract or objects in prospectus .........................................................559 Deemed prospectus ....................................................................................................................560 Offer of sale of shares by certain members of a company ....................................................561 Dematerialization of securities .................................................................................................562 Advertisement of prospectus ....................................................................................................562 Shelf prospectus ..........................................................................................................................562 Red herring prospectus..............................................................................................................563 Abridged prospectus..................................................................................................................564 Allotment of securities ...............................................................................................................564 11.11.1. Attachments to PAS - 3........................................................................................565 Liability for mis-statements ......................................................................................................566 11.12.1. Criminal liability ..................................................................................................566 11.12.2. Civil liability .........................................................................................................566 11.12.3. Punishment for fraudulently inducing persons to invest money ....................................................................................................................567 11.12.4. Liabilities for making an application in a fictitious name ..............................567 11.12.5. Class action suits ..................................................................................................568

Chapter 12

Listing of Securities

Sections/rules applicable to listing of securities .....................................................................................569 Introduction to private placement ............................................................................................................570 Corresponding provision of 1956 Act.......................................................................................................570 Comparative study: 2013 Act â&#x20AC;&#x201C; 1956Act...................................................................................................570 Objective behind the law ............................................................................................................................571 12.1. Issue of securities ........................................................................................................................571 12.2. Securities to be dealt with in stock exchanges ........................................................................572 12.3. Steps involved in a public issue of securities..........................................................................574 12.4. Global depository receipt ..........................................................................................................580 12.4.1. Conditions for issue of depository receipts. .....................................................580 12.4.2. Manner and form of depository receipts ..........................................................580 xxiv

Table of contents

12.4.3. 12.4.4. 12.4.5. 12.4.6.

Voting rights .........................................................................................................581 Proceeds of issue ..................................................................................................581 Depository receipts prior to commencement ...................................................581 Non-applicability of certain provisions of the Act ..........................................581

Chapter 13

Private Placement

Chapter 14

Kinds of Share Capital & Voting Rights

Chapter 15

Nomination

Sections/rules applicable to private placement..........................................................................................583 Introduction to private placement ...............................................................................................................583 Corresponding provision of 1956 Act.......................................................................................................584 Comparative study: 2013 Act– 1956 Act...................................................................................................584 Objective behind the law ..............................................................................................................................586 13.1 Issue of securities ........................................................................................................................586 13.2 Private placement .......................................................................................................................587 13.3 Issue of shares on preferential basis.........................................................................................591 13.4 Difference between private placement & preferential allotment .........................................595

Sections/rules applicable to kinds of share capital ................................................................................600 Introduction to share capital ......................................................................................................................600 Corresponding provisions of 1956 Act .....................................................................................................600 Comparative study: 2013 Act– 1956 Act...................................................................................................601 Objective behind the law ............................................................................................................................603 14.1. Meaning of shares ......................................................................................................................603 14.2. Kinds of share capital .................................................................................................................603 14.2.1. Use of word “Capital” in different meanings ..................................................604 14.2.2. Equity share capital .............................................................................................605 14.2.3. Preference share capital.......................................................................................605 14.3. Voting rights................................................................................................................................606 14.3.1. Equity share capital .............................................................................................606 14.3.2. Preference share capital.......................................................................................606 14.4. Equity shares with differential rights ......................................................................................607 14.5. Variation of shareholder’s rights ..............................................................................................610 14.6. Shares & shares certificate .........................................................................................................611 14.7. Issue of renewed or duplicate share certificate ......................................................................614 14.7.1. Renewed share certificate ...................................................................................614 14.7.2. Duplicate share certificate...................................................................................615 14.7.3. Register for renewed and duplicate share certificate ......................................616 Sections/rules applicable to nomination .................................................................................................618 Introduction to nomination ........................................................................................................................618 xxv

Company Law Ready Reckoner

Corresponding provision of 1956 Act.......................................................................................................618 Comparative study: 2013 Act â&#x20AC;&#x201C; 1956 Act..................................................................................................618 Objective behind the law ............................................................................................................................618 15.1. Nomination and its advantages................................................................................................619 15.2. Who can appoint a nominee?....................................................................................................619 15.3. Power to nominate .....................................................................................................................619 15.4. Who can be a nominee? .............................................................................................................619 15.5. Procedure for nomination .........................................................................................................620 15.6. Death of holder of shares/ debentures....................................................................................620 15.7. Transmission of shares in favor of nominee ...........................................................................621 15.8. Fresh nomination by the surviving joint holder(s) ................................................................621 15.9. Cancellation/variation of nomination .....................................................................................622 15.10. Minor nominee............................................................................................................................622 15.11. Nomination by holder of partly paid up shares or debentures ...........................................622 15.12. Nomination for shares held in dematerialized form .............................................................622 15.13. Further acquisitions of shares under a given folio get covered by the nomination ..................................................................................................................................623 15.14. Nominee dies before the holder ...............................................................................................623

Chapter 16

Issuance of share capital

Sections/Rules applicable to issuance of share capital ..........................................................................626 Introduction to share capital ......................................................................................................................627 Corresponding provisions of 1956 Act .....................................................................................................627 Comparative study: 2013 Act -1956 Act ...................................................................................................628 Objective behind the law ............................................................................................................................632 16.1. Calls on shares ............................................................................................................................632 16.1.1. Calls on shares of same class to be made on uniform basis ...........................632 16.1.2. Payment of calls in advance ...............................................................................633 16.1.3. Rules for making calls .........................................................................................633 16.2. Forfeiture of shares .....................................................................................................................633 16.3. Issuance of shares at a premium ..............................................................................................634 16.4. Prohibition on issue of shares at discount...............................................................................635 16.5. Sweat equity shares ....................................................................................................................636 16.5.1. Meaning of sweat equity shares .........................................................................636 16.5.2. Conditions for issuing sweat equity shares ......................................................636 16.5.3. Procedure to issue sweat equity shares for unlisted companies .............................................................................................................637 16.6. Issue and redemption of preference shares ............................................................................640 16.6.1. Issue of preference shares ...................................................................................640 16.6.2. Issue of preference shares in infrastructural projects......................................642 16.6.3. Other conditions ...................................................................................................642 xxvi

Table of contents

16.6.4.

16.7.

16.8. 16.9. 16.10.

16.11. 16.12. 16.13.

Where company made default in redemption or payment of dividend ............................................................................................................643 16.6.5. Utilization of CRR ................................................................................................643 Transfer and transmission of securities ...................................................................................643 16.7.1. Transfer of securities............................................................................................643 16.7.2. Punishment for personation of shareholder.....................................................645 16.7.3. Refusal of registration and appeal against refusal ..........................................646 Rectification of register of members ........................................................................................647 Publication of authorized, subscribed and paid-up capital ..................................................648 Further issue of share capital ....................................................................................................649 16.10.1. Issue of employee stock option plan (ESOP)....................................................649 16.10.2. Issue of right (preferential basis) shares ...........................................................653 Conversion of debenture/loans into shares ...........................................................................655 Issue of bonus shares .................................................................................................................656 Unlimited company to provide for reserve share capital on conversion into limited company .................................................................................................................657

Chapter 17

Reduction/buy back of share capital

Chapter 18

Debentures

Sections/Rules applicable to buyback of shares .....................................................................................660 Introduction to reduction/buyback of share capital ..............................................................................660 Corresponding provisions of 1956 Act .....................................................................................................661 Comparative study: 2013 Act-1956 Act ....................................................................................................661 Objective behind the law ............................................................................................................................662 17.1. Funding sources for buy-back of shares ..................................................................................662 17.2. Purposes for buyback.................................................................................................................663 17.3. Manner of buyback of shares ....................................................................................................663 17.4. Prohibition for buy-back in certain circumstances ................................................................663 17.5. Preliminary conditions for buyback ........................................................................................664 17.6. Buy-back procedure for unlisted companies ..........................................................................665 17.7. Penalty .........................................................................................................................................670 17.8. Reduction of share capital .........................................................................................................670 17.8.1. Power of the company for reduction of share capital .....................................670 17.8.2. Modes of reduction of share capital ..................................................................670 17.8.3. Procedural aspects ...............................................................................................671 17.8.4. Other provisions...................................................................................................675 17.8.5. Penalty ...................................................................................................................676 17.9. Restrictions on purchase by company or giving of loans by it for purchase of its shares .................................................................................................................676 Sections/rules applicable to debentures ..................................................................................................680 Introduction .................................................................................................................................................680 xxvii

Company Law Ready Reckoner

Corresponding provision of 1956 Act.......................................................................................................681 Comparative study: 2013 Act -1956 Act ...................................................................................................681 Objective behind the law ............................................................................................................................682 18.1. Meaning of debentures ..............................................................................................................682 18.2. Regulatory framework for debentures ....................................................................................684 18.3. Issue of debenture and voting rights .......................................................................................685 18.4. Issue of secured debentures ......................................................................................................685 18.4.1. Terms and conditions for issue ..........................................................................685 18.5. Debenture redemption account ................................................................................................686 18.5.1. Terms and conditions for debenture redemption reserve ..............................687 18.6. Appointment of debenture trustee...........................................................................................688 18.6.1. Procedure for appointment of debenture trustee ............................................688 18.6.2. Duty of the debenture trustee ............................................................................689 18.7. Meeting of debenture holders...................................................................................................690 18.8. Trust deed ....................................................................................................................................691 18.8.1. Inspection of trust deed.......................................................................................691 18.8.2. Void trust deed .....................................................................................................691 18.9. Repayment of debentures..........................................................................................................691 18.10. Application to tribunal ..............................................................................................................692 18.11. Penalty .........................................................................................................................................692 18.12. Register and index of debenture holders ................................................................................692 18.13. Other provisions .........................................................................................................................694 18.13.1. Contract enforced by decree ...............................................................................694 18.13.2. Rules shall not be applicable to ..........................................................................694 18.13.3. Duty to Register charges on secured debentures ............................................694 18.13.4. Allotment of debenture certificate .....................................................................694 18.13.5. Obtain copies of annual accounts ......................................................................694 18.14. Procedure to issue debentures under the Companies Act, 2013 ..........................................694

Chapter 19

Invitation and Acceptance of Deposits by Companies

Sections/rules applicable to deposits .......................................................................................................700 Introduction to deposits .............................................................................................................................700 Corresponding provision of 1956 Act.......................................................................................................701 Comparative study: 2013 Act â&#x20AC;&#x201C; 1956 Act..................................................................................................701 Objective behind the law ............................................................................................................................704 19.1. Definitions ...................................................................................................................................705 19.1.1. Deposits .................................................................................................................705 19.1.2. Depositor ...............................................................................................................705 19.2. Exclusions from deposits ...........................................................................................................706 19.2.1. Central government/state government/local authority ................................706 19.2.2. Foreign governments/foreign body corporates ..............................................706 xxviii

Table of contents

19.2.3. 19.2.4. 19.2.5. 19.2.6. 19.2.7. 19.2.8. 19.2.9. 19.2.10. 19.2.11. 19.2.12. 19.2.13. 19.2.14. 19.2.15. 19.2.16. 19.2.17. 19.2.18. 19.3.

19.4.

19.5.

19.6.

Loan or facility from bank or financial institutions .........................................707 Issuing commercial paper ...................................................................................707 Inter-corporate loans ...........................................................................................707 Share application money.....................................................................................707 Directors/relatives of director ...........................................................................708 Issuing secured bonds and debentures .............................................................708 Non-convertible debenture .................................................................................708 Security deposit from employee ........................................................................709 Non-interest bearing amount received in trust................................................709 Ordinary course of business ...............................................................................709 Promoters by way of unsecured loans ..............................................................710 Nidhi company.....................................................................................................710 Subscription in chit fund .....................................................................................710 Collective investment scheme ............................................................................710 Startup company ..................................................................................................711 Alternate investment funds/domestic venture capital funds/mutual funds ............................................................................................711 Acceptance of deposits ..............................................................................................................711 19.3.1. Permitted companies for acceptance of deposit ..............................................711 19.3.2. Eligible public companies for acceptance of deposit ......................................711 19.3.3. Exemption to private company ..........................................................................712 19.3.4. Non-eligible companies ......................................................................................712 Terms and conditions of acceptance of deposits ....................................................................713 19.4.1. Term of deposit ....................................................................................................713 19.4.2. Limit of deposits...................................................................................................713 19.4.3. Joint names ............................................................................................................713 19.4.4. Rate of interest ......................................................................................................714 19.4.5. Change in terms after circular issued ................................................................714 19.4.6. Credit rating..........................................................................................................714 Form and particulars of advertisement or circulars ..............................................................715 19.5.1. Non-eligible company .........................................................................................715 19.5.2. Eligible company..................................................................................................715 19.5.3. Place a copy on the website ................................................................................715 19.5.4. Board approval required .....................................................................................715 19.5.5. Filling of circular at ROC ....................................................................................715 19.5.6. Validity of the circulars/advertisement ...........................................................715 Deposit insurance .......................................................................................................................716 19.6.1. Time period for entering into contract ..............................................................716 19.6.2. Minimum insured amount .................................................................................717 19.6.3. Cost to be borne by the company ......................................................................717 19.6.4. Default in compliance of deposit insurance .....................................................717 xxix

Company Law Ready Reckoner

19.7. 19.8.

19.9. 19.10. 19.11. 19.12. 19.13. 19.14.

19.15.

19.16.

19.17. 19.18. 19.19.

19.20. 19.21. 19.22. 19.23. 19.24.

xxx

Creation of security ....................................................................................................................717 Trustees of depositors ................................................................................................................718 19.8.1. Appointment of trustees .....................................................................................718 19.8.2. Execution of trust deed .......................................................................................719 19.8.3. Restriction on appointment ................................................................................719 19.8.4. Removal of trustee ...............................................................................................719 19.8.5. Duties of trustees..................................................................................................719 19.8.6. Meeting of depositors ..........................................................................................720 Form of application for deposits ..............................................................................................720 Appoint nominee ........................................................................................................................720 Furnishing of deposit receipts to depositors ..........................................................................720 Maintenance of liquid assets and creation of deposit repayment reserve account ...........................................................................................................................721 Register of deposits ....................................................................................................................721 General provisions regarding deposits ...................................................................................722 19.14.1. premature repayment of deposits......................................................................722 19.14.2. Filling of return of deposits to registrar ............................................................723 19.14.3. Penal rate of interest ............................................................................................723 19.14.4. Power of central government to decide certain questions .............................723 19.14.5. Applicability of sections 73, 74 and 75 to eligible companies .............................................................................................................723 Deposit accepted before the Companies Act, 2013 ................................................................724 19.15.1. Time period for filing statement and repayment ............................................724 19.15.2. Extension of time limit for repayment of deposits ..........................................724 19.15.3. Penalty for failure to repay deposit ...................................................................724 Penalties .......................................................................................................................................725 19.16.1. Damages for fraud ...............................................................................................725 19.16.2. Punishment for contravention of section 73 or section 76 ..............................725 19.16.3. Penalty for contravention ...................................................................................726 Certification required .................................................................................................................726 Default in repayment of deposit or interest by a company ..................................................726 Disclosure of particulars of deposits ........................................................................................727 19.19.1. In the boardsâ&#x20AC;&#x2122; report ............................................................................................727 19.19.2. In the financial statements ..................................................................................727 Class action suit by depositors .................................................................................................728 Eligible company v/s non-eligible company .........................................................................728 Practical procedure to acceptance of deposits from members .............................................730 Practical FAQs.............................................................................................................................732 Companies Bill, 2016 ..................................................................................................................734

Table of contents

Chapter 20

Registration of Charges

Sections applicable to registration of charges..........................................................................................736 Introduction to charges...............................................................................................................................737 Corresponding provision of 1956 Act.......................................................................................................737 Comparative study: 2013 Act â&#x20AC;&#x201C; 1956 Act..................................................................................................738 Objective behind the law ............................................................................................................................740 20.1. Definition of charge ....................................................................................................................740 20.2. Types of charges .........................................................................................................................741 20.3. Registration/creation of charges ..............................................................................................741 20.3.1. Charges requiring registration ...........................................................................741 20.3.2. Mandatory registration for charges ...................................................................742 20.3.3. Particulars of charges ..........................................................................................743 20.3.4. Verification of instrument ...................................................................................743 20.3.5. Certificate of registration ....................................................................................743 20.3.6. Consequences of non-filing/registration of charges .......................................744 20.3.7. Application for registration of charge ...............................................................744 20.3.8. Date of notice of charge .......................................................................................744 20.4. Modification of charges .............................................................................................................745 20.4.1. Applicability of provision relating to modification of charge.....................................................................................................................745 20.4.2. Reasons for modification of charges..................................................................745 20.4.3. Verification of instrument evidencing creation of charge ..............................745 20.4.4. Certificate of registration ....................................................................................745 20.5. Satisfaction of charges ................................................................................................................745 20.5.1. On Application by company ..............................................................................745 20.5.2. Suo-Motu by the registrar ...................................................................................746 20.6. Register of charges .....................................................................................................................746 20.6.1. Register of charges maintained by ROC (Section 81) ......................................746 20.6.2. Register of charges maintained by company (Section 85) ..............................747 20.7. Appointment or cessation of receiver or manager.................................................................747 20.8. Rectification by central government in register of charges ..................................................747 20.9. Penalty/punishment for contravention ..................................................................................748 20.10. e-forms to be filled at ROC ........................................................................................................749 20.10.1. e-forms to be filled with registrar/regional director ......................................749 20.10.2. Formats provided by MCA.................................................................................750 20.11. Practical procedures ...................................................................................................................751 20.11.1. Procedure for creation/modification of charge ...............................................751 20.11.2. Procedure for satisfaction of charge ..................................................................752 20.11.3. Procedure for application to central government for rectification of register of charges ......................................................................752 20.12. Practical questions ......................................................................................................................753 xxxi

Company Law Ready Reckoner

Chapter 21

Sections/rules applicable to register of members and annual return ..................................................756 Introduction .................................................................................................................................................757 Corresponding provisions of 1956 Act .....................................................................................................757 Comparative study: 2013 Act-1956 Act ....................................................................................................758 Objective behind the law ............................................................................................................................760 21.1. Register of members ...................................................................................................................760 21.1.1. Company not having share capital ....................................................................760 21.1.2. Debenture holders................................................................................................761 21.1.3. Maintenance of the register of members etc. ....................................................761 21.1.4. Indexing of names ................................................................................................762 21.1.5. Deemed register ...................................................................................................763 21.1.6. Register of foreign members...............................................................................763 21.1.7. Authentication of register ...................................................................................764 21.1.8. Penalty ...................................................................................................................764 21.2. Declaration in respect of beneficial interest in any share......................................................765 21.2.1. Filing of declaration with company ..................................................................765 21.2.2. Filing of declaration with registrar ....................................................................765 21.2.3. Other ......................................................................................................................765 21.2.4. Penalty ...................................................................................................................766 21.2.5. Investigation of beneficial ownership of shares in certain cases .......................................................................................................................766 21.2.6. Exemption to government company .................................................................767 21.3. Power to close register of members or debenture holders or other security holders...........................................................................................................................767 21.4. Annual return .............................................................................................................................768 21.4.1. Signing and certification of annual return ........................................................769 21.4.2. Extract of annual return ......................................................................................769 21.4.3. Time period for filing annual return with registrar ........................................770 21.4.4. Penalty ...................................................................................................................770 21.5. Filing of return in case of change in promoterâ&#x20AC;&#x2122;s stake ..........................................................771 21.6. Guideline for filing e-Form No. MGT â&#x20AC;&#x201C; 7 ................................................................................771 21.7. Place of keeping and inspection of register and returns .......................................................774 21.7.1. Place of keeping register and returns ................................................................774 21.7.2. Preservation of register and returns ..................................................................775 21.8. Inspection of register and returns ............................................................................................775 21.8.1. Inspection ..............................................................................................................775 21.8.2. Extraction ..............................................................................................................775 21.8.3. Penalty on refusal to inspection or extraction ..................................................776 21.8.4. Order by central government .............................................................................776

xxxii

Table of contents

21.9. 21.10.

Register to be evidence ..............................................................................................................776 General penalty ...........................................................................................................................777

Chapter 22

Annual General Meeting and Extra-Ordinary General Meeting and their related Points

Sections/rules applicable to types of meetings .......................................................................................782 Introduction to types of meetings .............................................................................................................784 Corresponding provisions of 1956 Act .....................................................................................................784 Comparative Study: 2013 Act â&#x20AC;&#x201C; 1956 Act .................................................................................................786 Objective behind the law ............................................................................................................................792 22.1. Authority for convening general meetings .............................................................................792 22.1.1. Annual general meeting ......................................................................................792 22.1.2. Extra-ordinary general meeting .........................................................................793 22.1.3. Calling meeting on requisition ...........................................................................793 22.2. Power of tribunal to call general meetings .............................................................................794 22.2.1. Annual general meeting ......................................................................................794 22.2.2. Extra-ordinary general meeting .........................................................................795 22.3. Frequency of annual general meeting .....................................................................................795 22.4. Ordinary and special resolution ...............................................................................................795 22.5. Resolution requiring special notice ..........................................................................................796 22.6. Notice for general meeting ........................................................................................................797 22.6.1. Notice for general meeting shall be Sent to ......................................................797 22.6.2. How notice should be sent .................................................................................798 22.6.3. Procedure for notice by e-mail ...........................................................................799 22.6.4. Notice shall contain following ...........................................................................800 22.6.5. At least 21 daysâ&#x20AC;&#x2122; clear notice period ..................................................................801 22.6.6. Notice for shorter time period ............................................................................801 22.6.7. Agenda of notice ..................................................................................................801 22.6.8. Statements to be annexed with notice ...............................................................802 22.6.9. If notice is not in accordance with this standard .............................................804 22.6.10. No items of business other than those specified in notice ..............................804 22.6.11. Attachments to notice ..........................................................................................804 22.6.12. If meeting cannot be held ....................................................................................805 22.7. Quorum for the general meeting ..............................................................................................805 22.7.1. Quorum for public company and private company .......................................805 22.7.2. Quorum for body corporate ...............................................................................806 22.7.3. Quorum is not present ........................................................................................807 22.8. Presence of directors and auditors ...........................................................................................807 22.8.1. Directors & chairman ..........................................................................................807 22.8.2. Statutory auditors ................................................................................................808 22.8.3. Secretarial auditor ................................................................................................808 xxxiii

Company Law Ready Reckoner

22.9.

22.10.

22.11.

22.12.

22.13.

22.14.

22.15.

22.16. xxxiv

Chairman .....................................................................................................................................808 22.9.1. Appointment ........................................................................................................808 22.9.2. Duties of chairman ...............................................................................................809 Proxies ..........................................................................................................................................809 22.10.1. Right to appoint ...................................................................................................809 22.10.2. Statement of proxy in notice ...............................................................................810 22.10.3. Instrument of proxy .............................................................................................810 22.10.4. Execution of proxies ............................................................................................810 22.10.5. Proxies in blank and incomplete proxies ..........................................................810 22.10.6. Deposit of proxies ................................................................................................811 22.10.7. Revocation of proxies ..........................................................................................811 22.10.8. Inspection of proxies............................................................................................811 22.10.9. Record of proxies .................................................................................................812 Voting ...........................................................................................................................................812 22.11.1. Voting rights .........................................................................................................812 22.11.2. Restriction on voting rights ................................................................................812 22.11.3. Second or casting vote .........................................................................................812 22.11.4. E-voting .................................................................................................................813 22.11.5. Voting at the meeting ..........................................................................................813 22.11.6. Show of hands ......................................................................................................813 22.11.7. Poll .........................................................................................................................813 Conduct of e-voting ...................................................................................................................814 22.12.1. Board approval .....................................................................................................814 22.12.2. Notice .....................................................................................................................814 22.12.3. Appointment of scrutinizer ................................................................................816 22.12.4. Duties of scrutinizer ............................................................................................816 22.12.5. Declaration of results ...........................................................................................817 22.12.6. Custody of scrutinizersâ&#x20AC;&#x2122; register, report and other related papers ....................................................................................................................818 Conduct of poll ...........................................................................................................................818 22.13.1. Appointment of scrutinizers...............................................................................818 22.13.2. Duties of scrutinizer ............................................................................................819 22.13.3. Declaration of results ...........................................................................................820 Passing of resolutions by postal ballot ....................................................................................820 22.14.1. Procedure to be followed for conducting business through postal ballot ...........................................................................................821 Withdrawal/rescinding/modification of resolution .............................................................823 22.15.1. Prohibition on withdrawal of resolutions ........................................................823 22.15.2. Rescinding of resolutions ....................................................................................823 22.15.3. Modifications to resolutions ...............................................................................823 Reading of reports ......................................................................................................................824

Table of contents

22.17. 22.18. 22.19.

22.20.

22.21. 22.22. 22.23. 22.24. 22.25.

22.26.

Distribution of gifts ....................................................................................................................824 Adjournment of meetings .........................................................................................................824 Minute book ................................................................................................................................825 22.19.1. Maintenance of minutes ......................................................................................825 22.19.2. Contents of minutes .............................................................................................826 22.19.3. Recording of minutes ..........................................................................................827 22.19.4. Entry in the minutes book...................................................................................828 22.19.5. Signing and dating of minutes ...........................................................................828 22.19.6. Inspection and extracts of minutes ....................................................................828 Report on annual general meeting ...........................................................................................829 22.20.1. Contents of reports on annual general meeting...............................................829 22.20.2. Penalty ...................................................................................................................830 Circulation on memberâ&#x20AC;&#x2122;s resolution (Section 111) .................................................................830 Representation of corporations at meeting of companies and creditors (Section 113) ................................................................................................................................831 Resolutions and agreements to be filed (Section 117) ...........................................................832 Applicability of this Chapter to one person company ..........................................................833 Penalty .........................................................................................................................................834 22.25.1. Punishment for Complying with Section 96, 97 & 98 .....................................834 22.25.2. General Penalty ....................................................................................................834 Practical FAQs.............................................................................................................................834

Chapter 23

Dividend

Sections applicable to dividend .................................................................................................................838 Introduction to dividend ............................................................................................................................839 Corresponding provision of 1956 Act.......................................................................................................839 Comparative study: 1956 Act â&#x20AC;&#x201C; 2013 Act..................................................................................................840 Objective behind the law ............................................................................................................................841 23.1. Meaning of dividend..................................................................................................................842 23.2. Types of dividend.......................................................................................................................842 23.3. Declaration of dividend .............................................................................................................843 23.3.1. Source for Payment of dividend ........................................................................843 23.3.2. Dividend declared out of reserves .....................................................................844 23.3.3. Manner of depreciation .......................................................................................845 23.3.4. Deposit of amount of dividend ..........................................................................845 23.3.5. Entitlement to dividend ......................................................................................845 23.3.6. Restriction on payment of dividend ..................................................................846 23.4. Unpaid dividend account ..........................................................................................................846 23.5. Investor Education and Protection Fund ................................................................................848 23.6. Right of members pending registration of transfer/dividend in abeyance ......................................................................................................................................850 23.7. Punishment for failure to distribute dividends ......................................................................850 xxxv

Company Law Ready Reckoner

23.8.

23.9.

23.10. 23.11.

Other sections..............................................................................................................................851 23.8.1. Payment of dividend in proportion to the time and amount paid (Section 51) ....................................................................................851 23.8.2. Publication of notice of record date (Section 91)..............................................851 23.8.3. Dividend once declared is a debt: ......................................................................851 23.8.4. Accounting disclosure requirement ..................................................................851 Practical procedures ...................................................................................................................852 23.9.1. Related to final dividend.....................................................................................852 23.9.2. Related to interim dividend................................................................................854 23.9.3. Related to declaration of dividend out of companyâ&#x20AC;&#x2122;s reserves ..................................................................................................................856 23.9.4. Related to transfer of unpaid or unclaimed dividend to the Investor Education & Protection Fund [Based on Draft Rules 8.4 (2)] ..........................................................................................................856 23.9.5. Related to transfer of shares in respect of which unpaid or unclaimed dividend has been transferred to Investor Education & Protection Fund (Based on Draft Rules) .......................................857 23.9.6. Related to claiming of unclaimed/unpaid dividend (Based on Draft Rules)............................................................................................858 23.9.7. Related to claim for shares transferred to Investor Education & Protection Fund (Based On Draft Rules 8.5) ................................859 Practical FAQs.............................................................................................................................859 Income tax provisions ................................................................................................................861

Chapter 24

Books of Accounts and Financial Statements

Sections/rules applicable to books of accounts & financial statements ..............................................865 Introduction to financial statements .........................................................................................................866 Corresponding provisions of 1956 Act .....................................................................................................867 Comparative study: 2013 Act â&#x20AC;&#x201C; 1956 Act..................................................................................................867 Objective behind the law ............................................................................................................................871 24.1. Definitions ...................................................................................................................................872 24.1.1. Books and paper/books or paper ......................................................................872 24.1.2. Branch office .........................................................................................................872 24.1.3. Financial year........................................................................................................872 24.2. Books of accounts .......................................................................................................................872 24.2.1. Books of accounts required to be kept by company ........................................872 24.2.2. Books of accounts kept at other than registered office ...................................873 24.2.3. Books of accounts kept in electronic mode.......................................................873 24.2.4. Books of accounts of branch office.....................................................................874 24.2.5. Inspection of books of accounts .........................................................................874 24.2.6. Time period for preservation of books of accounts .........................................875 24.2.7. Responsibility for compliance with section 128 ...............................................875 xxxvi

Table of contents

24.3.

24.4.

24.5.

24.6.

24.7.

24.2.8. Penalty ...................................................................................................................875 24.2.9. Maintenance of books of accounts for foreign companies .............................876 Financial statements ...................................................................................................................876 24.3.1. Contents of financial statements ........................................................................876 24.3.2. Non-applicability of Schedule – III ....................................................................876 24.3.3. Exemption from contents of financial statements ...........................................877 24.3.4. Financial statements at annual general meeting ..............................................877 24.3.5. Manner of consolidation of accounts ................................................................878 24.3.6. Responsibility for compliance with section 129 ...............................................879 24.3.7. Penalty ...................................................................................................................879 24.3.8. Signing of financial statements ..........................................................................879 Accounting standards ................................................................................................................879 24.4.1. Applicability of accounting standards ..............................................................880 24.4.2. Applicability of Indian Accounting Standards ................................................880 24.4.3. Obligation to comply with accounting standards ...........................................880 24.4.4. Calculation of net worth of companies .............................................................882 24.4.5. Exemptions from accounting standards ...........................................................883 24.4.6. Deviation from accounting standards ...............................................................883 24.4.7. List of Indian Accounting Standards.................................................................883 Re-opening of financial statements ..........................................................................................885 24.5.1. Powers for re-opening of accounts by court/tribunal’s order.......................................................................................................................885 24.5.2. Voluntary revision of financial statements or board’s report .....................................................................................................................886 National financial reporting authority ....................................................................................887 24.6.1. Powers of central government ...........................................................................887 24.6.2. Role of National Financial Reporting Authority .............................................887 24.6.3. Constitution of National Financial Reporting Authority ...............................887 24.6.4. Powers of National Financial Reporting Authority ........................................888 24.6.5. Appeal against the order of National Financial Reporting Authority ...............................................................................................................889 24.6.6. Meeting of National Financial Reporting Authority .......................................889 24.6.7. Books of Accounts and Audit of National Financial Reporting Authority ............................................................................................889 Right of member to receive copies of audited financial statements ....................................890 24.7.1. Listed company – Physical mode ......................................................................890 24.7.2. Listed company - Electronic mode ....................................................................890 24.7.3. Placement of reports on company website .......................................................891 24.7.4. Exemption to Nidhi company ............................................................................891 24.7.5. Inspection of documents .....................................................................................891 24.7.6. Penalty ...................................................................................................................891 xxxvii

Company Law Ready Reckoner

24.8.

24.9. 24.10.

24.7.7. Circular for foreign subsidiary ...........................................................................892 Copy of the financial statements to be filed with registrar ...................................................892 24.8.1. AOC 4 ....................................................................................................................892 24.8.2. Subsidiary incorporated outside India .............................................................893 24.8.3. Non-adopted financial statements .....................................................................893 24.8.4. Non-holding of annual general meeting...........................................................893 24.8.5. One person company...........................................................................................893 24.8.6. Penalty ...................................................................................................................893 24.8.7. Filing of financial statements in XBRL format .................................................894 Forms to be filled at registrar of companies ...........................................................................895 Schedule III as per Companies Act, 2013 ................................................................................895

Chapter 25

Depreciation

Sections/rules applicable to depreciation ................................................................................................922 Introduction to depreciation ......................................................................................................................922 Corresponding provision of 1956 Act.......................................................................................................922 Comparative Study: 2013 Act â&#x20AC;&#x201C; 1956Act ..................................................................................................922 Objective behind the law ............................................................................................................................924 25.1. Meaning of depreciation ............................................................................................................924 25.1.1. General meaning ..................................................................................................924 25.1.2. Legal meaning ......................................................................................................924 25.2. Principals of depreciation ..........................................................................................................925 25.2.1. Depreciable amount .............................................................................................925 25.2.2. Systematic allocation ...........................................................................................925 25.2.3. Over useful life .....................................................................................................925 25.2.4. Review of estimates .............................................................................................926 25.3. Assessment of useful life and residual value..........................................................................926 25.4. Depreciation on intangible assets .............................................................................................926 25.4.1. Mode of amortization ..........................................................................................927 25.4.2. Example .................................................................................................................927 25.5. Double/ triple shift working ....................................................................................................929 25.6. Component accounting..............................................................................................................929 25.6.1. Example .................................................................................................................929 25.7. Continuous process plant ..........................................................................................................930 25.8. Useful lives of assets (Part C) ....................................................................................................931 25.9. AS â&#x20AC;&#x201C; 6 and Schedule II of the Companies Act, 2013 ..............................................................938 25.10. Clarification issued by the MCA regarding capitalization of cost .......................................939 25.11. Key points for calculating depreciation...................................................................................940 25.12. Useful Steps to calculate depreciation .....................................................................................941 25.13. Comparison of Schedule II with Schedule XIV ......................................................................941

xxxviii

Table of contents

Chapter 26

Corporate Social Responsibility (CSR)

Chapter 27

Board’s Report

Sections/rules applicable to CSR ..............................................................................................................952 Introduction of CSR ....................................................................................................................................952 Corresponding provision of 1956 Act.......................................................................................................953 Comparative study: 2013 Act - 1956 Act ..................................................................................................953 Objective behind the law ............................................................................................................................953 26.1. Meaning of CSR ..........................................................................................................................954 26.2. Applicability of CSR ...................................................................................................................954 26.3. Compliance..................................................................................................................................955 26.4. Contribution to CSR [Section 135 (5)] ......................................................................................955 26.5. CSR activities: inclusion & exclusion .......................................................................................956 26.6. Constitution of CSR committee ................................................................................................957 26.6.1. Listed public company ........................................................................................957 26.6.2. Unlisted public company or private company ................................................957 26.6.3. Foreign company .................................................................................................958 26.6.4. The main functions of the CSR committee are to ............................................958 26.6.5. Nos. of meeting ....................................................................................................958 26.6.6. Quorum .................................................................................................................958 26.6.7. Framing of CSR policy ........................................................................................958 26.7. CSR expenditure .........................................................................................................................959 26.7.1. Computation of net worth for deciding the CSR criteria ...............................959 26.7.2. Computation of net profit for deciding the csr criteria ...................................959 26.7.3. Computation of average net profit for determining CSR expenditure amount ............................................................................................960 26.8. Board responsibilities [Sec 135 (4)]...........................................................................................961 26.9. Disclosures ..................................................................................................................................962 26.10. Penalty .........................................................................................................................................962 26.11. Cease to comply with provisions of CSR ................................................................................963 26.12. Format for thon CSR Activities to be included in the board's report ..................................963 26.13. CSR expenditure and its allow-ability in income tax ............................................................964 26.14. Other points.................................................................................................................................966 26.14.1. Other laws should not be contravened .............................................................966 26.14.2. Clarification on CSR ............................................................................................966 Sections/rules applicable to board’s report .............................................................................................970 Introduction to board’s report ...................................................................................................................971 Corresponding provisions of 1956 Act .....................................................................................................971 Comparative study: 2013 Act -1956 Act ...................................................................................................972 27.1. Contents of board’s report ........................................................................................................973 27.2. Exemptions in disclosure for government company .............................................................974 xxxix

Company Law Ready Reckoner

27.3. 27.4.

27.5. 27.6. 27.7. 27.8. 27.9. 27.10. xl

Summary for reporting of matters in board’s report .............................................................975 Additional business items required to be included in board report/detailed explanations ....................................................................................................978 27.4.1. Meetings of director .............................................................................................978 27.4.2. Disclosure related to directors responsibility statement ................................979 27.4.3. Constitution of committee u/s 178 ....................................................................980 27.4.4. Audit report and secretarial audit report .........................................................980 27.4.5. Related parties disclosure as per section 188 (1) ..............................................980 27.4.6. Post balance sheet events – material changes ..................................................980 27.4.7. Information on conservation of energy/technology absorption, ............................................................................................................981 27.4.8. Risk management policy .....................................................................................982 27.4.9. Disclosure relating to corporate social responsibility .....................................982 27.4.10. Formal evaluation of by boards of its own performances ..............................982 27.4.11. Disclosures of the issue of equity shares with differential voting rights ..........................................................................................................982 27.4.12. Disclosures in respect of voting rights not exercised directly by the employees ...................................................................................983 27.4.13. Disclosure regarding ESOP and sweat equity share .......................................983 27.4.14. Disclosure of employees' details receiving specified remuneration ........................................................................................................984 27.4.15. Disclosures in board report related to remuneration of employees .............................................................................................................985 27.4.16. Disclosure regarding director and Key Managerial Person ....................................................................................................................985 27.4.17. Disclosure Under the Sexual Harassment of Women at workplace ..............................................................................................................986 27.4.18. Reason of voluntary revision of financial statement and Board’s report .......................................................................................................986 27.4.19. Disclosure regarding Subsidiary, Associates and Joint Venture ..................................................................................................................986 27.4.20. Disclosure related to deposits ............................................................................986 27.4.21. Disclosure related to internal financial control ................................................987 27.4.22. Other matters to be included in board’s report ...............................................987 27.4.23. General disclosure................................................................................................987 Board’s report for one person company ..................................................................................988 Signing of board’s report ...........................................................................................................988 Circulation of board’s report ....................................................................................................989 Approval of board’s report .......................................................................................................989 Filing with registrar of companies ...........................................................................................989 Penalty .........................................................................................................................................989

Table of contents

Chapter 28

Audit and Auditors

Sections/Rules applicable to audit & auditors ........................................................................................993 Introduction to audit & auditors ...............................................................................................................993 Corresponding Provision of 1956 ..............................................................................................................994 Comparative study: 2013-1956 ..................................................................................................................994 Objective behind the law ............................................................................................................................999 28.1. Eligibility, qualifications and disqualifications of auditors ................................................1000 28.1.1. Eligibility/qualification for auditor ................................................................1000 28.1.2. Disqualifications of auditor ..............................................................................1000 28.1.3. Vacation of office of the auditor .......................................................................1002 28.1.4. Limit on number of audit ..................................................................................1002 28.2. Auditor not to render certain services ...................................................................................1003 28.3. Appointment of auditors .........................................................................................................1003 28.3.1. Appointment of first auditor ............................................................................1004 28.3.2. Appointment of auditor at 1st annual general meeting ................................1004 28.3.3. Appointment of auditor in government company ........................................1007 28.3.4. Casual vacancy ...................................................................................................1007 28.4. Rotation of auditors..................................................................................................................1008 28.4.1. Requirement of rotation ....................................................................................1008 28.4.2. Cooling period in case of rotation ...................................................................1009 28.4.3. Other disqualifications ......................................................................................1009 28.4.4. Manner of rotation of auditors .........................................................................1009 28.4.5. Illustrations explaining rotation of auditors ..................................................1010 28.4.6. Special rights to shareholders...........................................................................1011 28.4.7. Remuneration to auditors .................................................................................1012 28.4.8. Re-appointment of auditors..............................................................................1012 28.5. Removal of auditor and resignation of auditor ....................................................................1012 28.5.1. Removal of auditor ............................................................................................1012 28.5.2. Procedure for removal of auditor ....................................................................1012 28.5.3. Resignation of auditor .......................................................................................1013 28.5.4. Requirement of Special Notice for Auditor Appointment ...........................1013 28.6. Powers and duties of auditors and auditing standards ......................................................1014 28.6.1. Powers of auditors .............................................................................................1014 28.7. Auditors report to members of a company ...........................................................................1015 28.7.1. Main reporting ...................................................................................................1015 28.7.2. Additional matters to be stated in auditors report ........................................1016 28.7.3. Negative or qualified report by auditor..........................................................1017 28.7.4. Government company auditor and audit report ...........................................1017 28.7.5. Branch audit of a company ...............................................................................1018 28.7.6. Duties of the branch auditor .............................................................................1018 28.7.7. Mandatory to comply with standards of auditing ........................................1019 xli

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28.8.

28.9.

28.10. 28.11. 28.12.

28.13. 28.14.

Reporting of fraud committed against company .................................................................1019 28.8.1. Fraud is more than the amount prescribed ....................................................1019 28.8.2. Fraud is lesser than the amount prescribed ...................................................1020 28.8.3. Duties of auditor done in good faith ...............................................................1021 28.8.4. Provisions also apply to CS and CMA in practice .........................................1021 28.8.5. Penalty .................................................................................................................1021 Statement on specified matters (CARO â&#x20AC;&#x201C;2016) in auditors report.....................................1021 28.9.1. Applicability/non-applicability of CARO 2016 .............................................1022 28.9.2. Matters to be included in CARO 2016 .............................................................1022 28.9.3. Reasons to be stated for unfavorable or qualified answers..........................1026 28.9.4. Changes in CARO 2016 from CARO 2015 ......................................................1026 Auditor to sign audit reports etc ............................................................................................1029 Auditor to attend general meetings .......................................................................................1029 Penalty .......................................................................................................................................1030 28.12.1. Punishment to company and its officers.........................................................1030 28.12.2. Penalty for statutory auditor ............................................................................1030 28.12.3. Additional penalties for statutory auditor .....................................................1030 ROC form filing ........................................................................................................................1032 Practical FAQs...........................................................................................................................1032

Chapter 29

Internal Audit

Sections/rules applicable to internal audit ............................................................................................1038 Introduction to internal audit ..................................................................................................................1038 Corresponding provision of 1956 Act.....................................................................................................1039 Comparative Study: 2013 Act â&#x20AC;&#x201C; 1956 Act ...............................................................................................1039 Objective behind the laws ........................................................................................................................1039 29.1. Meaning of internal audit ........................................................................................................1039 29.2. Objectives of internal audit .....................................................................................................1040 29.3. Internal auditor .........................................................................................................................1040 29.3.1. Requirement of appointment of internal auditor ..........................................1040 29.3.2. Eligibility for internal auditor ..........................................................................1041 29.3.3. Statutory auditor not-eligible to appoint as internal auditor .................................................................................................................1042 29.3.4. Authority to appoint internal auditors ...........................................................1042 29.3.5. Scope and functions of internal auditor ..........................................................1042 29.3.6. Compliance with registrar of companies ........................................................1043 29.3.7. Reporting authority for internal auditor.........................................................1043 29.4. Standards on internal audit (SIA) ..........................................................................................1043 29.4.1. Meaning of SIAs .................................................................................................1043 29.4.2. Purpose of SIAs ..................................................................................................1043 29.4.3. List of SIAs ..........................................................................................................1043 xlii

Table of contents

29.4.4. 29.4.5. 29.4.6. 29.4.7. 29.4.8. 29.4.9. 29.4.10. 29.4.11. 29.4.12. 29.4.13. 29.4.14. 29.4.15. 29.4.16. 29.4.17. 29.4.18. 29.4.19. 29.4.20. 29.4.21.

Chapter 30

SIA – 1 - Planning an Internal Audit ...............................................................1045 SIA -2 - Basic principles governing internal audit .........................................1045 SIA – 3 – Documentation ..................................................................................1046 SIA – 4 – Reporting ............................................................................................1047 SIA – 5 – Sampling .............................................................................................1047 SIA - 6 - Analytical Procedures ........................................................................1048 SIA – 7 - Quality assurance in internal audit..................................................1049 SIA – 8 - Terms of internal audit engagement ...............................................1049 SIA – 9 - Communication with management .................................................1050 SIA – 10 - Internal audit evidence ....................................................................1050 SIA - 11 - Consideration of fraud in an internal audit .................................1051 SIA – 12 - Internal control evaluation ..............................................................1052 SIA – 13 - Enterprise risk management ...........................................................1052 SIA – 14 - Internal audit in an information technology environment ..............1052 SIA – 15 - Knowledge of the entity and its environment..............................1053 SIA – 16 - Using the work of an expert ...........................................................1053 SIA – 17 - Consideration of laws and regulations in an internal audit ............1054 SIA – 18 – Related parties..................................................................................1054

Cost Audit

Sections/rules applicable to cost audit...................................................................................................1056 Introduction to cost audit .........................................................................................................................1056 Corresponding provision of 1956 Act.....................................................................................................1056 Comparative study: 2013-1956 ................................................................................................................1056 Objective behind the law ..........................................................................................................................1057 30.1. Cost records ...............................................................................................................................1058 30.1.1. Applicability of cost records .............................................................................1058 30.1.2. Maintenance of cost records .............................................................................1063 30.1.3. Cost Accounting Standards ..............................................................................1064 30.2. Cost audit...................................................................................................................................1068 30.2.1. Applicability for cost audit ...............................................................................1068 30.2.2. Eligibility for cost auditor .................................................................................1069 30.2.3. Appointment of cost auditor ............................................................................1069 30.2.4. Removal of cost auditor ....................................................................................1070 30.2.5. Remuneration to cost auditor ...........................................................................1070 30.2.6. Submission of cost audit report .......................................................................1071 30.2.7. Cost Auditing Standards...................................................................................1072 30.3. Penalty .......................................................................................................................................1073 30.3.1. Penalty to company and officer in default .....................................................1073 30.3.2. Penalty for cost auditor .....................................................................................1073 30.4. Practical FAQs...........................................................................................................................1074 xliii

Company Law Ready Reckoner

Chapter 30

Cost Audit

Chapter 31

Company secretary and secretarial audit

Sections/Rules applicable to Company Secretary and Secretarial Audit..........................................1078 Introduction ...............................................................................................................................................1079 Corresponding provision of 1956 Act.....................................................................................................1079 Comparative study: 2013 Act-1956 Act ..................................................................................................1079 Objective behind the law ..........................................................................................................................1080 31.1. Definitions .................................................................................................................................1080 31.1.1. Company secretary ............................................................................................1080 31.1.2. Company secretary in practice .........................................................................1081 31.2. Appointment of company secretary ......................................................................................1081 31.2.1. Requirement of company secretary .................................................................1081 31.2.2. Time period for appointment ...........................................................................1082 31.2.3. Procedure for appointment of company secretary ........................................1082 31.2.4. Filling of vacancy of company secretary.........................................................1083 31.2.5. Company secretary cannot be appointed in more than 1 company ..............................................................................................................1083 31.2.6. Penalty for non-compliance of section 203 .....................................................1083 31.3. Statutory responsibilities of the company secretary ............................................................1083 xliv

Table of contents

31.4. 31.5. 31.6. 31.7.

31.8.

31.3.1. Signing of share certificate ................................................................................1084 31.3.2. Signing of annual return ...................................................................................1084 31.3.3. Signing of financial statements ........................................................................1084 31.3.4. In audit committee .............................................................................................1084 31.3.5. Secretary as a compliance officer .....................................................................1084 31.3.6. Appear before NCLT .........................................................................................1084 Register of key managerial personnel ...................................................................................1085 Functions of company secretary .............................................................................................1087 List of Secretarial Standards notified by the Ministry of Corporate Affairs.........................................................................................................................................1088 Secretarial audit ........................................................................................................................1088 31.7.1. Secretarial auditor ..............................................................................................1089 31.7.2. Appointment of secretarial auditor .................................................................1089 31.7.3. Disqualifications for appointment as secretarial auditors............................1089 31.7.4. Requirement of secretarial audit ......................................................................1089 31.7.5. Laws mentioned in Form No. MR – 3 .............................................................1090 31.7.6. Scope of secretarial audit ..................................................................................1091 31.7.7. Qualification and observation in secretarial audit report ............................1092 31.7.8. Reporting of fraud by secretarial audit ...........................................................1092 31.7.9. Fees scale for secretarial audit ..........................................................................1092 31.7.10. Ceiling on secretarial audit ...............................................................................1092 31.7.11. Penalty for non-compliance with section 204 ................................................1093 Format of Secretarial Audit Report – MR – 3........................................................................1094

Chapter 32

Director Identification Number (DIN)

Sections applicable to director identification number ..........................................................................1098 Introduction to DIN ..................................................................................................................................1098 Corresponding provisions of 1956 Act ...................................................................................................1098 Comparative study: 2013 Act – 1956 Act................................................................................................1099 Objective behind the law ..........................................................................................................................1099 32.1. Meaning of Director Identification Number .........................................................................1100 32.2. Requirement for DIN ...............................................................................................................1100 32.3. General provisions related to DIN .........................................................................................1100 32.3.1. Delegation of powers of central government .................................................1100 32.3.2. Application for allotment of DIN ....................................................................1101 32.3.3. Allotment of DIN ...............................................................................................1101 32.3.4. Prohibition to obtain more than 1 DIN ...........................................................1101 32.3.5. Director to intimate DIN ...................................................................................1101 32.3.6. Company to inform DIN ...................................................................................1101 32.3.7. Obligation to indicate DIN ...............................................................................1102 32.3.8. Punishment/penalty for contravention ..........................................................1102 xlv

Company Law Ready Reckoner

32.4.

32.5.

32.6.

Practical procedures .................................................................................................................1102 32.4.1. Procedure for application for allotment of DIN (Indian Citizens) ...............................................................................................................1102 32.4.2. Procedure for application for allotment of DIN (Foreign Nationals) ............................................................................................................1104 32.4.3. Rectification/Rejection of DIN Application: ..................................................1105 32.4.4. Cancellation/surrender/deactivation of DIN: ..............................................1105 32.4.5. Intimation of changes in particulars specified in DIN Application .........................................................................................................1106 32.4.6. Procedure for obtaining DIN under e-form inc-29 ........................................1106 forms to be filled with roc .......................................................................................................1107 32.5.1. e-Forms to be Filled ...........................................................................................1107 32.5.2. Forms to be Attached in other Forms ..............................................................1107 Practical FAQs...........................................................................................................................1107

Chapter 33

Constitution of Board

Sections/Rules applicable to constitution of board ..............................................................................1111 Introduction to board of directors ...........................................................................................................1111 Corresponding provisions of 1956 Act ...................................................................................................1111 Comparative study: 2013 Act-1956 Act ..................................................................................................1112 Objective behind the law ..........................................................................................................................1114 33.1. Definitions of directors ............................................................................................................1114 33.2. Board structure .........................................................................................................................1117 33.2.1. Minimum number of directors .........................................................................1117 33.2.2. Total strength of the directors ..........................................................................1117 33.2.3. Who can be appointed as a Director................................................................1118 33.3. Appointment of first director..................................................................................................1120 33.3.1. First directors are named in the Articles .........................................................1120 33.3.2. Subscribers deemed to be the first directors ..................................................1120 33.3.3. Tenure of first director ......................................................................................1120 33.3.4. First director in case of OPC .............................................................................1120 33.3.5. Appointment of directors in the case of a private company ..............................................................................................................1120 33.4. Women director ........................................................................................................................1120 33.4.1. Applicability .......................................................................................................1120 33.4.2. Time with in which appointment shall be made ...........................................1121 33.4.3. Falling of vacancies ............................................................................................1121 33.4.4. Penalty .................................................................................................................1121 33.5. Small shareholdersâ&#x20AC;&#x2122; director ...................................................................................................1121 33.5.1. Appointment of directors elected by small shareholders.............................1121 33.5.2. Notice of appointment of small shareholdersâ&#x20AC;&#x2122; director ................................1122 xlvi

Table of contents

33.5.3.

33.6.

33.7.

33.8. 33.9.

33.10. 33.11. 33.12. 33.13. 33.14.

Small shareholdersâ&#x20AC;&#x2122; directors considered as an independent director .........................................................................................1122 33.5.4. Small shareholders' director as the managing or wholetime director........................................................................................................1122 33.5.5. Tenure of small shareholdersâ&#x20AC;&#x2122; director ...........................................................1122 33.5.6. Other points ........................................................................................................1122 Additional director ...................................................................................................................1123 33.6.1. Appointment of additional director ................................................................1123 33.6.2. Tenure of additional director ...........................................................................1124 33.6.3. Additional director appointed as ordinary director .....................................1124 Alternate director .....................................................................................................................1124 33.7.1. Appointment of alternate director ...................................................................1124 33.7.2. Tenure of alternate director ..............................................................................1125 33.7.3. Other provisions.................................................................................................1125 Nominee director ......................................................................................................................1126 Casual director ..........................................................................................................................1126 33.9.1. Appointment of casual director .......................................................................1126 33.9.2. Tenure of casual director ..................................................................................1127 Directors liable to retire by rotation and re-appointment ...................................................1127 Appointment of a person who is not retiring director ........................................................1129 Appointment of directors to be voted individually .............................................................1131 Adoption of principle of proportional representation ........................................................1131 Procedures .................................................................................................................................1132 33.14.1. Procedure for appointment of directors .........................................................1132

Chapter 34

Independent Directors

Sections/Rule applicable to independent director ...............................................................................1136 Introduction to independent director .....................................................................................................1136 Corresponding provisions of 1956 Act ...................................................................................................1137 Comparative study: 2013 Act-1956Act ...................................................................................................1137 Objective behind the law ..........................................................................................................................1138 34.1. Applicability for independent director .................................................................................1139 34.2. Definition of independent director ........................................................................................1140 34.3. Manner of appointment of independent director ................................................................1142 34.4. Meetings of independent directors ........................................................................................1143 34.5. Tenure of office .........................................................................................................................1145 34.6. Remuneration to independent directors ...............................................................................1146 34.7. Resignation or removal of independent director .................................................................1146 34.8. Evaluation mechanism.............................................................................................................1147 34.9. Reporting/compliance/disclosure ........................................................................................1147 34.10. Liability ......................................................................................................................................1148 34.11. Committee .................................................................................................................................1148 xlvii

Company Law Ready Reckoner

34.12. 34.13.

Databank of independent directors [Section 150] ................................................................1148 Practical questions ....................................................................................................................1151

Chapter 35

Disqualification, Qualifications and Duties of Directors

Sections/rules applicable .........................................................................................................................1155 Introduction ...............................................................................................................................................1155 Corresponding provision of 1956 Act.....................................................................................................1156 Comparative study: 2013 Act â&#x20AC;&#x201C; 1956Act.................................................................................................1156 Objective behind the law ..........................................................................................................................1159 35.1. Number of directorships .........................................................................................................1160 35.1.1. Maximum number of directorship ..................................................................1160 35.1.2. Maximum number of directorship in public company ................................1161 35.1.3. Members can reduce limits ...............................................................................1161 35.1.4. Penalty .................................................................................................................1161 35.2. Disqualification of director .....................................................................................................1161 35.3. Vacation of office of director ...................................................................................................1163 35.4. Disqualification of director due to conviction of an offence of moral turpitude ....................................................................................................................................1165 35.4.1. Penalty .................................................................................................................1166 35.5. Resignation by a Director ........................................................................................................1166 35.5.1. Notice of resignation .........................................................................................1166 35.5.2. Forward copy to ROC .......................................................................................1166 35.5.3. Effective date of resignation by the director ..................................................1167 35.5.4. Liability of director after resignation ..............................................................1167 35.5.5. Powers to central government to appoint directors ......................................1167 35.6. Removal of directors ................................................................................................................1167 35.6.1. Directors are subject to removal ......................................................................1167 35.6.2. Certain directors cannot be removed ..............................................................1168 35.6.3. Notice of resolution ...........................................................................................1168 35.6.4. Concerned director entitled to be heard on the resolution ..........................1169 35.6.5. Passing of resolution for removal and appointment of another director ..................................................................................................1169 35.6.6. Tenure of the director appointed in place of the removed director ................................................................................................................1169 35.6.7. Other means of removal ....................................................................................1170 35.6.8. Other provisions.................................................................................................1170 35.7. Duties of director ......................................................................................................................1170 35.7.1. Penalty on failure to fulfill the duties by a director ......................................1171 35.8. General position of directors...................................................................................................1171 35.8.1. Fiduciary position of directors .........................................................................1172 35.8.2. Position of an individual director ....................................................................1172 35.8.3. Other provisions.................................................................................................1172 xlviii

Table of contents

35.9. 35.10.

35.11. 35.12.

Obligations on the board of directors ....................................................................................1173 Liabilities of director ................................................................................................................1174 35.10.1. Express and implied liability ............................................................................1175 35.10.2. Liability for a tort ...............................................................................................1175 35.10.3. Tax liability .........................................................................................................1175 35.10.4. False loan claims to be criminal offence ..........................................................1175 Duty of court to restrict the powers of the board.................................................................1176 Register of directors/KMPs ....................................................................................................1176

Chapter 36

Committees and Board Meetings

Sections/Rules applicable to committee and board meetings ............................................................1181 Introduction to committee and board meetings....................................................................................1181 Corresponding provisions of 1956 Act ...................................................................................................1182 Comparative study: 2013 Act – 1956 Act................................................................................................1182 Objective behind the law ..........................................................................................................................1187 36.1. Audit committee .......................................................................................................................1188 36.1.1. Requirement for audit committee ....................................................................1188 36.1.2. Constitution of audit committee ......................................................................1188 36.1.3. Duties/power of audit committee ...................................................................1188 36.1.4. Omnibus approval for related party transactions .........................................1189 36.1.5. Disclosure in board’s report .............................................................................1191 36.1.6. Vigil mechanism .................................................................................................1191 36.2. Nomination and remuneration committee ...........................................................................1192 36.2.1. Requirement for nomination and remuneration committee ............................................................................................................1192 36.2.2. Constitution of nomination and remuneration committee ..........................1192 36.2.3. Policy of the nomination and remuneration committee ...............................1193 36.2.4. Exemption to government company/section 8 company ............................1193 36.3. Stakeholder relationship committee ......................................................................................1193 36.4. Penalty for contravention of provisions related to committees .........................................1194 36.5. Authority for convening a meeting........................................................................................1194 36.6. Frequency of meetings .............................................................................................................1195 36.6.1. Meetings of board ..............................................................................................1195 36.6.1. Meetings of committees ....................................................................................1195 36.6.2. Meeting of independent directors ...................................................................1195 36.7. Notice for meeting ....................................................................................................................1196 36.7.1. Notice/agenda for the meeting shall be sent to .............................................1196 36.7.2. How notice/agenda should be sent ................................................................1196 36.7.3. Who can issue/sign notice ................................................................................1196 36.7.4. Notice shall contain following .........................................................................1197 36.7.5. At least 7 days’ notice period ...........................................................................1197 xlix

Company Law Ready Reckoner

36.8.

36.9.

36.10. 36.11.

36.12.

36.13.

36.14.

36.15. 36.16.

36.7.6. Notice for shorter time period ..........................................................................1197 36.7.7. Agenda of notice ................................................................................................1197 36.7.8. Items of business other than specified in notice ............................................1198 36.7.9. Notes on agenda .................................................................................................1198 36.7.10. Penalty for failing to give notice ......................................................................1201 Meetings of board through video conferencing or other audio visual means .........................................................................................................................................1202 36.8.1. Matters not to be dealt through video conferencing .....................................1205 Quorum......................................................................................................................................1205 36.9.1. Meetings of the board ........................................................................................1205 36.9.2. Meetings of committees ....................................................................................1206 36.9.3. Director not counted for Quorum....................................................................1206 36.9.4. Participation through electronic mode ...........................................................1206 Attendance at meetings & register .........................................................................................1207 Chairman ...................................................................................................................................1208 36.11.1. Meetings of the board ........................................................................................1208 36.11.2. Meetings of committees ....................................................................................1209 Passing of resolution by circulation .......................................................................................1209 36.12.1. Authority .............................................................................................................1209 36.12.2. Procedure ............................................................................................................1210 36.12.3. Approval of resolution ......................................................................................1211 36.12.4. Recording ............................................................................................................1211 36.12.5. Validity ................................................................................................................1211 Minutes ......................................................................................................................................1212 36.13.1. Maintenance of minutes ....................................................................................1212 36.13.2. Contents of minutes ...........................................................................................1212 36.13.3. Recording of minutes ........................................................................................1214 36.13.4. Finalization of minutes ......................................................................................1215 36.13.5. Entry in the Minutes Book ................................................................................1215 36.13.6. Signing and dating of minutes .........................................................................1216 36.13.7. Inspection and extracts of minutes ..................................................................1216 36.13.8. Custody of minutes book ..................................................................................1217 Preservation of minutes and other records ...........................................................................1217 36.14.1. Preservation of Minutes ....................................................................................1217 36.14.2. Other records ......................................................................................................1217 Disclosure ..................................................................................................................................1218 Defects in appointment of directors not to invalidate actions taken .................................1218

Chapter 37

Powers of Board

Sections/rules applicable to powers of board .......................................................................................1221 Corresponding provision of 1956 Act.....................................................................................................1222 l

Table of contents

Comparative study: 2013 Act- 1956 Act .................................................................................................1223 Objective behind the law ..........................................................................................................................1229 37.1. Powers of board ........................................................................................................................1229 37.2. Restriction on powers of board...............................................................................................1231 37.3. Company to contribute to bona fide and charitable funds, etc. .........................................1233 37.4. Prohibitions and restrictions regarding political contributions .........................................1233 37.5. Power of board and other persons to make contributions to national defense fund, etc. ......................................................................................................................1234 37.6. Disclosure of interest by director ...........................................................................................1234 37.7. Loan to directors, etc. ...............................................................................................................1237 37.7.1. Applicability of section 185 ..............................................................................1237 37.7.2. Exceptions to section 185 ..................................................................................1238 37.7.3. Penalty .................................................................................................................1238 37.7.4. Non-applicability of section 185 ......................................................................1239 37.8. Loan and investment by company .........................................................................................1240 37.8.1. Layers of investment .........................................................................................1240 37.8.2. Limits for loans/guarantee/security/investment ........................................1241 37.8.3. Loan above the limit specified .........................................................................1241 37.8.4. Approval of board and public financial institution ......................................1242 37.8.5. Companies registered under Securities Exchange Board of India (SEBI).....................................................................................................1243 37.8.6. Other Conditions/restrictions ..........................................................................1243 37.8.7. Register to be maintained .................................................................................1243 37.8.8. Non applicability of section 186 .......................................................................1244 37.8.9. Penalty .................................................................................................................1245 37.9. Investment of the company to be held in its own name .....................................................1245 37.10. Related party transactions .......................................................................................................1247 37.10.1. Section 188 shall not apply ...............................................................................1247 37.10.2. Meaning of related party ..................................................................................1247 37.10.3. Transactions which are considered as related party transactions .........................................................................................................1248 37.10.4. Approvals required for related party transactions........................................1248 37.10.5. Compliances with regard to disclosure ..........................................................1250 37.10.6. Exemptions .........................................................................................................1251 37.10.7. Implications for non-compliance with procedure governing related party transaction ................................................................1252 37.10.8. Penalty .................................................................................................................1252 37.11. Register of contracts or arrangements in which directors are interested (Section 189) ..............................................................................................................................1255 37.12. Contract of employment with managing or whole-time directors ....................................1255

Company Law Ready Reckoner

37.13. 37.14. 37.15. 37.16. 37.17.

Payment to director for loss of office, etc., in connection with transfer of undertaking, property or shares ........................................................................................1256 Restriction on non-cash transactions involving directors ...................................................1258 Contract by one person company ..........................................................................................1259 Prohibition on forward dealings in securities of company by director or key managerial personnel...................................................................................................1259 Prohibition on insider trading of securities ..........................................................................1260

Chapter 38

Appointment and Remuneration of Managerial Personnel

Sections/rules applicable to appointment and remuneration of managerial personnel ....................................................................................................................................................1264 Introduction ...............................................................................................................................................1265 Corresponding provisions of 1956 Act ...................................................................................................1265 Comparative study: 2013 Act â&#x20AC;&#x201C; 1956 Act................................................................................................1266 Objective behind the law ..........................................................................................................................1269 38.1. Definition ...................................................................................................................................1270 38.1.1. Definition of key managerial personnel .........................................................1270 38.1.2. Definition of manager .......................................................................................1271 38.1.3. Definition of managing director ......................................................................1271 38.1.4. Definition of whole time director ....................................................................1271 38.2. Appointment of key managerial personnel ..........................................................................1271 38.2.1. Requirement .......................................................................................................1271 38.2.2. Restriction ...........................................................................................................1272 38.2.3. Tenure for appointment ....................................................................................1273 38.2.4. Disqualification for appointment.....................................................................1273 38.2.1. Provision not apply to government companies .............................................1274 38.2.2. Provision not apply to private companies ......................................................1275 38.2.3. Appointment of managerial personnel in private companies ...........................................................................................................1275 38.2.4. Appointment of managerial personnel in public companies ...........................................................................................................1277 38.2.5. Appointment of managerial personnel who has attained age of 70 years ....................................................................................................1280 38.3. Managerial remuneration ........................................................................................................1281 38.3.1. Applicability of provisions to whom ..............................................................1282 38.3.2. Definition and composition of managerial remuneration ............................1282 38.3.3. Approval Routes for managerial remuneration ............................................1284 38.3.4. Company having adequate profits ..................................................................1285 38.3.5. Company having inadequate/no profit .........................................................1287 38.3.6. Sitting fees ...........................................................................................................1292 38.3.7. Disclosure in boardâ&#x20AC;&#x2122;s report .............................................................................1292 lii

Table of contents

38.4. 38.5. 38.6. 38.7. 38.8.

38.3.8. Calculation of effective capital .........................................................................1295 38.3.9. Other provisions related to managerial remuneration .................................1296 Calculation of profits ...............................................................................................................1297 Recovery of remuneration in certain cases ...........................................................................1303 Central government or company to fix limit with regard to remuneration .............................................................................................................................1303 Forms of, and procedure in relation to, certain applications..............................................1304 Compensation for loss of office of managing or whole-time director or manager .....................................................................................................................................1304

Chapter 39

Inspection, Inquiry and Investigation

Sections/rules applicable to inspection, inquiry and investigation ...................................................1308 Introduction to inspection, inquiry and investigation .........................................................................1310 Corresponding provisions of 1956 Act ...................................................................................................1310 Comparative study: 2013 Act â&#x20AC;&#x201C; 1956 Act................................................................................................1311 Objective behind the law ..........................................................................................................................1315 39.1. Call for information and inspect documents ........................................................................1316 39.1.1. Power of registrar ..............................................................................................1316 39.1.2. Written notice for inspection of documents ...................................................1316 39.1.3. Power of the registrar to conduct inquiry ......................................................1316 39.1.4. Power of the central government to direct inspection of books etc. .............................................................................................................1317 39.1.5. Punishment for non-compliance ......................................................................1317 39.2. Conduct of inspection and inquiry ........................................................................................1317 39.2.1. Punishment for disobeying the direction .......................................................1318 39.3. Reporting by registrar on inspection or inquiry ..................................................................1318 39.4. Search and seizure ....................................................................................................................1319 39.5. Appointment of investigators by central government ........................................................1319 39.6. Serious Frauds Investigation Office .......................................................................................1319 39.6.1. Need for Serious Frauds Investigation Office (SFIO)....................................1319 39.6.2. Establishment of SFIO .......................................................................................1320 39.6.3. Investigation by SFIO into the affairs of a company .....................................1321 39.6.4. Procedure of arrest .............................................................................................1323 39.7. Investigation into affairs of company in other cases ...........................................................1324 39.7.1. Punishment .........................................................................................................1324 39.8. Security for payment of costs and expenses of investigation .............................................1325 39.9. Firm, body corporate or association not to be appointed as inspector .............................1325 39.10. Investigation of ownership of company ................................................................................1325 39.11. Procedure, powers etc., of inspectors ....................................................................................1326 39.12. Protection of employees during investigations ....................................................................1328 39.13. Conduct investigation into the affairs of other related companies....................................1328 39.13.1. Power of inspector .............................................................................................1328 liii

Company Law Ready Reckoner

39.14.

39.15. 39.16. 39.17. 39.18. 39.19. 39.20.

39.13.2. Seizure of documents ........................................................................................1329 Freezing of the assets of the company on inquiry and to the investigation ..............................................................................................................................1329 39.14.1. Penalty .................................................................................................................1330 Imposition of restrictions on securities..................................................................................1330 39.15.1. Penalty .................................................................................................................1330 Inspectorâ&#x20AC;&#x2122;s report ......................................................................................................................1331 39.16.1. Actions in pursuance of inspectorâ&#x20AC;&#x2122;s report .....................................................1331 Expenses of investigation ........................................................................................................1332 Voluntary winding-up of a company not to stop investigation ......................................1333 Legal advisers and bankers not to disclose certain information ........................................1333 Penalty for furnishing false statement, mutilation, destruction of documents .................................................................................................................................1333

Chapter 40

Compromises, Arrangement and Amalgamation

Sections/rules applicable to compromises, arrangement and amalgamation ..................................1338 Introduction ...............................................................................................................................................1339 Corresponding provisions of 1956 Act ...................................................................................................1339 Comparative study: 2013 Act-1956 Act ..................................................................................................1340 Objective behind the law ..........................................................................................................................1343 40.1. Meaning/definitions ................................................................................................................1343 40.1.1. Merger .................................................................................................................1343 40.1.2. Amalgamation ....................................................................................................1344 40.1.3. Compromise .......................................................................................................1344 40.1.4. Arrangement .......................................................................................................1344 40.1.5. Demerger .............................................................................................................1344 40.2. Power to compromise or make arrangements with creditors and members ....................................................................................................................................1345 40.2.1. Proposal to compromise or arrangement .......................................................1345 40.2.2. Application for order of a meeting ..................................................................1345 40.2.3. Procedure prescribed under Rule 3 .................................................................1346 40.2.4. Creditors responsibility statement & CDR .....................................................1347 40.2.5. Notice of the meeting ........................................................................................1347 40.2.6. Notice should be sent to ....................................................................................1347 40.2.7. Notice to sectoral regulators or authorities ....................................................1348 40.2.8. Contents of notice ..............................................................................................1349 40.2.9. Notice shall be sent by .......................................................................................1352 40.2.10. Notice should mention voting method ...........................................................1352 40.2.11. Voting by proxies ...............................................................................................1352 40.2.12. Copy of compromise or arrangement to be furnished by company ..............................................................................................................1353 40.2.13. Affidavit of service.............................................................................................1353 liv

Table of contents

40.3.

40.4. 40.5.

40.6.

40.7.

40.8.

40.2.14. Passing of order of tribunal at meeting ...........................................................1354 40.2.15. Dispense with calling meeting .........................................................................1355 40.2.16. Result of meeting ...............................................................................................1355 40.2.17. Report on the meeting .......................................................................................1355 Takeover offer (Rules yet to be notified) ...............................................................................1355 40.3.1. Listed company ..................................................................................................1356 40.3.2. Other than listed company ...............................................................................1356 40.3.3. Aggrieved party to takeover offer ...................................................................1357 40.3.4. Procedure for filing grievance ..........................................................................1357 Power of tribunal to enforce compromise or arrangement ................................................1358 Merger and amalgamation of companies..............................................................................1358 40.5.1. Application for merger/amalgamation ..........................................................1358 40.5.2. Circulation of documents with notice of meeting .........................................1359 40.5.3. Order of the tribunal with certain provisions ................................................1359 40.5.4. Transfer of property/liability ...........................................................................1360 40.5.5. Filing to registrar ................................................................................................1361 40.5.6. Appointed date...................................................................................................1361 40.5.7. Statement to be filed every year .......................................................................1361 40.5.8. Penalty .................................................................................................................1361 Procedure for compromise and arrangement as per sections 231 & 232 ..........................1362 40.6.1. Petition for confirming compromise or arrangement ...................................1362 40.6.2. Date and notice of hearing ................................................................................1362 40.6.3. Order on petition................................................................................................1362 40.6.4. Application for directions under section 232 .................................................1363 40.6.5. Directions at hearing of application ................................................................1363 40.6.6. Order under section 232 ....................................................................................1363 40.6.7. Statement of compliance in mergers and amalgamations ............................1363 40.6.8. Report on working of compromise or arrangement .....................................1363 40.6.9. Liberty to apply ..................................................................................................1364 40.6.10. Liberty of the tribunal .......................................................................................1364 Merger and amalgamation of certain companies .................................................................1364 40.7.1. Filing of scheme..................................................................................................1365 40.7.2. Register the scheme ...........................................................................................1366 40.7.3. Objection to the scheme by registrar or official liquidator ...........................1366 40.7.4. Objection to the scheme by central government ............................................1366 40.7.5. Confirmation of the scheme .............................................................................1366 40.7.6. Effects of the scheme..........................................................................................1367 40.7.7. Not to hold shares ..............................................................................................1367 40.7.8. Fees to be paid on revised capital ....................................................................1367 40.7.9. Provision shall also apply to.............................................................................1368 Merger or amalgamation of company with foreign company ...........................................1368 lv

Company Law Ready Reckoner

40.9. 40.10.

40.11.

40.12. 40.13. 40.14. 40.15.

Power to acquire shares of shareholders dissenting from scheme or contract approved by majority ...............................................................................................1368 Purchase of minority shareholding ........................................................................................1370 40.10.1. Determination of price of minority shareholder............................................1370 40.10.2. Offer by minority shareholder .........................................................................1371 40.10.3. Requirement to deposit amount in separate bank account ..........................1371 40.10.4. Other points ........................................................................................................1372 Power of central government to provide for amalgamation of companies in public interest ...................................................................................................1373 40.11.1. Registration of offer of schemes involving transfer of shares ...................................................................................................................1374 Preservation of books and papers of amalgamated companies .........................................1374 Liability of officers in respect of offences committed prior to merger, amalgamation, etc.....................................................................................................................1375 Transfer of proceedings relating to compromise, arrangements, reconstruction ...........................................................................................................................1375 Forms prescribed under rules .................................................................................................1375

Chapter 41

Prevention of Oppression & Mismanagement

Chapter 42

Registered Valuers

Sections/rules applicable to oppression & mismanagement ..............................................................1378 Introduction to oppression and mismanagement .................................................................................1378 Corresponding provisions of 1956 Act ...................................................................................................1378 Comparative study: 2013 Act â&#x20AC;&#x201C; 1956 Act................................................................................................1379 Objective behind the law ..........................................................................................................................1380 41.1. Meaning of oppression & mismanagement ..........................................................................1380 41.1.1. Oppression ..........................................................................................................1380 41.1.2. Mismanagement .................................................................................................1380 41.2. Application to tribunal for relief in cases of oppression, etc. .............................................1381 41.3. Powers of tribunal ....................................................................................................................1381 41.4. Consequence of termination or modification of certain agreements ................................1383 41.5. Right to apply under section 241 ............................................................................................1384 41.6. Class action ................................................................................................................................1384 41.7. Application of certain provisions to proceedings under section 241 or section 245 .................................................................................................................................1387 41.8. Draft rules of oppression and mismanagement ...................................................................1387 Sections applicable to registered valuers ...............................................................................................1394 Introduction to registered valuers ..........................................................................................................1394 Corresponding provision of 1956 Act.....................................................................................................1394 Comparative study: 2013 Act â&#x20AC;&#x201C; 1956 Act................................................................................................1394 Objective behind the law ..........................................................................................................................1394 lvi

Table of contents

42.1. 42.2. 42.3. 42.4. 42.5.

42.6. 42.7. 42.8. 42.9. 42.10. 42.11. 42.12. 42.13.

Appointment of registered valuers ........................................................................................1395 Types of valuation ....................................................................................................................1396 Eligibility of persons for valuation.........................................................................................1396 Responsibilities of valuer ........................................................................................................1397 Approach and methods of valuation .....................................................................................1397 42.5.1. Approach to the valuation ................................................................................1397 42.5.2. Methods of valuation.........................................................................................1398 Contents of valuation report ...................................................................................................1399 Cessation to be registered valuer ...........................................................................................1401 Removal of name of registered valuer from the register ....................................................1401 Restoration of name of registered valuer ..............................................................................1401 Power of central government for removal of name of registered valuer .........................1402 Appeal by registered valuer....................................................................................................1402 Penalty .......................................................................................................................................1402 Other sections where reference has been made to registered valuers ..............................1403

Chapter 43

Removal of names of companies from the Register of Companies

Sections/rules applicable .........................................................................................................................1406 Introduction ...............................................................................................................................................1406 Corresponding provision of 1956 Act.....................................................................................................1406 Comparative study ....................................................................................................................................1407 Objective behind law ................................................................................................................................1408 43.1. Methods for removal of name of company ...........................................................................1408 43.2. Companies that cannot apply for removal under this Chapter .........................................1409 43.3. Procedure to remove name of company from ROC ............................................................1410 43.3.1. Application by registrar ....................................................................................1410 43.3.2. Application by company ...................................................................................1411 43.3.3. Common procedure ...........................................................................................1412 43.4. Restrictions on application by company for strike off of name .........................................1414 43.5. Effect of company notified as dissolved ................................................................................1415 43.6. Fraudulent application for removal of name ........................................................................1415 43.7. Revival of struck off company name .....................................................................................1416 43.7.1. Application by any Person ...............................................................................1416 43.7.2. Application by company or any member or creditor or workman .............................................................................................................1416 43.8. Fast track exit (FTE) scheme....................................................................................................1417 43.8.1. Conditions for FTE scheme ...............................................................................1417 43.8.2. Procedure for making application under FTE ...............................................1418 43.8.3. Procedure adopted by ROC ..............................................................................1419

lvii

Company Law Ready Reckoner

Chapter 44

Winding up

Sections applicable to winding up [*, *]...................................................................................................1425 Introduction to winding up .....................................................................................................................1430 Corresponding provision of 1956 Act.....................................................................................................1430 Comparative study: 2013 Act â&#x20AC;&#x201C; 1956 Act................................................................................................1435 44.1. Definition ...................................................................................................................................1444 44.1.1. Official liquidator ...............................................................................................1444 44.1.2. Winding up .........................................................................................................1444 44.2. Transfer of powers of high court to NCLT ...........................................................................1444 44.2.1. Matters Which Transferred to NCLT w.e.f. 15th December, 2016...................................................................................................1445 44.2.2. Matters Still Continue with High Court .........................................................1445 44.3. Winding up by tribunal ...........................................................................................................1446 44.3.1. Circumstances in which company may be wound up by tribunal ................................................................................................................1446 44.3.2. Petition for winding up .....................................................................................1448 44.3.3. Powers of tribunal ..............................................................................................1450 44.3.4. Directions for filing statement of affairs .........................................................1450 44.3.5. Company liquidators and their appointments ..............................................1451 44.3.6. Removal and replacement of liquidator .........................................................1452 44.3.7. Intimation to company liquidator, provisional liquidator and registrar........................................................................................................1453 44.3.8. Effect of winding up order ...............................................................................1454 44.3.9. Stay of suits, etc., on winding up order ..........................................................1454 44.3.10. Jurisdiction of tribunal ......................................................................................1454 44.3.11. Submission of report by company liquidator ................................................1455 44.3.12. Directions of tribunal on report of company liquidator ...............................1456 44.3.13. Custody of company's properties ....................................................................1457 44.3.14. Promoters, directors, etc., to cooperate with company liquidator .............................................................................................................1458 44.3.15. Settlement of list of contributories and application of assets ....................................................................................................................1458 44.3.16. Obligations of directors and managers ...........................................................1459 44.3.17. Advisory committee ..........................................................................................1459 44.3.18. Submission of periodical reports to tribunal ..................................................1460 44.3.19. Power of tribunal on application for stay of winding up .............................1460 44.3.20. Powers and duties of company liquidator .....................................................1461 44.3.21. Provision for professional assistance to company liquidator .............................................................................................................1462 44.3.22. Exercise and control of company liquidator's powers ..................................1462 44.3.23. Books to be kept by company liquidator ........................................................1463 lviii

Table of contents

44.3.24. 44.3.25. 44.3.26. 44.3.27. 44.3.28. 44.3.29.

44.4.

Audit of company liquidator's accounts .........................................................1463 Payment of debts by contributory and extent of set-off ...............................1464 Power of tribunal to make calls........................................................................1464 Adjustment of rights of contributories ............................................................1464 Power to order costs ..........................................................................................1465 Power to summon persons suspected of having property of company, etc...................................................................................................1465 44.3.30. Power to order examination of promoters, directors, etc. ............................1466 44.3.31. Arrest of person trying to leave india or abscond .........................................1467 44.3.32. Dissolution of company by tribunal ................................................................1467 44.3.33. Appeals from orders made before commencement of act............................1468 Voluntary winding up .............................................................................................................1468 44.4.1. Circumstances in Which Company May be Wound up Voluntarily ..........................................................................................................1468 44.4.2. Declaration of Solvency in Case of Proposal to Wind Up Voluntarily ..........................................................................................................1468 44.4.3. Meeting of Creditors ..........................................................................................1469 44.4.4. Publication of Resolution to Wind Up Voluntarily .......................................1470 44.4.5. Commencement of Voluntary Winding Up ...................................................1470 44.4.6. Effect of Voluntary Winding Up ......................................................................1470 44.4.7. Appointment of Company Liquidator ............................................................1470 44.4.8. Power to Remove and Fill Vacancy of Company Liquidator ...........................................................................................................1471 44.4.9. Notice of Appointment of Company Liquidator to be Given to Registrar ..............................................................................................1471 44.4.10. Cesser of Board's Powers on Appointment of Company Liquidator ...........................................................................................................1471 44.4.11. Powers and Duties of Company Liquidator in Voluntary Winding Up ........................................................................................................1472 44.4.12. Appointment of Committees ............................................................................1472 44.4.13. Company Liquidator to Submit Report on Progress of Winding Up ........................................................................................................1472 44.4.14. Report of Company Liquidator to Tribunal for Examination of Persons .....................................................................................1473 44.4.15. Final Meeting and Dissolution of Company ..................................................1473 44.4.16. Power of Company Liquidator to Accept Shares, etc., as Consideration for Sale of Property of Company ...........................................1474 44.4.17. Distribution of Property of Company .............................................................1475 44.4.18. Arrangement When Binding on Company and Creditors ...........................1475 44.4.19. Power to Apply to Tribunal to Have Questions Determined, etc. .................................................................................................1475 44.4.20. Costs of Voluntary Winding Up ......................................................................1476 lix

Company Law Ready Reckoner

44.5.

Provisions applicable to every winding up ..........................................................................1476 44.5.1. Debts of all descriptions to be admitted to proof ..........................................1476 44.5.2. Application of insolvency rules in winding up of insolvent companies ..........................................................................................1476 44.5.3. Overriding preferential payments ...................................................................1478 44.5.4. Preferential payments........................................................................................1480 44.5.5. Fraudulent preference .......................................................................................1482 44.5.6. Transfers not in good faith to be void .............................................................1482 44.5.7. Certain transfers to be void ..............................................................................1483 44.5.8. Liabilities and rights of certain persons fraudulently preferred ..............................................................................................................1483 44.5.9. Effect of floating charge ....................................................................................1483 44.5.10. Disclaimer of onerous property .......................................................................1484 44.5.11. Transfers, etc., after commencement of winding up to be void ......................................................................................................................1486 44.5.12. Certain attachments, executions, etc., in winding up by tribunal to be void ..............................................................................................1486 44.5.13. Offences by officers of companies in liquidation ..........................................1486 44.5.14. Penalty for frauds by officers. ..........................................................................1488 44.5.15. Liability where proper accounts not kept .......................................................1489 44.5.16. Liability for fraudulent conduct of business ..................................................1489 44.5.17. Power of tribunal to assess damages against delinquent directors, etc. .......................................................................................................1490 44.5.18. Liability under sections 339 and 340 to extend to partners or directors in firms or companies ...................................................................1491 44.5.19. Prosecution of delinquent officers and members of company ..............................................................................................................1491 44.5.20. Company liquidator to exercise certain powers subject to sanction................................................................................................................1492 44.5.21. Statement that company is in liquidation .......................................................1493 44.5.22. Books and papers of company to be evidence ...............................................1493 44.5.23. Inspection of books and papers by creditors and contributories ......................................................................................................1493 44.5.24. Disposal of books and papers of company .....................................................1494 44.5.25. Information as to pending liquidations ..........................................................1494 44.5.26. Official liquidator to make payments into public account of india .................................................................................................................1496 44.5.27. Company liquidator to deposit monies into scheduled bank......................................................................................................................1496 44.5.28. Liquidator not to deposit monies into private banking account.................................................................................................................1496

Table of contents

44.5.29.

44.6.

Company liquidation dividend and undistributed assets account.................................................................................................................1496 44.5.30. Liquidator to make returns, etc ........................................................................1498 44.5.31. Meetings to ascertain wishes of creditors or contributories ......................................................................................................1498 44.5.32. Court, tribunal or person, etc., before whom affidavit may be sworn .....................................................................................................1499 44.5.33. Powers of tribunal to declare dissolution of company void ......................................................................................................................1499 44.5.34. Commencement of winding up by tribunal ...................................................1499 44.5.35. Exclusion of certain time in computing period of limitation .............................................................................................................1499 Official liquidator .....................................................................................................................1500 44.6.1. Appointment of official liquidator ..................................................................1500 44.6.2. Powers and functions of official liquidator ....................................................1500 44.6.3. Summary procedure for liquidation ...............................................................1500 44.6.4. Sale of assets and recovery of debts due to company ...................................1501 44.6.5. Settlement of claims of creditors by official liquidator .................................1501 44.6.6. Appeal by creditor .............................................................................................1501 44.6.7. Order of dissolution of company .....................................................................1502

Chapter 45

National Company Law Tribunal and Appellate Tribunal

Sections/rules applicable to NCLT .........................................................................................................1505 Introduction to NCLT ...............................................................................................................................1506 Corresponding provisions of 1956 Act ...................................................................................................1507 Comparative Study: 2013 Act â&#x20AC;&#x201C; 1956 Act ...............................................................................................1508 Objective behind the law ..........................................................................................................................1510 45.1. Definitions .................................................................................................................................1511 45.2. Transfer of powers of high court to NCLT ...........................................................................1511 45.2.1. Matters which transferred to NCLT w.e.f. 15th December, 2016 ......................................................................................................................1511 45.2.2. Matters that continue with high court ............................................................1512 45.3. Constitution of National Company Law Tribunal...............................................................1513 45.4. Qualification of president and members of tribunal ...........................................................1513 45.5. Constitution of appellate tribunal ..........................................................................................1514 45.6. Qualifications of chairperson and members of appellate tribunal ....................................1514 45.7. Selection of members of tribunal and appellate tribunal ....................................................1515 45.8. Term of office of president, chairperson and other members ............................................1515 45.9. Salary, allowances and other terms and conditions of service of members ....................................................................................................................................1516 45.10. Acting president and chairperson of tribunal or appellate tribunal .................................1516 lxi

Company Law Ready Reckoner

45.11. 45.12. 45.13. 45.14. 45.15. 45.16. 45.17. 45.18. 45.19. 45.20. 45.21. 45.22. 45.23. 45.24. 45.25. 45.26. 45.27. 45.28. 45.29. 45.30.

lxii

Resignation of members ..........................................................................................................1517 Removal of members ...............................................................................................................1517 Staff of tribunal and appellate tribunal .................................................................................1518 Benches of tribunal ...................................................................................................................1518 Orders of tribunal .....................................................................................................................1519 Appeal from orders of tribunal ..............................................................................................1519 Expeditious disposal by tribunal and appellate tribunal ....................................................1520 Appeal to Supreme Court .......................................................................................................1520 Procedure before tribunal and appellate tribunal ................................................................1520 Power to punish for contempt ................................................................................................1521 Delegation of powers ...............................................................................................................1522 President, members, officers, etc., to be public servants .....................................................1522 Protection of action taken in good faith ................................................................................1522 Power to Seek Assistance of chief metropolitan magistrate, etc. .......................................1522 Civil court not to have jurisdiction ........................................................................................1523 Vacancy in tribunal or appellate tribunal not to invalidate Acts or proceedings ...............................................................................................................................1523 Right to legal representation ...................................................................................................1523 Limitation ..................................................................................................................................1523 Transfer of certain pending proceedings. .............................................................................1523 National Company Law Tribunal Rules ...............................................................................1524 45.30.1. Part â&#x20AC;&#x201C; I: Definitions and forms etc. ..................................................................1524 45.30.2. Part II - Power and functions of president, registrar and secretary ..............................................................................................................1529 45.30.3. Part III - Institution of proceedings, petition, appeals etc. ...........................1530 45.30.4. Part IV â&#x20AC;&#x201C; General procedure .............................................................................1535 45.30.5. Part V - Issuance of orders and disposal of cases ..........................................1544 45.30.6. Part VI - Other procedures................................................................................1545 45.30.7. Part VII - Procedures in respect of matters earlier dealt by other quasi-judicial bodies, courts and tribunals...........................................1545 45.30.8. Part VIII - Special procedure ............................................................................1547 45.30.9. Part IX - Cause list ..............................................................................................1560 45.30.10. Part X - Record of proceedings .........................................................................1561 45.30.11. Part XI - Maintenance of registers ....................................................................1563 45.30.12. Part XII - Service of process/appearance of respondents and objections .....................................................................................................1565 45.30.13. Part XIII - Fee on petition or appeal, process fee and award of costs .....................................................................................................1566 45.30.14. Part XIV - Inspection of record .........................................................................1567 45.30.15. Part XV - Appearance of authorized representative .....................................1568 45.30.16. Part XVI - Affidavits ..........................................................................................1570

PART A

Concise Referencer

Company Law Ready Reckoner

Error! No text of specified style in document.

Authorities Synopsis Central government ........................................................................................................................................1 Suo-motu powers by central government ...............................................................................................1 Approvals from central government ........................................................................................................7 Regional director ...........................................................................................................................................11 Suo-motu powers of regional director ...................................................................................................11 Approvals from Regional Director .........................................................................................................11 Documents to be Filled with Regional Director....................................................................................14 Registrar of companies .................................................................................................................................17 Suo-motu powers of registrar of companies .........................................................................................17 Approvals from Registrar of Companies ...............................................................................................18 Documents to be filled with registrar of companies ............................................................................23

Central government Suo-motu powers by central government Section

Description

Section 1- Short title, extent, commencement and application.

To notify the various provisions of the Act--1 (3)

Section 2- Definitions.

To empower any district court to exercise all or any of the jurisdictions conferred upon the High Court within the scope of its jurisdiction in respect of the company whose registered office is situated in the district --2(29)(ii).

Section 2- Definitions.

To notify any institution as Public financial institution in consultation with Reserve Bank of India --2(72)(v)

Section 8- Formation of companies with charitable objects, etc.

To revoke the license granted to a company registered under this section if company contravenes any of the requirements of this section or any condition subject to which the licence was granted-- 8(6) 1

Ready referencer

Section

Description

Section 16- Rectification of name of company.

To direct the company to change its name is identical with or too nearly resembles the name of the company already in existence -16(1)(a)

Section 68- Power of company to purchase its own securities.

To notify a higher ratio of the debt to capital and free reserves for a class or classes of companies --Proviso to 68(2)(d)

Section 68- Power of company to purchase its own securities.

To nofity the specified securities includes employees stock option or other securities as may be notified by the Central Government from time to time (Explanation I of section 68 specifies the power of Central Government to notify specified securities)

Section 70- Prohibition for buy-back in certain circumstances.

Section 71- Debentures.

To prescribe the procedure for securing the issue of debenture, debenture trust deed, the procedure for debentureholders to inspect the trust deed and to obtain copies thereof, quantum of Debenture redemption reserve to be created and such other matters--71 (13)

Section 76- Acceptance of deposits from public by certain companies.

To authorise company having net worth or turnover as may be prescribed to accept deposits from the persons other than its members.76(1)

Section 89- Declaration in respect of beneficial interest in any share.

To may make rules for the manner of holding and disclosing beneficial interest and beneficial ownership 89(4).

Section 90- Investigation of beneficial ownership of shares in certain cases.

To investigate and report as to beneficial ownership with regard to any share or class of shares in certain cases.

Section 94- Place of keeping and inspection of registers, returns, etc.

To order, direct an immediate inspection of document in case of requisition of copy of any record made by the member, debenture holders, other security holder is refused by the company 94(5).

Section 105- Proxies.

To prescribe class or classes of companies whose members shall not be entitled to appoint another person as a proxy 105(1)proviso (3)

Section 108- Voting through electronic means.

To prescribe the class or classes of companies and manner in which a member may exercise his right to vote by the electronic mode.

Section 110- Postal ballot.

To declare the items of business to be transacted only by means of postal ballot -110(1)(a)

Authorities

Section

Description

Section 110- Postal ballot.

To declare the items of business to be transacted only by means of postal ballot -110(1)(a)

Section 125- Investor Education and Protection Fund.

To establish a fund called Investor education & protection fund, make grants and donations to the fund, to constitute an authority for administrator of fund and to provide to the authority such offices, officers, employees and other resources 125(1),(2),(5),(7).

Section 128- Books of account, etc., to be kept by company.

To direct the companies to keep books of accounts for such longer period as it deems fit for companies in respect of which Inspection has been ordered Proviso to 128(5)

Section 129- Financial statement.

To provide for the consolidation of accounts in such manner as may be prescribed and may also exempt class or classes of companies from complying with the requirements of this section or rules made thereunder or grant exemption in public interest 2nd Provio to 129(3).

Section 131- Voluntary revision of financial statements or Boardâ&#x20AC;&#x2122;s report.

To make rules as to the application of the provisions of this Act in relation to the revised directors report and such rules may in particular-- (a) Make different provisions according to which the previous financial statement or report are replaced or supplemented by a document indicating the corrections to be made. (b) Make provisions with respect to the functions of the auditor in relation to revised financial statements or report; (c) require the directors to take such steps as may be prescribed-- 131(3)

Section 132- Constitution of National Financial Reporting Authority.

Central Government may by notification constitute a National Financial Reporting Authority to provide the matters relating to accounting and auditing standards anjd CG may also by notification constitute with effect from such date as may be specified therein an Apellate Authority consisting a chairperson and two members for hearing appeals arising out of the orders of NFRA --132 (6)

Section 133- Central Government to prescribe accounting standards.

To prescribe the standars of accounting as recommended by ICAI in consultation & after examination of recommendations made by NFRA.

Section 136- Right of member to copies of audited financial statement.

To prescribe the manner of circulation of financial statements of company having such net worth and turnover as may be prescribed 2nd Proviso to 136(1)

Section 139- Appointment of auditors.

To prescribe by way of rules the manner in which the companies shall rotate their auditors in pursuance of sub section (2)--139(4)

Section 143- Powers and 3

Ready referencer

Section

Description

duties of auditors and auditing standards.

(a) To prescribe the standards for auditing as recommended by the ICAI in consultation with and after examination of the recommendations made by the NFRA. (b) To notify in consulation with NFRA the class or classes of companies which are require to include a statement on such matters as specified in their auditor's report --143(10) & (11)

Section 148- Central Government to specify audit of items of cost in respect of certain companies.

(b) To direct the audit of cost records of class of companies covered under this section and which prescribed amount of networth or turnover --148(1)(2)

Section 149- Company to have Board of directors.

To prescribe the minimum number of independent directors in case of any class or classes of public companies other than public listed company -- 149(4)

Section 150- Manner of selection of independent directors and maintenance of data bank of independent directors.

To notify the manner of selection of independent directors and appointing the body, institute or association to maintain the data bank of persons willing to act as independent director --150(1)

Section 167- Vacation of office of director.

To appoint required number of directors in case all directors vacate office under any of the disqualification, who shall hold office till the directors are appointed by the company in the general meeting-167(3)

Section 173- Meetings of Board.

To direct the companies or class of companies who shall not comply with the provision of this sub-section or to comply with such exception , modification or conditions as may be specified-- Proviso to 173(1)

Section 186- Loan and investment by company.

To make rules for the purpose of this section--186(12)

Section 200- Central Government or a company to fix a limit with regard to remuneration.

(a) To specify that the particulars relating to utlization of such other items of cost as may be prescribed to be included in the books of accounts.

To fix limit with regard to remuneration as it may deem fit while acording any approval

Authorities

Section

Description

Section 203- Appointment of key managerial personnel.

To exempt any class of companies engaged in multiple business and which has appointed one or more CEO for each such companies-2nd Proviso to 203(1)

Section 210- Investigation into affairs of company.

To investigate into the affairs of the company either on receipt of report of Registrar or Inspector or on passing of special resolution by the company or in public interest-- 210(1),(2),(3)

Section 211- Establishment of Serious Fraud Investigation Office.

To establish the Serious Fraud Investigation Office to investigate frauds relating to the company --211(1)

Section 212- Investigation into affairs of company by Serious Fraud Investigation Office.

To assign the investigation into the affairs of the company to the Serious Fraud Investigation Office--212(1)

Section 216- Investigation of ownership of company.

To investigate the ownership of the company--216(1)

Section 237- Power of Central Government to provide for amalgamation of companies in public interest.

To provide for amalgamation of companies in public interest -237(1)

Section 259- Appointment of administrator.

To maintain the panel for appointment of the interim administrartor ---259(1)

Section 269- Rehabilitation and Insolvency Fund.

To appoint the administrator for purpose of managing the rehabilitation and Insolvency fund --269(4)

Section 275- Company Liquidators and their appointments.

To maintain the panel for appointment of the provisional or company liquidator-- 275(2)

Section 360- Powers and functions of Official Liquidator.

To prescribe the powers of Official Liquidator--360(1)

Section 390- Offer of Indian Depository Receipts.

To make rules for the offer of Indian Depository Receipts and other matter connected with it.

Section 396- Registration offices.

To appoint Registrars, Additional, Joint, Deputy and Assistant Registrars as it considers necessary for the registration of companies and discharge of various functions under this Act and also direct the preparation of seal for the purpose of authentication of documents. --396(1),(2),(4) 5

Ready referencer

Section Section 398- Provisions relating to filing of applications, documents, inspection, etc., in electronic form.

Description To set up and maintain for filing of e-Forms, documents and applications, etc., and for viewing and inspection of documents in the electronic registry or for obtaining certified copies-- (a) a website or portal to provide access to the electronic registry; and (b) as many Registrarâ&#x20AC;&#x2122;s Front Offices as may be necessary and at such places and for such time as the Central Government may determine--398(1),(2).

Section 400- Electronic form to be exclusive, alternative or in addition to physical form.

To also provide in the rules made under section 398 and section 399 that the electronic form for the purposes specified in these sections shall be exclusive, or in the alternative or in addition to the physical form.

Section 405- Power of Central Government to direct companies to furnish information or statistics.

To direct companies to furnish information or statics within such time as may be specified --405(1),(2),(3)

Section 406- Power to modify Act in its application to Nidhis.

To modify Act in its application to the Nidhi companies--406(1) & (2)

Section 435- Establishment of special courts.

To establish or designate special courts for the purpose of providing speedy trial of offence under this Act --435(1)

Section 442- Mediation and Conciliation Panel.

To maintain a panel of experts to be called as the Meditation and Conciliation Panel for mediating between the parties during the pendency of any proceedings before it, Tribunal or the Appellate Tribunal--442(1)

Section 443- Power of Central Government to appoint company prosecutors.

To appoint Company Prosecutors for the conduct of prosecution arising out of this Act.

Section 454- Adjudication of penalties.

To appoint as many officers of the Central Government, not below the rank of Registrar, as adjudicating officers for adjudging penalty under the provisions of this Act in the manner as may be prescribed-454(1)&(2)

Section 458- Delegation by Central Government of its powers and functions.

To delegate any of its functions or powers under this Act other than the power to make rules to such authority or officer as it thinks fit -458(1)

Authorities

Section

Description

Section 459- Powers of Central Government or Tribunal to accord approval, etc., subject to conditions and to prescribe fees on applications.

To accord approval , saction , consent , confirmation ,recognition to or in relation to , any matter or to give direction in relation to any matter or to grant exemption in relation to any matter--459(1)

Section 462- Power to exempt a class or classes of companies from provisions of this Act.

To exempt class or classes of companies from the provision of this Act or to provide that the provisions will apply subject to such modification , exception or adaptation as may be specified --462(1)

Section 467- Power of Central Government to amend Schedules.

To alter any schedules to this Act--467(1)

Section 468- Power of Central Government to make rules relating to winding up.

To make rules relating to Winding up --468(1)

Section 469- Power of Central Government to make rules.

To make rules for carrying out the provisions of this Act --469(1),(2)

Section 470- Power to remove difficulties.

To make such provisions not inconsistent with the provisions of this Act as appears to it to be necessary or expedient for removing any difficulty arising due to giving effect of any provision --470(1)

Approvals from central government Section

Rule No.

Section 4Memorandum .

Rule no 8(6) of the Companies (Incorporation) Rules, 2014

Form No INC-1

Description 4(3)(b) The following words and combinations thereof shall not be used in the name of company in English or any other languages depicting the same meaning unless the previous approval of the Central Government has been obtained, the power to grant approval is delegated to Registrar of Companies:1. 2.

Board Commission 7

Ready referencer

Section

Rule No.

Form No

Description 3. Authority 4. Undertaking 5. National 6. Union 7. Central 8. Federal 9. Republic 10. President 11. Rashtrapati 12. Small Scale Industries 13. Khadi and Village Industries Corporation 14. Financial, Corporation and the like 15. Municipal 16. Panchayat 17. Development Authority 18. Prime Minister or Chief Minister 19. Minister 20. Nation 21. Forest Corporation 22. Development Scheme 23. Statute or Statutory 24. Court or Judiciary 25. Governor 26. the use of word Scheme with the name of Government(s), State, India, Bharat or any government authority or in any manner resembling with the schemes launched by Central, State or local Governments and authorities 27. Bureau

Section 8Formation of companies with charitable objects, etc.

Rule no 19 of the Companies (Incorporation) Rules, 2014

INC.12

Application for grant of License, the power to grant approval is delegated to Registrar of Companies.

Section 8Formation of companies with charitable objects, etc.

Rule no 21 of the Companies (Incorporation) Rules, 2014

N.A

Prior approval is required for alteration in the memorandum and article. The power to grant approval is delegated to Registrar of Companies provided where approval is required pursuant to conversion of section 8

Authorities

Section

Rule No.

Form No

Description company in to company of another kind permission of Regional Director will be requiredApplication for grant of License, the power to grant approval is delegated to Registrar of Companies.

Section 13Alteration of memorandum.

Rule no 30(1) of the Companies (Incorporation) Rules, 2014

INC.23

For the purpose of seeking approval for alteration of memorandum with regard to change of place of the registered office from one state to another, prior approval of Central Government is required.The power to grant approval is delegated to Regional Director.

Section 13Alteration of memorandum.

Rule no 29 of the Companies (Incorporation ) Rules, 2014

INC.24

A company can change its name with the prior approval of Central Government.The power to grant approval is delegated to Registrar of Companies.

Section 16Rectification of name of company.

N.A.

RD-1

For the purpose of seeking rectification under this section approval of Central Government is required. The power to grant approval is delegated to Regional Director.

Section 87Rectification by the Central Government in register of charges.

Rule no 12(2) of the Companies (Registration of Charges)Rules, 2014

RD-2

The application for condonation of delay for filling instrument creating , modifying or satisfying the charge for registration with the Registrar, shall be filed to Central Government.The power to grant approval is delegated to Regional Director

Section 111Circulation of members' resolution.

N.A.

RD-1

Approval of Central Government is required for not circulating the statement as required under clause 111(b).The power to grant approval is delegated to Regional Director.

Section 140Removal, resignation of auditor and giving of special notice.

Rule no 7(1) of the Companies (Audit and Auditors) Rules, 2014

ADT-2

For removing auditor before his term prior approval of Central Government is required. The application shall be filed within 30 days of the resolution passed by the Board.The power to grant approval is delegated to Regional Director.

Section 153Application for allotment

Rule no 11 of the Companies (Appointment

DIR-5

For cancelling or surrendering DIN, application shall be filed to the Central Government. 9

Ready referencer

Section

Rule No.

of Director Identification Number.

and Qualification of Directors)Rules, 2014

Section 153Application for allotment of Director Identification Number.

Rule no 9(1) of the Companies (Appointment and Qualification of Directors)Rules, 2014

DIR-3

Every individual who is to be appointed as director of any company shall make an application electronically to Central Government for allotment of Director Identification Number (DIN).The power to grant approval is delegated to Regional Director, Joint Director, Deputy Director Assistant Director posted in the office of Regional Director, Noida.

Section 196Appointment of managing director, whole-time director or manager.

N.A

MR-2

Approval of Central Government is required for appointing a Director, Managing Director or Whole Time Director or Manager, where the terms and conditions of their appointment is not in accordance with Schedule V. Pursuant to the notification no G.S.R. 463(E) dated 5th June 2015 issued under section 462 of the Companies Act 2013, the aforesaid provision shall not apply to a government company.

Section 197Overall maximum managerial remuneration and managerial remuneration in case of absence or inadequacy of profits.

N.A

MR-2

Approval of Central Government is required for paying remuneration to the Managing Director or Whole Time Director or Manager, which is not in accordance with section 197 or Schedule V Pursuant to the notification no G.S.R. 463(E) dated 5th June 2015 issued under section 462 of the Companies Act 2013, the aforesaid provision shall not apply to a government company.

Section 399Inspection, production and evidence of documents kept by Registrar.

N.A.

RD-1

Approval of central government is required for inspecting documents u/s 26 & 388 for period other then 14 days beginning with the date of publication prospectus. This power is delegated to Regional Director.

Form No

Description

Authorities

Regional director Suo-motu powers of regional director Section

Description

Section 406Power to modify Act in its application to Nidhis.

In respect of Nidhi Companies which has violated the rules or failed to function in terms of its Memorandum and Articles of Association, the concerned Regional Director may appoint a Special Offer to take over the management of such company and such special offer shall function as per the guidelines given by the Regional Director --Rule no 23 (ii) of the Nidhi Rules 2014

Approvals from Regional Director Section

Rule No.

Form No

Section 8Formatio n of companie s with charitable objects, etc.

Rule no 21(3) of the Compani es (Incorpor ation) Rules, 2014

INC.18

Section 12Registere d office of company.

Rule no 28(1) of the Compani es (Incorpor ation) Rules, 2014

INC.23

Section 13Alteration of memoran dum.

Rule no 30(1) of the Companie s (Incorpora tion) Rules, 2014

INC.23

For the purpose of seeking approval for alteration of memorandum with regard to change of place of the registered office from one state to another, prior approval of Regional Director is required. (This power is delegated by Central Government)

RD-1

For the purpose of seeking rectification under this section

Section

N.A.

Description

A company registered under section 8 shall file an application with the Regional Director for approval for converting itself into a company of any other kind.(This power is delegated by Central Government).

A company shall file an application for shifting the registered office within the same state from the jurisdiction of one Registrar to another with the Regional Director.

Ready referencer

Section

Rule No.

Form No

16Rectificati on of name of company.

Description approval of Regional Director is required. (This power is delegated by Central Government).

Section 87Rectificati on by the Central Governm ent in register of charges.

Rule no 12(2) of the Compani es (Registrat ion of Charges) Rules, 2014

RD-2

The application for Condonation of delay for filling instrument creating, modifying or satisfying the charge for registration with the Registrar, shall be filed to Regional Director. (Thispower is delegated by Central Government).

Section 111Circulatio n of members' resolution .

N.A.

RD-1

Approval of Regional Director is required for not circulating the statement as under clause 111(b). (Thispower is delegated by Central Government)

Section 140Removal, resignatio n of auditor and giving of special notice.

Rule no 7(1) of the Compani es (Audit and Auditors) Rules, 2014

ADT-2

For removing auditor before his term prior approval of Regional Director is required. The application shall be filed within 30 days of the resolution passed by the Board. (Thispower is delegated by Central Government).

Section 153Applicati on for allotment of Director

Rule no 9(1) of the Compani es (Appoint ment and Qualificat

DIR-3

Every individual who is to be appointed as director of any company shall make an application electronically to Regional Director, Joint Director, Deputy Director Assistant Director posted in the office of Regional Director, Noida for allotment of Director Identification Number (DIN). (This power is delegated by Central Government).

Authorities

Section

Rule No.

Form No

Description

Identificat ion Number.

ion of Directors) Rules, 2014

Section 399Inspectio n, productio n and evidence of document s kept by Registrar.

N.A.

RD-1

Approval of Regional Directoris required for inspecting documents u/s 26 & 388 for period other then 14 days beginning with the date of publication prospectus. (This power is delegated by Central Government).

Section 406Power to modify Act in its applicatio n to Nidhis.

Rule no 18 of the Nidhi Rules, 2014

RD-1

A Nidhi Company who wish to declare dividend exceeding 25% shall obtain prior approval of Regional Director.

Section 406Power to modify Act in its applicatio n to Nidhis.

Rule no 6 (d) of the Nidhi Rules, 2014

RD-1

Section 406Power to modify Act in its applicatio n to Nidhis.

Rule no 5(3) of the Nidhi Rules, 2014

NDH2

Every Nidhi company shall ,within a period of 1 year from the commencement of these rules, ensure that it has: a) Not less than 200 members b) Net owned funds of 10 lakh rupees or more c) Unencumbered Term Deposits of not less than ten per cent. of the outstanding deposits 13

Ready referencer

Section

Rule No.

Form No

Description d) Ration of net owned funds to deposits of not more than 1:20. If a Nidhi is not in compliance with clauses (a) or (d) above, it shall within 30 days from the close of the first financial year, apply to the Regional Director for extension of time

Section 406Power to modify Act in its applicatio n to Nidhis.

Rule no 10 (3) of the Nidhi Rules, 2014

RD-1

Section 406Power to modify Act in its applicatio n to Nidhis.

Rule no 14 of the Nidhi Rules, 2014

RD-1

If Nidhi company proposes to open more than 3 branches within the district or any branch outside the district, it shall obtain the prior approval of the Regional Director.

Documents to be filled with Regional Director Section

Form No

Rule No

Section 8Formation of companies with charitable objects, etc.

INC.18

Rule no 21(3) of the Compan ies(Incor poration ) Rules, 2014

Section 8Formation of

INC.18

Rule no 21(3) of the

Description

A company registered under section 8 shall file an application with the Regional Director for approval for converting itself into a company of any other kind.

A company registered under section 8 shall file an application with the Regional Director for approval for converting itself

Authorities

Section

Form No

companies with charitable objects, etc.

Rule No

Description

Compan ies(Incor poration ) Rules, 2014

into a company of any other kind.

Section 8Formation of companies with charitable objects, etc.

INC. 19

Rule no 22(1) of the Compan ies(Incor poration ) Rules, 2014

A company registered under section 8 which files an application with the Regional Director for converting itself into a company of any other kind and copy of the same shall be sent to the Regional Director.

Section 12Registered office of company.

INC.23

Rule no 28(1) of the Compan ies (Incorpo ration) Rules, 2014

The application for shifting the registered office within the same state from the jurisdiction of one Registrar to another shall be filed by the company with the Regional Director.

Section 406- Power to modify Act in its application to Nidhis.

No form

Rule no. 14 of the Nidhi Rules, 2014

Section 406- Power to modify Act in its application to Nidhis.

NDH-2

Rule no 5(3) of the Nidhi Rules, 2014

Every Nidhi company shall invest in unencumbered term deposits with a scheduled commercial bank or post office deposits. Provided that in cases of unforeseen commitments, temporary withdrawal may be permitted with the prior approval of Regional Director for the purpose of repayment to depositors to ensure restoration of the prescribed limit of 10% Every Nidhi company shall ,within a period of one year from the commencement of these rules, ensure that it has: a) Not less than 200 members b) Net owned funds of 10 lakh rupees or more c) Unencumbered Term Deposits of not less than ten per cent. ofthe outstanding deposits d) Ration of net owned funds to deposits of not more than 15

Ready referencer

Section

Form No

Rule No

Description 1:20. If a Nidhi is not in compliance with clauses (a) or (d) above, it shall within 30 days from the close of the first financial year, apply to the Regional Director for extension of time.

Section 406- Power to modify Act in its application to Nidhis.

No form

Rule no 10(3) of the Nidhi Rules, 2014

If Nidhi company proposes to open more than 3 branches within the district or any branch outside the district, it shall obtain the prior permission of the Regional Director.

Section 406- Power to modify Act in its application to Nidhis.

No form prescri bed

Rule no 18 of the Nidhi Rules, 2014

A Nidhi Company who wish to declare dividend exceeding 25% shall obtain prior approval of Regional Director.

Section 406- Power to modify Act in its application to Nidhis.

N.A

Rule no 6 (d) of the Nidhi Rules, 2014

Section 454Adjudicati on of penalties.

ADJ

Rule no 4(1) of the Compani es (Adjudic ation of penalties) Rules,

2014

No Nidhi shall acquire another company by purchase of securities or control the composition of the Board of Directors of any other company or enter into any arrangement for the change of its management, unless it has passed special resolution and obtained the prior approval of the Regional Director having jurisdiction over such Nidhi. Every appeal against the order of the adjudicating officer passed under sub- section (3) of section 454 shall be filed in writing with the regional director within 60 days from the date of receipt of the order of adjudicating officer by the aggrieved party.

Authorities

Registrar of companies Suo-motu powers of registrar of companies Section

Description

Section 83- Power of Registrar to make entries of satisfaction and release in absence of intimation from company.

To make entries of satisfaction and release in the absence of intimation from the company --83(1)(b)

Section 206- Power to call for information, inspect books and conduct inquiries.

To call for information, inspect books & documents and to conduct inquiry into the affairs of the company--206(1)

Section 209- Search and seizure.

To (a) enter the premises of company or key managerial personnel or director or auditor or company secretary in practice with such assistance as may be required, and search, the place or places where such books or papers are kept; and (b)seize such books and papers as he considers necessary after allowing the company to take copies of, or extracts from, such books or papers at its cost --209(1)

Section 248- Power of Registrar to remove names of a company from register of companies.

To remove name of the company from the registrar of companies on one or more conditions prescribed in the section --248(1)

Section 251Fraudulent application for removal of name.

To initiate prosecution of person where it is found that an application u/s 248(2) has been filed with the object of evading the liabilities of the company or with the intention to deceive the creditors or to defraud any other person --251(2)

Section 272- Petition for winding up.

To file petition for winding up of the company on any ground specified u/s 271(1) except on the grounds specified in clause (b), (d) or (g) , with the prior approval of central Government --272(1)(c)

Section 406- Power to modify Act in its application to Nidhis.

To ensure compliances by Nidhi Company , Registrar has the power to call for information or returns from the Nidhi Companies as it deems fit and may also engage the services of chartered accountants, company secretaries in practice, cost accountant or any firm from time to time for assisting him in discharging of his duties --Rule no 23(1) of Nidhi Rules 2014

Ready referencer

Approvals from Registrar of Companies Section

Rule No.

Section 3Formation of company.

Rule no 7(4) of the Companies (Incorporation) Rules, 2014

INC 6

A private company can convert itself into One Person Company with the prior approval of the Registrar

Section 4Memorand um.

Rule no 9 of the Companies (Incorporation) Rules, 2014

INC.1

The following words and combinations thereof shall not be used in the name of company in English or any other languages depicting the same meaning unless the previous approval of the Registrar of Companies has been obtained. (This power is delegated by Central Government) :1. Board 2. Commission 3. Authority 4. Undertaking 5. National 6. Union 7. Central 8. Federal 9. Republic 10. President 11. Rashtrapati 12. Small Scale Industries 13. Khadi and Village Industries Corporation 14. Financial, Corporation and the like 15. Municipal 16. Panchayat 17. Development Authority 18. Prime Minister or Chief Minister 19. Minister 20. Nation 21. Forest Corporation 22. Development Scheme 23. Statute or Statutory 24. Court or Judiciary 25. Governor 26. the use of word Scheme with the name ofGovernment(s), State, India, Bharat or any

Form No

Description

Authorities

Section

Rule No.

Form No

Description government authority or in any manner resembling with the schemes launched by Central, State or local Governments and authorities 27. Bureau (This power Government)

delegated

Central

Section 7Incorporati on of company.

Rule no 12 of the Companies (Incorporation) Rules, 2014

INC.2/ INC.7 .

Application for incorporation of a company.

Section 8Formation of companies with charitable objects, etc.

Rule no 19 of the Companies (Incorporation) Rules, 2014

INC.12

Section 8Formation of companies with charitable objects, etc.

Rule no 19 of the Companies (Incorporation) Rules, 2014

INC.12

Section 8Formation of companies with charitable objects, etc.

Rule no 21 of the Companies (Incorporation) Rules, 2014

N.A.

Prior approval of Registrar of Companies is required for alteration in the memorandum and article (other than the case of conversion of co.).(This power is delegated by Central Government).

Section 8Formation of companies with charitable objects, etc.

Rule no 19 of the Companies (Incorporation) Rules, 2014

INC.12

Application for grant of Licensewill be required from the Registrar of Companies. (This power is delegated by Central Government).

Application for grant of License

Ready referencer

Section

Rule No.

Form No

Description

Section 13Alteration of memorandu m.

Rule no 29 of the Companies (Incorporation) Rules, 2014

INC.24

Prior approval of Registrar of Companies is required for alteration of nameexcept in case of addition/deletion of word â&#x20AC;&#x153;Privateâ&#x20AC;? in case of conversion of company. ( This power is delegated by Central Government).

Section 14Alteration of articles.

Rule no 33 of the Companies (Incorporation) Rules, 2014

INC-27

A private company can convert itself into a Public Company with the prior approval of the Registrar

GNL 2

No prospectus shall be issued unless on or before the date of its publication unless a copy of the same is delivered to the Registrar for registration

Section 25Document containing offer of securities for sale to be deemed prospectus. Section 73Prohibition on acceptance of deposits from public.

Rule no 4(5) of the Companies (Acceptance of deposits) Rules, 2014

GNL 2

Section 96Annual general meeting.

Rule no 12(2) of the Companies (Registration Offices and Fees ) Rules 2014

GNL- 1

No circular or a circular in the form of advertisement shall be issued by or on behalf of a company unless, not less than 30 daysbefore the date of such issue, the same has been delivered to the Registrarfor registration. Pursuant to the notification no G.S.R. 464(E) dated 5th June 2015 issued under section 462 of the Companies Act 2013, the aforesaid provision shall not apply to a private company which accepts deposits from its members monies not exceeding 100%, of aggregate of the paid up share capital and free reserves, and such company shall file the details of monies so accepted to the Registrar in such manner as may be specified. Application is required to be made to the Registrar for obtaining extension of time for holding the annual general meeting other than the first meeting

Authorities

Section

Rule No.

Form No

Description

Section 366Companies capable of being registered.

Rule no 3(2) of the Companies(Authorised to be Registered) Rules, 2014

URC .1

A company after obtaining availability of name shall file application to the Registrar for registration under this Act

Section 380Documents, etc., to be delivered to Registrar by foreign companies.

Rule no 3(3) of the Companies (Registration of Foreign Companies) Rules, 2014

FC-1

A foreign company shall, within 30 days of the establishment of its place of business in India, file with the Registrar the documents required to be delivered for registration

Section 389Registration of prospectus.

Rule no 12(2) of the Companies (Registration Offices and Fees ) Rules 2014

GNL 2

No person shall issue, circulate or distribute in India any prospectus offering for subscription in securities of a company incorporated or to be incorporated outside India, , unless before the issue, circulation or distribution of the prospectus in India, a certified copy thereof has been delivered for registration to the Registrar

Section 390Offer of Indian Depository Receipts.

Rule no 13(4) of the Companies

GNL 2

The Merchant Banker to the issue of IDRs shall deliver for registration the prescribed documents or information to the Registrar of Companies at New Delhi, Documents are as follows: a) Instrument constituting or defining the constitution of the issuing company, b) The enactments or provisions having the force of law by or under which the incorporation of the Issuing company was effected, a copy of such provisions attested by an officer of the company be annexed, c) If the issuing company has established place of business in India, address of its principal office in India, d) If the issuing company does not establish a principal place of business 21

Ready referencer

Section

Rule No.

Form No

Description in India, an address in India where the said Instrument, enactments or provision or copies thereof are available for public inspection, and if these are not in English, a translation thereof certified by Key managerial personnel of the Issuing company e) A certified copy of the certificate of incorporation of the issuing company in the country in which it is incorporated, f) The copies of the agreements entered into between the issuing company, the overseas custodian bank, the Domestic Depository, g) If any document or any portion thereof required to be filed with the Securities and Exchange Board of India or the Registrar of Companies is not in English Language, a translation thereof in English, certified by key managerial personnel of the company to be correct and attested by an authorized officer of the Embassy or Consulate of that country in India, shall be attached to each copy of the document.

Section 390Offer of Indian Depository Receipts.

Rule no 13(3)(f) of the Companies (Registration of Foreign Companies) Rules, 2014 and Rule no 12(2) of the Companies (Registration Offices and Fees ) Rules 2014

GNL 2

The Issuing company shall file a prospectus, certified by two authorized signatories of the issuing company, one of whom shall be a whole-time director and other the Chief Financial Officer, stating the particulars of the resolution of the Board by which it was approved Registrar of Companies, New Delhi before such issue

Section 455-

Rule

MSC-1

Application to be filed with the Registrar for

the

Authorities

Section

Rule No.

Dormant company.

Companies (Miscellaneous) Rules, 2014

Section 455Dormant company.

Rule no 8 of The Companies (Miscellaneous) Rules, 2014

Form No

Description obtaining the status of a Dormant Company

MSC-4

Application by a Dormant company for obtaining the status of an active company shall be made to the Registrar

Documents to be filled with registrar of companies Section

Form No

Rule No

Description

Rule no 4(6) of the Companies (Incorporation) Rules, 2014

When the sole member of the OPC ceases to be the member and his nominee becomes the member of such OPC, such new member shall nominate a person within 15 days who shall in the event of his death or incapacity to contract becomes the member of such company, and the company shall file the intimation of such cessation and nomination within 30 days of the change in membership and with the prior written consent of the person so nominated.

Section 3Formation of company.

INC.4 / INC.3

Section 3Formation of company.

INC.2 / INC.3

Rule no 4(2) of the Companies (Incorporation) Rules, 2014

Section 3Formation of company.

INC.4 / INC.3

Rule no 4(4) of Companies (Incorporation) Rules, 2014

Section 3Formation

INC.4 / INC.3

Rule no 4(5) of the Companies

Nomination along with consent of nominee shall be filed at the time of incorporation of the One Person Company (OPC).

The OPC shall within 30 days of receipt of notice of withdrawal of consent file the following : · · ·

Notice of such withdrawal Name of another nominated person Written consent of nominated person

In case change of nominee, details of new nominee along with written consent shall be 23

Ready referencer

Section

Form No

Rule No

Description

of company.

(Incorporation) Rules, 2014

intimated by the OPC within 30 days of receipt of intimation.

Section 3Formation of company.

INC 5

Rule no 6(4) of the Companies (Incorporation) Rules, 2014

INC.6

Rule no 7(4) of the Companies (Incorporation) Rules, 2014

For conversion into one person company, an application is required to be filed with the Registrar

INC.1

Rule no 9 of the Companies (Incorporation) Rules, 2014

Application for the reservation of name.

Section 4Memorand um.

INC.1

Rule no 9 of the Companies (Incorporation) Rules, 2014

Application for the reservation of name.

Section 5Articles.

INC.2 or INC.7 for notice to Registrar MGT.14, in case of existing company

Rule no 10 of the Companies (Incorporation) Rules, 2014

Notice of provision of entrenchment in Article of Association

Section 7Incorporati on of company.

INC.2 for OPC and INC.7 for other than OPC.

Rule no 12 of the Companies (Incorporation) Rules, 2014

Application for incorporation of a company.

Section 3Formation of company. Section 3Formation of company.

Notice by OPC that it has ceased to be an OPC and now required to convert itself into a private company or a public company, shall be filed with the Registrar.

Authorities

Form No

Rule No

INC.20

Rule no 23 of the Companies (Incorporation) Rules, 2014

INC.12

Rule no 19 of the Companies (Incorporation) Rules, 2014

INC.12

Rule no 20 of the Companies (Incorporation) Rules, 2014

An existing company desirous of being registered under section 8 shall make an application to Registrar.

Section 8Formation of companies with charitable objects, etc.

INC.26

Rule no 20(2) of the Companies (Incorporation) Rules, 2014

An existing company desirous of being registered under section 8, shall publish a notice after making application to Registrar and sent a copy of the same with it.

Section 8Formation of companies with charitable objects, etc.

GNL-2

Rule no 21(4) of the Companies (Incorporation) Rules, 2014

In case a section 8 company wishes to convert into company of other class, then the copy of application filed with the Regional Director shall also be filed with the Registrar.

Section Section 8Formation of companies with charitable objects, etc. Section 8Formation of companies with charitable objects, etc. Section 8Formation of companies with charitable objects, etc.

Description

Where the license granted to a company registered under section 8 has been revoked, the company shall apply to Registrar to convert its status and change of name accordingly.

Application for grant of Licence.

Ready referencer

Section

Section 8Formation of companies with charitable objects, etc.

Section 11Commenc ement of business, etc. Section 12Registered office of company.

Section 13Alteration of memorand um.

Section 14Alteration of articles.

Form No

Rule No

Description

A section 8 company shall on receipt of approval of Regional Director for conversion into another class, file with the Registrar:a) Certified copy of the approval of the Regional Director b) Amended memorandum of association and articles of association c) a declaration by the directors that the conditions, if any imposed by the Regional Director have been fully complied with

INC.20

Rule no 22(10)(ii) of the Companies (Incorporation) Rules, 2014

INC.21

Rule no 24 of the Companies (Incorporation) Rules, 2014

A declaration to be filed with the Registrar by a company before commencement of its business.

INC. 22

Rule no 25 & 27 of the Companies(Inc orporation)Rul es, 2014

A company shall file the verification of itâ&#x20AC;&#x2122;s registered office along with notice to the Registrar in case of fresh registration or change of particulars thereof. 12(2)

INC.28

Rule no 31 of the Companies (Incorporation) Rules, 2014

INC.27

Rule no 33 of the Companies (Incorporation) Rules, 2014

For converting a private company into a Public Company , an application is required to be filed with the Registrar.

INC.27

Rule no 33(2) of the Companies (Incorporation) Rules, 2014

A copy of the order of the central government approving the alteration of public company into private company or vice versa shall be filed with the Registrar.

The certified copy of the order of the Central Government approving the alteration of the memorandum for transfer of registered office of the company from one state to another shall be filed with the Registrar.

Authorities

Section Section 16Rectificatio n of name of company. Section 25Document containing offer of securities for sale to be deemed prospectus .

Section 31Shelf prospectus .

Section 32Red herring prospectus .

Section 39Allotment of securities by company.

Form No

GNL-2

Rule No

N.A

Description

When a company changes its name or obtains a new name, then such change shall be notified to the Registrar within 15 days from the date of change. 16(2)

No prospectus shall be issued unless on or before the date of its publication , a copy of the same is delivered to the Registrar for registration.

GNL-2

Rule no 10 of the Companies (Prospectus and Allotment of Securities) Rules, 2014

GNL-2

Rule no 12(2) of the Companies (Registration Offices and Fees ) Rules 2104

A Company that is proposing to offer securities may issue a red herring prospectus and shall file the same with the Registrar before it issue at least 3 days prior to the opening of the subscription list and the offer.

PAS-3

Rule no 12 of the Companies (Prospectus and Allotment of Securities) Rules, 2014

Whenever a company having a share capital makes any allotment of its securities, it shall, within 30 days thereafter, file with the Registrar a return of allotment.

The information memorandum shall be prepared and filed with the Registrar within one month prior to the issue of a second or subsequent offer of securities under the shelf prospectus.

Ready referencer

Section

Section 40Securities to be dealt with in stock exchanges.

Section 42Offer or invitation for subscription of securities on private placement.

Section 64Notice to be given to Registrar for alteration of share capital.

Section 68Power of company to purchase its own securities.

Form No

Rule No

Description

GNL-1

Rule no 13(f) of the Companies (Prospectus and Allotment of Securities) Rules, 2014 and Rule no 12(2) of the Companies (Registration Offices and Fees) Rules 2014

A copy of the contract for the payment of the commission shall be delivered to the Registrar at the time of delivery of the prospectus for registration.

PAS-5 and PAS4

Rule no 14(3) of the Companies (Prospectus and Allotment of Securities) Rules, 2014

A company shall maintain a complete record of private placement offers and acceptances of such offers and a copy of such record along with the private placement offer letter shall be filed with the Registrar and with the SEBI, when the company is listed.

Where a company alters its share capital :

SH.7.

Rule no 15 The Companies (Share Capital and Debentures) Rules, 2014

SH.8

Rule no 17(2) of The Companies (Share Capital and Debentures) Rules, 2014

· Under section 61, or · Government’s order regarding increasing the authorized capital (sec-62), or · a company redeems any redeemable preference shares, the notice of such alteration, increase or redemption shall be filed by it to the Registrar.

A company which has been authorized by special resolution shall, before the buy back of the shares, file with the Registrar a letter of offer.

Authorities

Form No

Rule No

Description

SH.9

Rule no 17(3) of The Companies (Share Capital and Debentures) Rules, 2014

A company which intends to buy-backs shares or other specified securities shall file with the Registrar, along with the letter of offer, and in case of listed company with the Registrar and the Securities and Exchange Board of India, a declaration of solvency.

SH.11

Rule no 17(13) of The Companies (Share Capital and Debentures) Rules, 2014

GNL-2

Rule no 4(5) of the Companies (Acceptance of deposits) Rules, 2014

Section 73Prohibition on acceptance of deposits from public.

DPT-3

Rule no 16 of the Companies (Acceptance of deposits) Rules, 2014

Section 77Duty to register charges, etc.

CHG-1 for other than Debenture s or CHG9 for debenture s including rectificatio n

Rule no 3 of the Companies (Registration of Charges) Rules, 2014

Section Section 68Power of company to purchase its own securities. Section 68Power of company to purchase its own securities. Section 73Prohibition on acceptance of deposits from public.

A company shall file with the Registrar and in case of listed company with the Registrar and the Securities and Exchange Board of India, a return after the completion of buyback.

No circular or a circular in the form of advertisement shall be issued by or on behalf of a company unless, not less than 30 days before the date of such issue, the same has been delivered to the Registrar for registration. Where any deposit accepted before the commencement of this Act, or part thereof or interest due thereon remain unpaid on such commencement or becomes due anytime thereafter then such company, shall on or before the 30th day of June, of every year, file a return with the Registrar.

The particulars of charge together with a copy of instrument, if any, creating or modifying the charge shall be filed with the Registrar within 30 days or additional period of 270 days from the date of creation of charge.

Ready referencer

Section Section 82Company to report satisfactio n of charge. Section 84Intimation of appointme nt of receiver or manager. Section 87Rectificatio n by the Central Governme nt in register of charges.

Section 88Register of members, etc.

Section 89Declaratio n in respect of beneficial interest in any share. 30

Form No

Rule No

Description

CHG-4

Rule no 8 of the Companies (Registration of Charges) Rules, 2014

A company shall within 30 days from the date of the payment or satisfaction in full of any registered charge, give intimation of the same to Registrar.

CHG.6

Rule no 9 of the Companies (Registration of Charges) Rules, 2014

A notice of appointment or cessation of receiver of, or of a person to manage, the property, subject to charge, of a company shall be filed with the Registrar.

INC.28

Rule no 12(3) of the Companies (Registration of Charges) Rules, 2014

The order passed by the Central Government under sub-section (1) of section 87 shall be filed with the Register.

MGT.3

Rule no 7(2) of the Companies (Management and Administration ) Rules, 2014

The Company shall within 30 days from the date of the opening of any foreign register, file with the Registrar notice of the situation of the office and in the case of change in situation of such office or of its discontinuance, shall, within 30 days from the date of such change or discontinuance,

MGT.6

Rule no 9(3) of the Companies (Management and Administration ) Rules, 2014

Where a company received declaration under section 89, then it shall file with the Registrar a return within 30 days from the date of receipt of declaration.

Authorities

Form No

Rule No

Description

MGT.7

Rule no 12(2) of the Companies (Management and Administration ) Rules, 2014

A copy of the annual return shall be filed with the Registrar.

MGT.10

Rule no 13 of the Companies (Management and Administration ) Rules, 2014

Every listed company shall file with the Registrar a return with respect to any change in shareholding position of promoters and top ten shareholders of the company, where the change is related to either increase or decrease of 2% or more in the shareholding position of the promoters and top 10 shareholders of the company in each case, either value or volume of the shares , within 15 days of change .

MGT.14

Rule no 15(6) of the Companies (Management and Administration ) Rules, 2014

A copy of proposed special resolution in advance to be filed with the Registrar under first proviso of sub- section (1) of section 94, , at least one day before the date of general meeting of the company.

Section 117Resolution s and agreement s to be filed.

MGT.14

Rule no 24 of the Companies (Management and Administration ) Rules, 2014

Section 121Report on

MGT.15

Rule no 31(2) of the Companies

Section

Section 92Annual return.

Section 93Return to be filed with Registrar in case promoters' stake changes. Section 94Place of keeping and inspection of registers, returns, etc.

A copy of every resolution or any agreement required to be filed, under section 102, shall be filed with the Registrar.

Every listed company shall file a report on its Annual general meeting with the Registrar within 31

Ready referencer

Section

Form No

annual general meeting.

Section 128- Books of account, etc., to be kept by company.

Section 137- Copy of financial statement to be filed with Registrar.

Attachm ent to AOC-4

AOC-4

Rule No

Description

(Management and Administration ) Rules, 2014

30 days from the date of conclusion of the meeting.

Rule no 3 of the Companies (Accounts) Rules, 2014

Rule no 12(1) of The Companies (Accounts) Rules, 2014

In case Company where keeps its books of accounts in electronic mode, it shall intimate the Registrar on an annual basis at the time of filing of the financial statementÂˇ the name of the service provider; Âˇ the internet protocol address of service provider; Âˇ the location of the service provider (wherever applicable); where the books of account and other books and papers are maintained on cloud, such address as provided by the service provider.

A copy of the duly adopted financial statement including the consolidated financial statement if any along with the all the documents which are required to be or attached to such financial statement shall be filed with the Registrar within 30 days of date of annual general meeting or the adjourned meeting. In case annual general meeting has not held than within 30 days from the last date which the meeting should have been held. In case of One Person company the duly adopted financial statement along with the all the documents which are required to be or attached to such financial statement shall be filed with the Registrar within 180 days of closure of financial year.

Authorities

Form No

Rule No

Description

ADT-1

Rule no 4(2) of the Companies (Audit and Auditors)Rules , 2014

A company shall file with the Registrar a notice about the appointment of the auditor.

ADT-3

Rule no 8 of the Companies (Audit and Auditors)Rules , 2014

Where the company , resignation and other resignation

Section 152Appointm ent of directors.

DIR-2 \ DIR-12

Rule no 8 of the Companies (Appointment and Qualification of Directors) Rules, 2014

Section 157Company to inform Director Identificati on Number to Registrar.

No form prescribe d

Section Section 139Appointm ent of auditors. Section 140Removal, resignatio n of auditor and giving of special notice.

Section 164Disqualific ations for appointme

DIR-9

auditor has resigned from the it shall file within 30 days of a statement indicating the reasons facts relevant with regard to its

The company shall file with the Registrar consent, received from Director within 30 days of appointment

N.A.

Every company shall within 15 days of receipt of Director Identification from its Directors shall furnish the same to Registrar or any other officer or authority as may be specified by the Central Government

Rule no 14(2) of the Companies (Appointment and

Whenever a Company fails to file the financial statements or annual returns, or fails to repay any deposit, interest, dividend, or fails to redeem its debentures, the company shall immediately furnish the details of all the directors to the 33

Ready referencer

Section

Form No

nt of director.

Rule No Qualification of Directors) Rules, 2014

Description Registrar.

DIR-11

Rule no 16 of the Companies (Appointment and Qualification of Directors) Rules, 2014

A Director can forward to the Registrar a copy of his resignation along with reasons.

DIR-12

Rule no 18 of the Companies (Appointment and Qualification of Directors) Rules, 2014

A return containing the particulars of appointment of director or Key managerial personnel and changes therein shall be filed with the Registrar within 30 days of appointment or change.

Section 193Contract by One Person Company.

GNL-2

Rule no 13(f) of the Companies (Prospectus and Allotment of Securities) Rules, 2014 and Rule no 12(2) of the Companies (Registration Offices and Fees) Rules 2014

Every One Person Company shall inform the Registrar about every contract entered with its sole member who is also a director within 15 days of approval by Board

Section 196-

MR.1

Rule no 3 of the Companies

A company shall file a return of appointment of a managing director, whole time director or

Section 168Resignatio n of director.

Section 170Register of directors and key manageria l personnel and their shareholdi ng.

Authorities

Section

Form No

Rule No

Description

Appointm ent of managing director, wholetime director or manager.

(Appointment and Remuneration of Managerial Personnel) Rules, 2014

manager, Chief Executive Officer(CEO), Company Secretary and Chief Financial Officer(CFO) with the Registrar within 60 days of their appointment. Pursuant to notification no G.S.R. 463(E) & 464(E), dated 5th June, 2015, issued under section 462 of the Companies Act, 2013, the aforesaid provision relating to filing of return with respect to managing director, whole time director or manager shall not apply to a government company and a private company

Section 366Companie s capable of being registered.

URC.1

Rule no 3(2) of the Companies(Au thorised to be Registered) Rules, 2014

Any entity as prescribed in section 366 after obtaining availability of name shall file an application to the Registrar for registration under this Act.

URC.1

Rule no 5(i) of the Companies(Au thorised to be Registered) Rules, 2014

Where LLP has obtained a certificate of registration under section 367, an intimation to this effect shall be given, within 15 days of such registration to the concerned Registrar under which it was originally registered.

Section 374Obligation s of companies registering under this Part.

URC.1

Rule no 5 (iv) of the Companies(Au thorised to be Registered) Rules, 2014

In case of registration of Limited Liability Partnership into a company, a declaration by the said Limited Liability Partnership that it has filed all documents which are required to be filed under the Liability Partnership Act, shall be filed with the Registrar.

Section 380-

FC- 1

Rule no 3(3) of the Companies

A foreign company shall, within 30 days of the establishment of its place of business in India, file

Section 374Obligation s of companies registering under this Part.

Ready referencer

Section

Form No

Document s, etc., to be delivered to Registrar by foreign companies . Section 380Document s, etc., to be delivered to Registrar by foreign companies .

Section 381Accounts of foreign company.

Section 384Debenture s, annual return, registratio n of charges, 36

Rule No

Description

(Registration of Foreign Companies) Rules, 2014

with the Registrar the documents required to be delivered for registration along with the list of directors and secretary of such company.

FC-2

Rule no 3(4) of the Companies (Registration of Foreign Companies) Rules, 2014

FC-3

Rule no 4(2) & 6 of the Companies (Registration of Foreign Companies) Rules, 2014

FC.4

Rule no 7 of the Companies (Registration of Foreign Companies) Rules, 2014

Where any alteration is made or occurs in the document delivered to the Registrar for registration under sub-section (1) of section 380, the foreign company shall file with the Registrar, a return within 30 days from the date on which the alteration was made or occurred.

Every foreign company shall, with the Registrar every calendar year , a copy of financial statement, a list of all the places of business established by the foreign company in India as on the date of balance sheet along with documents required to be filed attached or annexed thereto documents:

Every foreign company shall prepare and file to the Registrar, an annual return containing the particulars as they stood on the close of the financial year, within 60 days of closure of the financial year.

Authorities

Section

Form No

Rule No

Description

GNL-2

Rule no 12(2) of the Companies (Registration Offices and Fees) Rules 2014

GNL-2

Rule no 13(3)(f) of the Companies (Registration of Foreign Companies) Rules, 2014 and Rule no 12(2) of the Companies (Registration Offices and Fees) Rules 2014

The Issuing company shall file a prospectus, certified by two authorized signatories of the issuing company, one of whom shall be a wholetime director and other the Chief Financial Officer, stating the particulars of the resolution of the Board by which it was approved Registrar of Companies, New Delhi before such issue.

GNL-2

Rule no 13(4) of the Companies (Registration of Foreign Companies) Rules, 2014 and Rule no 12(2) of the Companies (Registration

books of account and their inspection. Section 389Registratio n of prospectus .

Section 390- Offer of Indian Depository Receipts.

The Merchant Banker to the issue of IDRs shall deliver for registration the prescribed documents or information to the Registrar of Companies at New Delhi, Documents to be are as follows: a) Instrument constituting or defining the constitution of the issuing company, b) The enactments or provisions having the force of law by or under which the incorporation of the Issuing 37

Ready referencer

Section

Form No

Rule No Offices Fees) 2014

Section 406- Power to modify Act in its

GNL-2

and Rules

Rule no 10 of Nidhi Rules, 2014 and Rule no 12(2) of the

Description company was effected, a copy of such provisions attested by an officer of the company be annexed, c) If the issuing company has established place of business in India, address of its principal office in India, d) If the issuing company does not establish a principal place of business in India, an address in India where the said Instrument, enactments or provision or copies thereof are available for public inspection, and if these are not in English, a translation thereof certified by Key managerial personnel of the Issuing company e) A certified copy of the certificate of incorporation of the issuing company in the country in which it is incorporated, f) The copies of the agreements entered into between the issuing company, the overseas custodian bank, the Domestic Depository, g) If any document or any portion thereof required to be filed with the Securities and Exchange Board of India or the Registrar of Companies is not in English Language, a translation thereof in English, certified by key managerial personnel of the company to be correct and attested by an authorized officer of the Embassy or Consulate of that country in India, shall be attached to each copy of the document.

If a Nidhi proposes to open more than three branches, an intimation is to be given to the Registrar within 30 days of such opening.

Authorities

Section

Form No

applicatio n to Nidhis.

Section 406- Power to modify Act in its applicatio n to Nidhis. Section 406- Power to modify Act in its applicatio n to Nidhis.

Section 406- Power to modify Act in its applicatio n to Nidhis.

Section 455Dormant company.

Rule No

Description

Companies (Registration Offices and Fees) Rules 2014

NDH-1

Rule no 5(2) of Nidhi Rules, 2014

Within 90 days from the close of the first financial year after its incorporation and where applicable, the second financial year, the Nidhi shall file a Return of statutory compliances or cost accountant.

NDH-3

Rule no 21 of Nidhi Rules, 2014

Every company covered under Nidhi rules(rule 2) shall file half yearly return with the Registrar within 30 days from the conclusion of each half year duly.

GNL-2

Rule no 10(6)(c) of Nidhi Rules, 2014 and Rule no 12(2) of the Companies (Registration Offices and Fees) Rules 2014

A Nidhi shall not close any branch unless intimation is given to the Registrar within 30 of such closure.

MSC-1

Rule no 3 of the Companies (Miscellaneous ) Rules, 2014

A company may file an application to the Registrar for obtaining the status of a Dormant Company.

Ready referencer

Form No

Rule No

Section 455Dormant company.

MSC-3

Rule no 7 of the Companies (Miscellaneous ) Rules, 2014

Section 455Dormant company.

MSC-4 accompa nied by a return in Form MSC-3

Rule no 8 of the Companies (Miscellaneous ) Rules, 2014

Section

Description

A dormant company shall file a return of dormant company to the Registrar annually within 30 days from the end of each financial year.

A Dormant company may file an application to the Registrar for obtaining the status of an active company.

Certificate/Certification Section

Certification

Rule No

Form No

Certificate/Certifica tion By

Section 1Short title, extent, commencem ent and application.

In case of license to an existing company under section 8 , a Certificate from professionals that the Articles and Memorandum are drawn up in conformity with the provisions of section 8 and rules thereunder; and all the requirements of the Act and rules thereunder has been complied with, is to be filed. 8(5)

Rule no 19(3)(b) of the Companies (Incorporation) Rules, 2014

INC.14

Chartered Accountant, Company Secretary In Practice, Cost Accountant, Advocate

Section 3Formation of company.

Certificate for calculation of the average annual turnover during the relevant period in case of conversion is on the basis of such criteria

Rule no 6 (4) of the Companies (Incorporation ) Rules, 2014

N.A.

Chartered Accountant

Section 7Incorporation of company.

In case of registration of company , a declaration by professionals that all the requirements of Companies act, 2013 and rules made thereunder with respect to incorporation have been complied with, , is to be filed

Rule no 14 of the Companies (Incorporation ) Rules, 2014

INC-8

Chartered Accountant, Company Secretary In Practice, Cost Accountant, Advocate

Ready referencer

Section

Certification

Rule No

Form No

Certificate/Certifica tion By

Section 8Formation of companies with charitable objects, etc.

In case of conversion of section 8 company, a statement of financial position duly certified of the application, shall be filed made up to a date not preceding 30 days ,is to be filed .

Rule no 22(5) of the Companies(Incor poration) Rules, 2014

N.A

Chatered Accountant

Section 8Formation of companies with charitable objects, etc.

In case of conversion of section 8 company, a Certificate from professionals that the provisions of the Act and rules under section 8 with respect to the conversion of the company has been complied with, is to be filed.

Rule no 22(6) of the Companies (Incorporation) Rules, 2014

N.A

Chartered Accountant, Company Secretary In Practice, Cost Accountant, Advocate

Section 18Conversion of companies already registered.

Certificate for calculation of the average annual turnover during the relevant period in case of conversion is on the basis of such criteria

Rule no 7 (4) of the Companies (Incorporation) Rules, 2014

N.A

Chartered Accountant

Section 26Matters to be stated in prospectus.

Certificate from the auditors that accounts of company have been examined and found correct and the said statement may indicate the nature of provision or adjustments made or which are yet to be made.

Rule no 4 of the Companies(pros pectus and allotment of securities) Rules, 2014

N.A

Auditor

Certificate/Certification

Section

Certification

Rule No

Form No

Certificate/Certifica tion By

Section 41Global Depository Receipt.

Report as to the compliance of the Act and rules related to Section 41.

Rule no 4(5) of the Companies (Issue of Global Depository Receipts) Rules, 2014

N.A

Chartered Accountant, Company Secretary In Practice, Cost Accountant, Auditor, Merchant Banker

Section 68Power of company to purchase its own securities.

Verification of Certificate of compliance in respect of buy back of securities

Rule no 17 (14) of the Companies (Share capital and Debentures) Rules, 2014

SH- 15

Company Secretary In Practice

Section 73Prohibition on acceptance of deposits from public.

Certificate of auditor as to the information contained therein

Rule no 16 & 20 of the Companies (Acceptance of deposits) rules, 2014

Form DPT â&#x20AC;&#x201C; 3, DPT- 4

Auditor

Section 92Annual return.

Certificate that the facts disclosed in the Annual Return are correct and adequate

Rule no 11(2) of the Companies (Management and Administration) Rules, 2014

MGT.8

Company Secretary In Practice

Section 196Appointmen t of managing director, whole-time director or manager.,Sec tion 197Overall maximum managerial remuneratio n and managerial

Certificate that the requirement of schedule V have been complied

Schedule V, Part III

N.A.

Company Secretary In Practice, Company Secretary in Employment, Auditor

Ready referencer

Section

Certification

Rule No

Form No

Certificate/Certifica tion By

Section 196Appointmen t of managing director, whole-time director or manager.,Sec tion 197Overall maximum managerial remuneratio n and managerial remuneratio n in case of absence or inadequacy of profits.

Certificate pursuant to section 164 (2) of the companies Act, 2013

Rule no 7 of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014

N.A.

Auditor

Section 196Appointmen t of managing director, whole-time director or manager., Section 197Overall maximum managerial remuneratio n and managerial

Certificate as to the calculation of excess remuneration paid to appointee

Rule no 7 of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014

N.A.

Chartered Accountant, Company Secretary In Practice

remuneratio n in case of absence or inadequacy of profits.

Certificate/Certification

Section

Certification

Rule No

Form No

Certificate/Certifica tion By

remuneratio n in case of absence or inadequacy of profits. Section 204Secretarial Audit for bigger companies.

Secretarial audit report.

Rule no 9 of the Companies(App ointment and Remuneration of Managerial Personnel) Rules, 2014

MR - 3

Company Secretary In Practice

Section 366Companies capable of being registered.

Certified copy of Statement of accounts not later than 15 days preceding the date of seeking registration under this Part.

Rule no 5 of the Companies(Auth orized to registered) Rules, 2014

Auditor

Section 366Companies capable of being registered.

Certificate that the entity applying for registration under this Part has complied with all the provisions of the Stamp Act, to the extent applicable including in vesting of immovable properties.

Rule no 3 of the Companies(Auth orized to registered) Rules, 2014

N.A.

Chartered Accountant, Company Secretary In Practice, Cost Accountant

Section 406Power to modify Act in its application to Nidhis.

Certificate that the company has complied with all the provisions contained in the rules.

Rule no 21 of Nidhi Rules, 2014

N.A.

Auditor

Section 455Dormant company.

Statement of affairs duly certified

Rule no 3 of the Companies (Miscellaneous) Rules, 2014

MSC â&#x20AC;&#x201C; 1

Auditor

Ready referencer

Collection of Main Object Clauses Synopsis Collection of Main Object Clauses....................................................................................................................... 50 Agro Industries ........................................................................................................................................................... 50 Animal Products ......................................................................................................................................................... 51 Art Dealers ................................................................................................................................................................... 51 Astrology & Horoscope.............................................................................................................................................. 51 Audio and Visual media ............................................................................................................................................ 52 Automobile Trading ................................................................................................................................................... 52 Ayurvedic Medicines ................................................................................................................................................. 53 Bankers .. .................................................................................................................................................................... 53 Battery .. .................................................................................................................................................................... 53 Bearings .. .................................................................................................................................................................... 53 Beauticians/Gym ........................................................................................................................................................ 54 Beverages .................................................................................................................................................................... 54 BPO

.. .................................................................................................................................................................... 54

Broadcasting and Networking .................................................................................................................................. 55 Bio-tech .. .................................................................................................................................................................... 55 Butchers .. .................................................................................................................................................................... 56 Cable Network ............................................................................................................................................................ 56 Carpets & Rugs............................................................................................................................................................ 57 Carriers (General) ....................................................................................................................................................... 57 Carriers Haulage and Transport ............................................................................................................................... 57 Cement .. .................................................................................................................................................................... 58 Ceramics .. .................................................................................................................................................................... 58 Chamber of Commerce .............................................................................................................................................. 58 Charitable Purpose ..................................................................................................................................................... 59 Coaching Institute ....................................................................................................................................................... 59 Chemicals .................................................................................................................................................................... 59 Coke, Coal, Charcoal manufacturing ....................................................................................................................... 59 Clinical Research ......................................................................................................................................................... 60 Cold Storages............................................................................................................................................................... 60 Communication Equipment ...................................................................................................................................... 60 47

Ready referencer Communication Towers............................................................................................................................................. 61 Corporate Advisory .................................................................................................................................................... 61 Cosmetics .................................................................................................................................................................... 62 Departmental Store ..................................................................................................................................................... 62 Dry Cleaners and Launderers ................................................................................................................................... 63 Electronics .................................................................................................................................................................... 63 Earthworks................................................................................................................................................................... 64 Engineering .................................................................................................................................................................. 64 Electronic Kilowatt / Hour Meters ............................................................................................................................ 64 Electronics .................................................................................................................................................................... 65 Entertainment .............................................................................................................................................................. 65 Educational Institute .................................................................................................................................................. 65 Exploration and prospecting ..................................................................................................................................... 66 Food

... .................................................................................................................................................................... 67

Farming, Horticulture and Processing ..................................................................................................................... 67 Fertilizers and Chemicals ........................................................................................................................................... 68 Film Equipmentâ&#x20AC;&#x2122;s ........................................................................................................................................................ 68 Film Production and Distribution............................................................................................................................. 69 Finance and Investment Consultants ....................................................................................................................... 69 Financial Services ........................................................................................................................................................ 70 Fire Fighting Equipmentâ&#x20AC;&#x2122;s ......................................................................................................................................... 71 Fishing Trawlers.......................................................................................................................................................... 71 Flour Mills .................................................................................................................................................................... 71 Fluid control Products and Valves ........................................................................................................................... 71 Food Processing .......................................................................................................................................................... 72 Foot Wear .................................................................................................................................................................... 73 Founders and Forgers................................................................................................................................................. 73 Foundry Equipment ................................................................................................................................................... 74 Fuel and Other Oils..................................................................................................................................................... 74 Fuel Conservation Equipment .................................................................................................................................. 75 Fuel Injection Equipment ........................................................................................................................................... 75 Furniture . .................................................................................................................................................................... 75 Gases

.. .................................................................................................................................................................... 76

General Mining ........................................................................................................................................................... 76 Glass

.. .................................................................................................................................................................... 77

Henna & Herbal Products.......................................................................................................................................... 77 48

Collection of Main Object Clauses Hospitality Services .................................................................................................................................................... 78 Horticulture ................................................................................................................................................................. 78 Hire Purchase and Investment .................................................................................................................................. 79 Hosiery & Cosmetics .................................................................................................................................................. 80 Hosiery & Textiles....................................................................................................................................................... 80 Hospital & Clinics ....................................................................................................................................................... 80 Hotel Proprietors ........................................................................................................................................................ 81 Household Electrical Appliances .............................................................................................................................. 81 Hotel Business ............................................................................................................................................................. 82 Housekeeping Services .............................................................................................................................................. 82 Industrial Gases........................................................................................................................................................... 82 Infrastructure Industries ............................................................................................................................................ 83 Insurance (Accident)................................................................................................................................................... 84 Insurance (Fire and Other Damage to Property...................................................................................................... 84 Insurance (General) .................................................................................................................................................... 84 Insurance (Life) ........................................................................................................................................................... 86 Insurance (marine and Flight) ................................................................................................................................... 86 Insurance (Securities and Investments) ................................................................................................................... 86 Insurance Brokers ....................................................................................................................................................... 87 Interior Decorators ...................................................................................................................................................... 87 Investment (General) .................................................................................................................................................. 87 Iron and Steel ............................................................................................................................................................... 87 Jewelers and Precious Stones .................................................................................................................................... 88 Leather Dealers............................................................................................................................................................ 88 Lifestyle .. .................................................................................................................................................................... 88 Live Stock .................................................................................................................................................................... 89 Logistics .. .................................................................................................................................................................... 89 Machines . .................................................................................................................................................................... 90 Management Consultancy ......................................................................................................................................... 90 Merchant Banking ....................................................................................................................................................... 90 Manpower Consultancy ............................................................................................................................................. 91 NBFC Companies........................................................................................................................................................ 91 Network Marketing .................................................................................................................................................... 92 Online Lottery Business ............................................................................................................................................. 92 Publication and Distribution ..................................................................................................................................... 92 Petrol Extraction .......................................................................................................................................................... 93 49

Ready referencer Plastic Recycling.......................................................................................................................................................... 93 Pharmaceutical ............................................................................................................................................................ 93 Power Generation ....................................................................................................................................................... 94 Retail Business ............................................................................................................................................................. 95 Real Estate / Construction Infrastructure ............................................................................................................... 96 Security .. .................................................................................................................................................................... 96 Special Economic Zone............................................................................................................................................... 96 Software .. .................................................................................................................................................................... 97 Steel

.. .................................................................................................................................................................... 98

Stock Broker ................................................................................................................................................................. 98 Trading .. .................................................................................................................................................................... 98 Tobacco products ........................................................................................................................................................ 99 Textile

.. .................................................................................................................................................................... 99

Tour and Travel........................................................................................................................................................... 99 Tower Business............................................................................................................................................................ 99 Trading of goods ....................................................................................................................................................... 100 Venture Fund Management..................................................................................................................................... 100 Wealth Management ................................................................................................................................................ 101 Web Designing .......................................................................................................................................................... 101 Warehousing ............................................................................................................................................................. 101 Web Portal ................................................................................................................................................................. 101 Wires & Cables .......................................................................................................................................................... 102

Collection of Main Object Clauses Agro Industries To carry on business as manufacturers, producers, processors, makers, importers, exporters, traders, buyers, sellers, retailers, wholesalers, suppliers, indenters, bottlers, packers, movers, stockiest, agents, sub-agents, merchants, distributors, consignors, jobbers, brokers, concessionaires or otherwise deal in all plants and machinery, implements, accessories, tools, materials, substances, goods or things of any description including tractors, power tillers, sprayers, dusters, mist blowers, fishing boats, crafts and trawlers, fishing nets, gadgets, cold storages, deep freeze equipments and all types of equipments required for forestry, animal husbandry, poultry farming, agriculture porciculture, sericulture, horticulture, equipment for processing and preserving forest, agricultural, horticultural, porciculture, or sericulture produce. To carry on business as manufacturers, producers, processors, growers, fermentators, distillers, refiners, makers, inventors, convertors, importers, exporters, traders, buyers, sellers, retailers, wholesalers, 50

Collection of Main Object Clauses suppliers, indenters, bottlers, packers, movers, preservers, stockiest, agents, sub-agents, merchants, distributors, consignors, jobbers, brokers, concessionaires or otherwise deal in all kinds of fertilizers, manures, plant or animal foods, pesticides, insecticides, fungicides and all types of chemicals used in apiculture, porciculture, sericulture, horticulture, poultry farming and animal husbandry. To carry on business of providing the necessary infrastructure to harvest and develop forest resources, promoting forest resource based industries, arranging marketing of timber and other forest resource within the country and abroad. To carry on business of developing land, planting, growing, cultivating, producing and raising plantations of various forest species of proven utility and maintaining, conserving, protecting, preserving, tending, exploiting and managing in all respects, crops and trees raised or come up naturally, or other agricultural, plantation and horticultural crops, medicinal and aromatic plants and to buy, sell, export, import, process, distribute or otherwise deal with all kinds of forest crops, natural products, agricultural, plantation and horticultural crops, medicinal and aromatic plants. To carry on business of establishing, administering, owning and running industries for manufacturing forests products, agricultural, plantation and horticultural products, medicinal and aromatic plants.

Animal Products To carry on in India or else where the business to manufacture establish, produce, process, project, preserve, manage, tin-pack, clean, commercialize, sure cut, powder, buyer, seller, consultant, job worker, market man or otherwise, to deal, in all types, of animals, products, by-products, and waste including brush from making hairs and bristles of pigs, hogs, and boars, horse hari and horse hari waste, guts, bladders and stomach of animals; sinews and tendons parings and similar waste or raw hides and skins, feather and other parts of birds, bones and horn cones of animals, fast of bovine cattle sheep or goats; animals or vegetable oils, fats, sausages and the like material of meat, meat animal blood, meat extracts and meat juices, fish including caviar and caviar substitutes, crustaceans and molluses prepared or preserved and other similar and allied goods, articles and things and to do all such incidental acts and things necessary for the attainment of the above objects.

Art Dealers To carry on in India or anywhere else the business of exhibitors of and dealers in pictures and prints, and of artistsâ&#x20AC;&#x2122; agents, makers, importers, exporters and sellers of picture frames, artistsâ&#x20AC;&#x2122; colors, pastels, oils, acrylics and other paints, brushes, easels and other instruments, articles and ingredients relating to any such business To carry on in India or anywhere else the business of publishers, book and print sellers, magazine proprietors, fine art journalists, printers and engravers, advertisement agents and purchasers and sellers of copyrights. To carry on in India or anywhere else the business of restoring and cleaning pictures.

Astrology & Horoscope To carry on the business in India and abroad of using astrological & horoscope software through information technology e.g. internet, e-mail, website, e-commerce, e-shopping, and other commercial activities related to information technology/telecom and other sectors and to dissemination of information about socio-development, political, economic, bilateral and international issues. 51

Ready referencer To carry on the business as consultants and advisors whether in India or abroad on problems relating to astrological, horoscope software systems design and software developments and to carry on the business of technical knowhow and training in all the fields of astrological, horoscope information technology and voice transcription and processing. To buy, sell, design, import, export, maintain, test, act as agent and develop astrological, horoscope software including systems packages & application packages to register license & reserve all rights in such software packages, to carry out systems & procedure analysis, prepare for writing, testing and documenting of programmes and to buy, sell to use or to develop any such software and packages whether under license or otherwise.

Audio and Visual media To organize stage shows, cultural programmes dancing floors, film shows and other entertainment activities. To carry business in the field of audio and visual media, fashion shows, cinefilms, audio and visual programmes, film making jingles, still and other photography, ad spots, copy writing, scripting, image boosting blue prints, animation films, designing of posters, blimps, slogan writing, creative writing, music videos, publishing books, newsletters related to features documents, to carry on activities such as to produce and direct motion pictures, TV. Films, feature films, publications, their marketing and distribution, to do business as studio owner, theatre owner, to run and maintain studio, theaters film producing center and including event management and movie fashions shows and trans light. To carry on in India or abroad the business of advertising and publicity agents, consultant and contractors and for this purpose to purchase, sell sponsor, charter, manage, acquire, undertake, hold, provide and promote, publicity or advertising time space or opportunity on and radio station, broadcasting center, television center, music video and music audios video cassettes, audio cassette, hoarding, neon signs, electronic display board, cinema cable network, newspapers, magazines, souvenirs and all other present and future medias or display devices including electronic media through internet.

Automobile Trading To carry on the business of manufacture, fabricate and assemble, buy, sell, import, export, distribute, and deal in automobile parts of all kinds and descriptions, automotive and other gears, transmission and other axles, universal joints, springs, leaves, head lamps, sealed beams, induction hardened pins, axles, alloy springs, accessories and fittings of al kinds and to act as brokers and marketing agents for aforesaid items. To carry on the business of buying, selling, dealing in, automobiles, motorcars, lorries, buses, vans, motorcycles, cycle-cars, motor, scooters, carriages, amphibious vehicles, and vehicles suitable for propulsion on land, sea, or in the air or in any combination thereof and vehicles of all descriptions, whether propelled or assisted by means of petrol, diesel, spirit, steam, gas, electrical, animal, or other power, and of internal combustion and other engines, chassis-bodies and other components, parts and accessories and all machinery, implements, utensils, appliances, apparatus, lubricants, solutions enamels and all things capable of being used for, in, or in connection with maintenance, and working of motors. To carry on business as manufacturers, producers, importers, exporters, traders, buyers, sellers, suppliers, indenters, agents, sub-agents, jobbers, brokers, repairers, cleaners, or otherwise deal in automobiles, motor cars, lorries, vans, motor-cycles, cycle-cars, motors, scooters, and other vehicles 52

Collection of Main Object Clauses suitable for propulsion on land, sea, or in the air or in any combination thereof and vehicles of all description whether propelled or assisted by means of petrol, spirit, steam, gas, electrical, animals or other power, engines, chassis, bodies, other parts and components, accessories and all machinery, implements, utensils, appliances, apparatuses, lubricants, solutions, enamels and all things capable of being used for, in, or in connection with the manufacture, maintenance and working of motors or other vehicles and other things or in the construction of any track or surface adapted for the use thereof. To carry on the business of garage keepers, showroom owners for motors and vehicles and suppliers of and dealers in petrol, electricity and other motive power for motors and other vehicles.

Ayurvedic Medicines To carry on business as manufacturers, producers, processors, growers, fermentators, distillers, refiners, makers, inventors, convertors, importers, exporters, traders, buyers, sellers, retailers, wholesalers, suppliers, indenters, bottlers, packers, movers, preservers, stockiest, agents, sub-agents, merchants, distributors, consignors, jobbers, brokers, concessionaires or otherwise deal in Ayurvedic Medicines, or extractions of plant products.

Bankers To carry on business as bakers and manufacturers of and dealers in bread, flour, biscuits and farinaceous compounds and materials of every description and to construct, acquire, hire, hold, work in factories, bake-house, shops, suitable for such baking, manufacturing and dealing. To carry on business as manufacturers, producers, processors, refiners, makers, inventors, convertors, importers, exporters, traders, buyers, sellers, retailers, wholesalers, suppliers, preservers, stockiest, merchants, distributors, consignors, jobbers, brokers, concessionaires or otherwise deal in breads, flour and other wheat products, biscuits, farinaceous compounds, sweets, confectionery, bakery products, food articles and all kinds of ingredients required for the production, or manufacture of the aforesaid products.

Battery To carry on business as manufacturers, producers, processors, assemblers, makers, convertors, importers, exporters, traders, buyers, sellers, retailers, wholesalers, suppliers, indenters, packers, movers, preservers, stockiest, agents, sub-agents, merchants, distributors, consignors, jobbers, brokers, concessionaires or otherwise deal in all types and varieties of storage batteries, dry or otherwise, for all kinds of uses , industrial and non-industrial, battery plates, cells, battery components and for that purpose to install, purchase, import or otherwise acquire plant, machinery and related equipments.

Bearings To carry on business as manufacturers, producers, processors, makers, inventors, convertors, importers, exporters, traders, buyers, sellers, retailers, wholesalers, suppliers, indenters, packers, movers, preservers, stockiest, agents, sub-agents, merchants, distributors, consignors, jobbers, brokers, concessionaires or otherwise deal in ball bearings, roller bearings and all kinds of bearings of any diameter.

Ready referencer

Beauticians/Gym To carry on the business of beauticians, manicurists, pedicurists, hairdressers, hair dryers, and generally to act as a consultant or advisor for beauty and health care and to establish, maintain and run health care centers, beauty parlors, massage parlors, spa centers, barber shops, gymnasiums, physiotherapy center, swimming pools and to conduct training programmes for better body care or make-up. To carry on business as manufacturers, producers, makers, inventors, importers, exporters, traders, buyers, sellers, retailers, wholesalers, suppliers, stockiest, agents, sub-agents, merchants, distributors, consignors, jobbers, brokers, concessionaires or otherwise deal in lipsticks, nail polish, nail polish removers, cream, lotion, ointment, perfumes, foundations, moisturizers, facials, bleaching powders, hair removers, wax, powders, soaps, eyeliners, wigs, artificial hairs, artificial/ imitation jewellery or every kind and description of fashion wears and apparels, beauty aids and cosmetics. To carry on business as manufacturers, producers, processors, makers, inventors, convertors, importers, exporters, traders, buyers, sellers, retailers, wholesalers, suppliers, indenters, packers, movers, preservers, stockiest, agents, sub-agents, merchants, distributors or otherwise deal in all types of equipments, plants & machinery as may be required for carrying out the aforesaid objects.

Beverages To carry on business as manufacturers, producers, processors, growers, fermentators, distillers, refiners, makers, inventors, convertors, importers, exporters, traders, buyers, sellers, retailers, wholesalers, suppliers, indenters, bottlers, packers, movers, preservers, stockiest, agents, sub-agents, merchants, distributors, consignors, jobbers, brokers, concessionaires or otherwise deal in soft drinks, soft drink concentrates, syrups, effervescent drinks, aerated water, tea, coffee, beer, wine, whisky, rum, gin, vodka, or other alcoholic or non-alcoholic drinks and all kinds and classes of beverages. To carry on the business of growers and shippers of wines and spirits, and of wine and spirit producers, distributors, dealers and merchants. To carry on business as manufacturers, producers, processors, makers, convertors, importers, exporters, traders, buyers, sellers, retailers, wholesalers, suppliers, indenters, packers, movers, preservers, stockiest, agents, sub-agents, merchants, distributors, consignors, jobbers, brokers, concessionaires or otherwise deal in bottles, stoppers, corks, in-plate crown corks, crates, containers, whether of glass or any other material, or any other material for the packaging of any kind or variety of beverages.

BPO To carry on the business of providing outsourcing services for all processes, sub Processes, transactions, activities and all other work performed by business in various industries within India and across the world. This includes those process or sub processes that are enabled by information technology. It also includes date, voice or video collection and processing, call centre services including in bound and out bound calling services of all kinds, technical support, managed data centre, managed technical centre, training centre, web support back office, business or financial analysis, scientific analysis, research work and analysis, storage, disaster recovery, accounting, pay roll, inventory management, customer relationship management, enterprises resources planning and to develop software, provide consultancy, software solution and services that are normally offered by the outsourcing business and information technology services providers, the software development houses and application services providers.

Collection of Main Object Clauses

Broadcasting and Networking To carry on the business of broadcasting, telecasting, relaying, transmitting, distributing or running any video, audio, voice, or other programmers or software, (both proprietary and third party) over television, radio, internet, telecom or any other media. To carry on the business of Cable services encompassing distribution, relaying, transmission of signals including but not limited to TV, voice over Internet Protocol, Video On Demand or any other services through cable within and outside India by means of any system. To offer internet based services including but not limited to offering international and domestic voice, voice-over-internet protocol (VOIP), Broadband internet, wireless, data and hosting services to business and residential retail customers and other carriers located in the territory of India and to apply and obtain licenses to carry on these objects. To create/raise infrastructure of dark fibers, right of way, duct space & tower for relaying and transmission of signals for internet and telecom based cable services to end subscribers and customers in Indian territory, to offer such infrastructure to others business establishment on lease and commercial terms and to apply and obtain licenses to carry on these objects.

Bio-tech To manufacture, formulate, process, develop , refine all kinds of pharmaceuticals, antibiotics, medicinal preparations, drugs, chemicals, chemical products, dry salters, foods suitable for infants and invalids, and allied goods and to carry on the business of chemists, druggists, importers, exporters, buyers, sellers, agents, distributors and stockists of all kinds of pharmaceuticals. To manufacture, buy, sell and deal in mineral waters, wines, cordials, liquors, soups, broths and other restoratives or foods especially those suitable for infants, invalids and convalescents, and also to deal in medicinal goods, such as surgical instruments, contraceptives, photographic goods, oil, perfumes, cosmetics, patent medicines, soaps, artificial eyes, hospital requisites, vaccines, biologicals, proprietary medicines, veterinary medicines and tincture extracts. To carry on the business of vialling, bottling, repacking, processing of capsules, syrups, tablets and ointments. To carry on the business of manufacturers and dealers in insecticides, pesticides, repellents, fertilisers and all kinds of agricultural chemicals and to carry on the said business in all their branches and/or to undertake spraying of such chemicals through manual, mechanical and /or aerial operations, alone or in association with other agencies and/or companies. To act as an import & export house. To acquire, render or sell, give technical know-how in India or abroad for any kind of collaboration on any basis. To carry on the business as manufacturers, producers, growers, makers, buyers, sellers, importers, exporters, distributors, agents, brokers, consultants, factors, stockists, commission agents, dealers, market makers and engineers of engineering goods, machinery, apparatus, tools, instruments, appliances, metals, alloys, iron, automobile parts, steels and stainless steel and iron products, hides, skins, leather goods, furs, bristles, tobacco (raw and manufactured ), hemp, seeds, oils and cakes, vanaspati, textile, fibre, coir, jute and products thereof, wood and timber, bones crushed and uncrushed, coal and charcoal, glue, gums and resins, ivory, lac, shellac, manures, pulp or wood rags, rubber, 55

Ready referencer tanning substance, petroleum & petroleum products, gases, wax, quartz, crystal, chemicals and chemical preparations, plastic linoleum articles, glass ware, handicraft items, handloom, toys, gold, precious stones, ornaments, jewelleries, pearls, drugs, medicines and pharmaceutical and biological products, instruments and appliances, soaps & detergents, paints, machinery and mill work and parts thereof, paper and stationery, newsprint, sport goods, cosmetics, films, rubber and plastic goods, batteries, surgical and musical instruments, marble and hardware items, calendars, all kinds of books and manuscripts, electrical and electronic products of all kinds, computer hardware & software, data processing, communication systems, air conditioning & refrigeration, sanitary ware and fittings, synthetic, cotton and woollen yarns and fiber, woollen textiles, natural fiber, cellulose and cellulose products, fruits, nuts, cashew â&#x20AC;&#x201C;nuts, kernels, grains, pulses, flours, confectionery items, alcohol, beverages, perfumes, spirits, spices, tea and coffee, sugar and molasses, vegetables and vegetable products, processes foods and packed food, agro and agricultural products, all kinds of fabric, garments and hosiery goods, agarbatti, dhupbatti, carpets, durries, mats, rugs, furniture and packing materials and all other articles of silk, cotton, woollen and worsted materials and all sorts of apparels, dressing materials. To carry on the business of manufacturers, producers: importers, exporters, retailers, distributors, agents and dealers in chemical, scientific apparatus, appliances, compounds, preparations, materials and requisites of all kinds, and of cements, ceramics, oils, paints, pigments, varnishes, drugs, dye wares, essences, essential oils, ingredients for aerated or mineral water and other drinks, soaps, cosmetics, perfumes, soap flavourings, toilet requisites and preparations, disinfectants and antiseptics, and or cordial, liquors, soups, broths and other restoratives and foods, abrasives & grinding, air-conditioners, alkalis, aluminium, automobiles, auto-ancillaries, bearings, breweries & distilleries, cables, carbon black, cement & cement products, ceramic tiles, cigarettes, civil construction, housing, cycles & accessories, decorative & laminates, diamonds & jewellery, domestic appliances, dry cells, dyes & dyes intermediaries, electrical equipments, switchgears, picture tubes, electrodes, engineering products, engines, entertainments, fasteners, ferro alloys, fertilisers, food processing, food products, forgings, glass, explosives, leather footwear & leather products, lubricants, machine tools, metals, mining, moulded luggage, furniture, office equipments, packaging & packaging products, paints, photographic & allied products, plastics, pollution control equipments, power, pumps & compressors, refineries, refractories, solvent extraction, sponge iron, pig iron, steel tubes, pipes, telecommunications, textile machinery, power transmission and tyres & tubes.

Butchers To carry on all or any of the business of wholesale and retail butchers, sausage and delicatessen manufacturers of ham and bacon curers, refiners of lard, poultry, rabbit and otherwise deal in meat and meat products, live cattle, sheep and pigs and other animals, hides, fats, tallow, grease and other animal products. To construct and operate slaughterhouses, cold storage premises, warehouses, sheds and other buildings requisite for the business of the company.

Cable Network To carry on the business of establishing , setting up, acquiring, taking on lease or otherwise acquire, run and maintain independently or jointly various types of communication, electronic and cable networks, cable TV channels, satellite channels; film and video studios in India or abroad; establish and provide facilities, equipment and labs for audio, video and feature film shooting, editing, recording and to 56

Collection of Main Object Clauses produce and distribute feature films, video, and entertainment films and to own, acquire on lease or otherwise any cable TV channels and use the same for commercial purposes.

Carpets & Rugs To carry on in India or anywhere in world, the business as manufacturers, buyerâ&#x20AC;&#x2122;s sellers, traders, importers, exporters, merchant exporter, departmental stores, distributors, stockiest, dealers, packers, re-packers, consultants and agents for all kinds of carpets, durries, mats, rugs, namdhas, tweeds, flannels, quilts, & tapestry. To carry on in India or anywhere in world the business of exporters, dealers and manufacturers in chains-stick, rugs, crewel embroidery, embroidered shawls, silks, paper machine and wood carving and all types of handicrafts and handloom products. To carry on in India or anywhere in world the business of exporters, agents and stockiest of goods produces in cottage industries, village industries and house industries and to finance such of them as, in the opinion of the Company is having export potential.

Carriers (General) To provide facilities for the storage, warehousing, carriage and distribution of merchandise by land, sea and air and to purchase, hire, take on lease or otherwise acquire any lands, docks, canals, waterways, warehouses, wharves, buildings or machinery, and to construct and equip them. To build, purchase, hire or take on charter any ships, tugs, barges, lorries, vans, trailers and other vessels or vehicles of any description. To carry on business as carriers of passengers, livestock, other animals and goods; as shipping, chartering, forwarding and transport agents; as stevedores, wharfingers, transport contractors and agents, cargo superintendents, packers and haulers; as warehousemen and proprietors of warehouses; and as coach and other vehicle proprietors, garage proprietors, and to establish and carry on business as tourist agency, travel bureau and booking office, and to act as customsâ&#x20AC;&#x2122; clearing agents.

Carriers Haulage and Transport To carry on business as general carriers and freight forwarders and to provide carrier freight transport, courier, truck, light or heavy haulage and delivery services by land, road, railway, sea, river, canal, water, or air for and in connection with any containers, packages, parcels, mails, goods or bulk commodities. To carry passengers by air, road, rail, land, sea or water, and to operate any taxi service and to construct, equip, maintain, work, purchase, sell, export, import, lease, hire, let on hire, repair, refurbish, or otherwise deal in any aircraft, ship, car, bus or any kind of vehicle or mode of transport. To carry, collect, receive, load, unload, store, consign, distribute, transfer and deliver goods, wares, merchandise, parcels, packages, baggage, freight, animals, livestock, timber, coal, oil, ores and other minerals and other property of every description by any mode of transportation, and generally for such purposes to acquire, manage and operate warehouses, and bonded warehouses, act as agents for shippers and consigners, and to issue warehouse warrants and receipts and bills of lading.

Ready referencer

Cement To produce, manufacture, treat, process, prepare, refine, import, export, purchase, sell and to deal in either as principals or as agents either solely or in partnership with others all types and kinds of cement and cement products such as pipes, poles, slabs, asbestos sheets, blocks, tiles, garden wares, plaster of paris, line pipes, building materials and otherwise and articles, things, compounds and preparations thereof. To carry on the business as manufacturers and sellers of and dealers and workers in of all kind lime, plasters, whiting, clay, gruel, gypsum, artificial stone and all builders requisition made out of cement and cement products.

Ceramics To carry on the business as manufactures, processors, assemblers, dealers, importers, exporters, designers, developers, producers, distributors, sellers, in all kinds of Porcelain, ceramic tiles wall panels, floor ties, and other porcelain and allied products, acid resistant and fire resistant refractories, bricks and tiles and their byproducts and their main and derivative industries including extraction and processing of raw materials required there for and the manufacture of machines and complete range of equipment for the ceramic and allied industries, glazes. To manufacture porcelain, chinaware, glassware articles of industrial and domestic application, to act as contractors, engineerâ&#x20AC;&#x2122;s erectors, fabricators, consultants in supplying, installing and laying the Companyâ&#x20AC;&#x2122;s products. To explore, extract smelt, refine, put to use any mineral product through Electro-metallurgical, Electrochemical and chemical-engineering processes and manufacture and deal in silicon carbide, silicomanganese, calcium carbide. To act as stockiest, distributors, agents, and brokers for sellers, buyers, exporters, importers, manufacturers, merchants, tradesmen and others and generally to undertake and carryout agency work of any kind whatsoever relating to the above business.

Chamber of Commerce To promote and protect the internal and external trade and the manufacturing industries and to provide for the formation and exchange of views on all questions connected with the conduct of any traders or manufacturers and to represent express and give effect to the opinions of traders and manufacturers on commercial or mercantile matters of all kinds, to promote or oppose Bills in Legislative Assembly or Parliament or other measures affecting such traders or manufacturers, to collect and circulate commercial statistics and information of all kinds. To undertake and arrange for the settlement by arbitration of trade disputes. To enter into agreements with other Chambers of Commerce and other bodies for the advancement of trade and manufacture and the protection of traders and manufacturers and to subscribe to and promote the aims and objects of any society or association having similar objects to all or any of the objects of the association and to encourage and support any society, association or movement for the improvement of commercial law. To subscribe to local and national charities and to grant donations for public purpose.

Collection of Main Object Clauses

Charitable Purpose To promote healthcare, education, social empowerment and rural empowerment on charitable basis. To promote mitigation of poverty in India, by carrying on Microfinancing Activities as permitted by the Reserve Bank of India, either directly or through self-help groups with the sole object of promoting the development in economies, wellbeing of urban and rural poor. No objects of the company will be carried out without obtaining prior approval/ no objection certificate from the concerned authorities, wherever required. None of the objects of the company will be carried out on commercial basis.

Coaching Institute To establish, setup, and run in any part of India coaching institutes , Study centre, oral coaching classes, where in professional, technical, vocational or higher education in every field of science, commerce, arts, management, engineering, law, banking, insurance, finance, medicine, hospitality, tourism, computers, or any other type of education be imparted by conducting regular , part time classes. To establish, develop, promote franchise, study centers in India or abroad for conducting regular, evening or weekend interactive classes and to get the necessary approval, permission required for this purpose. To enter in to Joint Venture, or collaborate with accredited educational institutions in India/outside India to provide such infrastructure assistance to such accredited educational institution and such other learning support on such terms and conditions as may be decided by the company from time to time.

Chemicals To carry on the business of manufacturing, processing, distilling, compounding, formulating, acquiring, buying, selling, importing, exporting and dealing in all enzyme products from animal, microbial, plant sources, products from fish sources, vegetable and herb extracts, agricultural products including cattle feed, and all chemicals heavy or fine, organic, inorganic, biological or any other formulations, derivatives and compounds thereof from mineral origin or from other chemicals or from by-products or waste products of other trades and industries and other branded preparations and compounds, derivatives and formulations thereof and consumers products based thereon, pharmaceutical specialties, surgical specialties, cosmetics, germicides, detergents and acids. To establish and run an extraction plant for the extraction of oils, coloring matters, crude drugs and other extracts from seeds, barks, cakes, flowers, plants in all forms for the production of natural colorants, alkaloids, steroids, other drugs and medicines and other products. To cultivate, crush, utilize, buy sell and deal in seeds, substances, and plants of every description.

Coke, Coal, Charcoal manufacturing To carry on the business of purchase, sale, manufacture, process, import, export, buyers, sellers, traders, merchants, distribution, deal in, to act as indent or agent, commission agent, distributors, wholesalers, retailers, broker, contractor, or otherwise deal with raw and process materials, semi products and end products of Low ash Metallurgical Coke, carbon, Chemicals, Coal, Coke, Petroleum Coke products, Calcined Petroleum Coke, Ferro Alloys, Electrodes, Petro Products and Petro Products of all kinds & specification and other allied items and industrial raw materials. To manufacture, purchase, sell, deal in soft coke, Special Smokeless Fuel(SSF) with coal tar recovered by 59

Ready referencer CMPDIL Technology, industrial coke, coke as substitute to Charcoal, processing and distillation of coal tar coal tar chemicals, any other type of coke and organic chemicals based on carbon and tar derivatives, charcoal, bone charcoal, activated charcoal, activated carbon, black or any other carbon products, dyes, dye intermediaries, coal mining, use of waste heat for processing or production of any article etc. To carry on in all its branches the business of manufacturers and dealers in carbon black of all types, gas black, ebony black, jet black, hydrocarbon black, satin black and silicate of carbon either from natural and/or artificial gas or from any other source.

Clinical Research To carry on the business of manufacturing, developing, exporting, importing and selling innovative medical products and services to improve the lives of patients with debilitating diseases in India or anywhere else. To carry on clinical research and development in multiple medical fields including but not limited to genetic disease, kidney disease, orthopedics, cardiovascular disease, cancer, immune-mediated disease and transplantation in India or anywhere else. To establish & maintain laboratories to carry on research in field as mentioned above

Cold Storages To construct, erect, build, equip, own, and maintain and to carry on business as keepers of cold storages, storages chambers, ice-plants, warehouses, refrigerators, freezing houses and room coolers and to carry on and undertake storage, packing, removal carrying delivery, purchases, sale and exchange of fish, seafood, marine products and processed fish, seafood, marine products meats, eggs, poultry products, protein foods, milk, cream, cheese, butter, bacons, sausages, fruits, roots, vegetables or other substances made of all or any of them and canned, tinned and processed foods of every description.

Communication Equipment To carry on the business of assembling, buying, selling, trading, reselling, exchanging, manufacturing, altering, modifying importing, exporting, hiring and to engineer, develop, design, produce, fabricate and to act as agents, sub-agents, distributors, traders, representatives and otherwise deal in all types, telecommunication equipments and consumer items and articles related thereto. To carry on the business of developing, designing, selling customized communication solutions, communication softwareâ&#x20AC;&#x2122;s, end to end solutions and licensed packages thereto. To carry on the business of assembling, buying, selling, reselling, exchanging, manufacturing, altering, modifying, importing, exporting, hiring and to engineer, develop, design, produce, fabricate, and to act as agents, sub-agents, traders, marketing, distributorâ&#x20AC;&#x2122;s, representative in computerized scientific equipments, photocopiers and other allied products and articles related thereto. To carry on the business as dealers, manufacturers, exporters, importers, makers, assemblers marketing in all type of communication devices, fax machines, telex, telephonic equipments, and their parts and accessories to provide services in relation to above communication devices and to provide all types of services in respect of business communication. To carry on the business of distribution of satellite television channels through cables. To act as authorized distributors, re-distributors of satellite television pay channels. 60

Collection of Main Object Clauses

Communication Towers To carry on the business of all kinds of communications, networks products and solutions, dealing in all equipment products and solutions related to telecom, radio, television, wireless networks and services and make available all equipment, products and solutions required for the telecommunications sector in India; provide post sales services. To carry on the business through ownership, management, operation, leasing and development of wireless and broadcast communication sites or towers, antenna systems/antenna space, wireless and radios broadcast transmission, Business Process Outsourcing and Information Technology facilities, and to operate through segments including but not limited to Rental Management and Network Development Services. To engage in the business of providing basic telecommunication services, IP-I services and IP-II services within and outside the territory of India. To provide Network development services for site acquisition, zoning and permitting service and structural analysis service that support site/tower leasing operation and addition of new tenants and equipments on the site/ tower. and to carry on research and development work in relation to any or all of the above and with particular relation to communication equipment. To carry on the business of building, establishing, setting-up, acquiring, developing, advising on ,managing, providing , operating and/or maintaining, facilitating conduct of fully or partially infrastructure facilities and services thereof for all kinds of value added services including payment gateway services, long distance telephony services, e-commerce services and data-com services, video tech access points, multimedia access points, internal access points, voicemail services, email services, video conferencing services, fax store and forward services, enhanced faxed services, internet services including basic and advance services and to carry on the business as advisors, suppliers, traders of data processing and information retrieval systems, virtual private network services and broad band network services, application services ATM services, data center services including hosting services, application services and co-location services, computer hardware and software of all kinds which incorporate use and used in conjunction with or ancillary to systems of such description as aforesaid and any of the apparatus and equipment comprised therein.

Corporate Advisory To carry on the business of providing all kinds of corporate advisory services in the areas of setting up of organization, project syndication, wealth management, portfolio management, investment advisory, financial planning, asset allocation, risk profiling, investment research cash budgeting, estate / will planning and taxation issues. To provide execute, undertake and provide services in the areas of investment research, institutional equity and fixed income investment planning, derivatives advisory and wealth management solutions that include portfolio management, investment advisory & financial planning. advise & consultancy for investments in financial products like mutual funds, RBI bonds, small savings investment plans, retirement plans and IPOâ&#x20AC;&#x2122;S. Strategic advice and provides critical financial advice in the areas of mergers and acquisitions, equity capital markets, strategic advice, privatizations, structured financial solutions, management of IPOs, rights issues, buy back offers, open offers, and private placements of equity, venture capital funds, private equity funds for equity placements, & to plan effective delivery platform for its clients To work as advisors and consultants and to provide services for project syndication, project loan 61

Ready referencer syndication, structured debt syndication, debt restructuring, mutual funds, banks, financial institutions, insurance companies and private sector funds. to provide consultancy for efficient execution, quality research and high degree of compliance in primary & secondary markets. it provides investment advisory in various products including govt. securities, treasury bills, bonds and debentures, state guaranteed papers and commercial papers. To undertake global research and advisory in any area and products, such as capital market research in equity, debt, knowledge of individual scripts and technical aspects of market price movements and to train and provide investment education? for financial and non-financial assets

Cosmetics To carry on business as manufacturers, producers, processors, makers, convertors, importers, exporters, traders, buyers, sellers, retailers, wholesalers, suppliers, indenters, packers, movers, preservers, stockiest, agents, sub-agents, merchants, distributors, consignors, jobbers, brokers, concessionaires or otherwise deal in all kinds of proprietary product, hair, skin, nail and other beauty preparations, deodorants, aerosol, pump spray products, baby products, petroleum and mineral oil products, chemicals, acids and alkalis, all kinds of perfumery and other compounds, preparations, materials and products, bath products, care products, cotton swabs, family planning appliances, hair dyes pigments, varnishes, essential oils, detergents, insecticides, oils, beauty specialties, preparations, aids and accessories of every description whether medicated, antiseptic or not, ingredients or accessories thereof and other materials or things capable of being used in connection with such manner, factor or business. To carry on business as manufacturers, producers, processors, makers, convertors, importers, exporters, traders, buyers, sellers, retailers, wholesalers, suppliers, indenters, packers, movers, preservers, stockiest, agents, sub-agents, merchants, distributors, consignors, jobbers, brokers, concessionaires or otherwise deal in all kinds of raw and finished cosmetics, perfumes and essences, dentifrices, lotions, extracts, greases, creams, salves, ointments, pomades, powders, unguents, eat de cologne, toilet requisites and preparations, cleansing compounds.

Departmental Store To carry on the business as buyers, sellers, traders, importers, exporters, merchant exporters, departments, stores, brokers, distributors, factors, stockiest, dealers, consultants, and agents, for any government, semi-government or autonomous body , organization of National or Friendly foreign origin of all type of medicines, medical & surgical equipment , chemical & chemical preparations, plastic and linoleum articles, glass, stones, and glass beds, ornaments, artificial & costume jewelries, pearls, drugs, and medicine soaps, paints, instruments, & apparatus, machineries, and mill work and parts, thereof, paper, stationary, pulp, wood raps, rubber, wax quartz, crystals, dhupbatti & all other agriculture produce and products thereof , furniture and packing material, all kind of computer and computer consumables, computer software development, computer hardware, communication, apparatus, & systems, electronics, and electrical items, ferrous and non-ferrous metals, and its, scrapes, and hardware items, bathroom, fittings and all other items. To act as export and import house in connection with business as referred to in sub-clause (1) above. To carry on the business as buyers, sellers, traders, importers, exporters, merchant exporters, department stores, brokers, distributors, factors, stockiest, dealers, packers, repacker, baller, consultants and agents, on such sweet shop & restaurants coffee shops.

Collection of Main Object Clauses

Dry Cleaners and Launderers To carry on all or any of the businesses of dry cleaners, launderers, dyers and laundry sundriesmen and the business of repairing tailors and a valeting service; to dye, color, bleach, wash, clean, dry, press, disinfect, renovate, waterproof and prepare for use articles of wearing apparel, household, domestic, or other linen, silk, cotton, woolen and fibrous goods, clothing and fabrics of every description, upholstery, carpets, furniture and other articles and substances, domestic or otherwise. To carry on business as manufacturers, producers, processors, makers, convertors, importers, exporters, traders, buyers, sellers, retailers, wholesalers, suppliers, indenters, packers, movers, preservers, stockiest, agents, sub-agents, merchants, distributors, consignors, jobbers, brokers, concessionaires or otherwise deal in chemicals, dyestuffs, detergents, soaps, disinfectants, and dyeing, bleaching, cleaning, dressing, finishing and other plant, machinery and apparatus; and all materials and substances capable of being used for the purposes of the above-mentioned businesses or any of them, or likely to be required by any of the customers of the company. To carry on all or any of the businesses usually carried on by dry cleaners, dyers and launderers of manmade fibers woolen, silken and cotton bearing apparels and clothing or cloths of every and all kinds of descriptions. To control, manage on payment of commission or otherwise dry-cleaning and washing plants and businesses of all kinds which may be deemed necessary or convenient for the running of any business which the company is authorized to carry on. To construct, erect, work, maintain, improve, alter or assist in the erection, construction, working, maintenance, improvement or alteration of any buildings, dry-cleaning plants or machinery or soaps and factories, plants, works, cars, wagons, lorries, carts and other works and to contribute to the expenses of constructing, improving, maintaining, working and repairing any of the same. To purchase, sell, manufacture, import, export or otherwise deal in all types of dry-cleaning plants, dryers, steam presses and household washing machines.

Electronics To carry on the business of manufacture including production and processing and fabrication and assembling, repairing, alternation, buying, importing, marketing, selling and exporting and otherwise dealing in all types of automotive components, electrical components, spare parts, products, equipments for all types of two-wheelers, passenger cars, light motor vehicles, multi-utility vehicles, heavy motor vehicles, All Terrain Vehicles (ATVs) and all other types of automobiles. To carry on the business of manufacturing including production and processing and fabrication and assembling, repairing, alternation, buying, importing, marketing, selling and exporting and otherwise dealing in all kinds of equipments, machinery apparatus, tools, assembles, spares, components, jigs, dies, utensils, commodities for manufacturing all types of automotive components and equipments. To carry on the business of manufacturing including production and processing and fabrication and assembling, repairing, alternation, buying, importing, marketing, selling and exporting and otherwise dealing in all types of electrical components for home appliance products. To carry on the business of manufacturing including production and processing and fabrication and assembling, repairing, alternation, buying, importing, marketing, selling and exporting and otherwise dealing in all types of telecommunication components. 63

Ready referencer To carry on the business of research and development, design, provision of technical assistance and licenses, consulting and otherwise of manufacturing systems including production control and quality control and improvement of production lines relating to above objects.

Earthworks To carry construct, operate, provide, procure, dispose, distribute install, repair, maintain facilitate roads, pipelines, dams, bridges, flyovers, pathways, under bridges, sub-ways, electric installations, towers, single, buy mooring, mooring systems, jetties, and operating plate forms, communication services facilities including letting out, hire out rent out of various machinery, equipment or other capital goods, heavy earthmoving equipments, dozers vibe rollers, cranes, D.G. sets, raw material, construction material accessories technology knowhow for any of the aforesaid object. To purchase, develop construct renovate repair, maintain, acquire or dispose off whether for or for resale any building whether commercial or residential , factory, shed, building, mills, houses, cottages, shops, ware houses, godowns farmhouse, parks mineral rights, concessions, privileges, licenses, easement or internet in or with respect to any immovable property whatsoever in consideration for gross sum or rent or partly in one way and partly property in other or for any other consideration.

Engineering To carry on in India or elsewhere the business as designers, researchers, developers, manufacturers, buyers, assemblers, modifiers, installers, reconditioners, sellers, hirers, sublessors, market makers, dismantlers, repairers, operators, exporters, importers, distributors, and to act as an agent, broker, adatia, consignor, indenting agent, C&F agent, representative, correspondent, franchisers, stockist, supplier, vendor, transporter, collaborator, export house or otherwise to deal in all its branches in automatic, semiautomatic, manual or other types of tools, tackles, instruments, apparatus, systems & equipments, including lathes, turret-lathes, capstan lathes, engine lathes, drills, drilling machines, shaping machines, planting machines, milling machines, grinding machines, slotting machines, broaching machines, lapping machines, weighting machines, wrapping machines, filtration equipments, franking machines, hydraulic machines and pneumatic machines, punching machines and other allied goods, whether used for special operations or for general operations, and whether operated from human, electrical, magnetic, electromagnetic, chemical, electrochemical, photochemical, solar, tidal wind, nuclear, thermal, thermonuclear or other forms of energy and their parts, products, assemblies, components, instruments, raw materials, display units, control devices, elements, gadgets, circuits, micro circuits, used in machine tools including boules, bars, slices, rounds, wafers, sheets, clips, micro clips, powders, fluids, gases, solids which may be polished, processed, coated, fused, diffused, or otherwise treated and to do all incidental acts and things necessary for the attainment of the above said objects.

Electronic Kilowatt / Hour Meters To manufacture and / or produce and / or otherwise engage generally in the manufacture or production of or dealing in electrical kilowatt / hour meters, magnets, electro magnets, power cable, industrial jewels, ammeters, voltmeters and other type of measuring instruments, electrical or non-electric, die castings, screws, nuts and bolts, transformers of all types circuit breakers, punched card machine, computers and calculators, hoist elevators, trolleys and coaches, winches, power generators, magnetic separators, winders, air compressors, welders fans of all types, switches and motors of all types, drill, electric grinders, air conditioners, refrigerators, domestic washing machines, television and wireless apparatus including radio receivers and transmitters, electronic instruments, diods transistors and allied items, watches and clocks, 64

Collection of Main Object Clauses cameras and any other household appliances and any equipment used in generation, transmission and receiving of sound light and electrical impulses, and components parts thereof and other materials and products in India and elsewhere.

Electronics To manufacture, trade, develop, import, export, buy, sell, (on installments hire purchase, or other basis) distribute, services, repair, convert after, let on hire and otherwise deal in electronics, electrical, electromechanical technical components equipmentâ&#x20AC;&#x2122;s, heater & other types of ups, cvt stabilizers fans coolers of air cooling refrigerator, heater & other type of domestic & industrial heater assemblies & instrumentation for air condition. Medical equipmentâ&#x20AC;&#x2122;s office equipment, computer and other industrial domestic, appliances, and similar article/products devices & their accessories, stores, raw material spares, parts, components, assemblies and all kinds of control devices, instruments, appliances, apparatus, and measuring instruments used their in. To render consultancy services, know-how and technical collaboration in the field of human resource, development, market surveys, teanderlity reports, designing project planning execution supervision/monitory liaison for light, heavy other electronic items and other appliances thereof. To carry on business of dealers, exporters, importers, traders, suppliers, distributors, merchants stockiest, hirers, leasers, buyers, sellers, consultants, and agents, jobbers, referred in clause (1).

Entertainment To carry on in India or outside India or elsewhere the business to present, produce, arrange, manage, organize, conduct, sponsor, compose, edit, plan, design, exhibit, demonstrate, promote, operate, participate, collaborate and run at national and international level all sorts of shows and modeling, films, programmes of song, music, dance, film star, pop star, T.V. channels, entertainment web-sites and for the purpose to engage, book or hire artists, authors, story writers, musicians, models, performers, and other persons and agencies . To carry on the business of production, distribution or exhibition of films and motion pictures and the running of theatres, cinemas, studios, and cinematographic shows and exhibitions. To carry on at any place or premises all or any of the businesses of circus, concert hall, amusement parks, theme parks, cinema, ballroom, hippodrome, night-club, super-club and theater proprietors and agents; box-office keepers, ticket agents, showmen, exhibitors, song, music, play, programme and general publishers, printers, scene, proscenium and caterers for public and private amusements and entertainments of every description. To carry on the businesses of entertainment promoters, sports promoters, artistes, managers and representatives in all or any spheres of entertainment and sport. To provide on such terms as may seem expedient all or any of the management, secretarial, advertising, publicity, accountancy, merchandising, personal and social facilities and services required or used in connection with their professional engagements by artistes and others engaged in theatrical, film, radio, television entertainment or sporting activities.

Educational Institute To set up laboratories, purchase and acquire land for establishment of Institute, equipment and instruments required for carrying out medical investigation and to educate and train medical students, 65

Ready referencer nurses, midwives and hospital administrators and to grant such certificates or recognitions as the company may prescribe or deem fit from time to time and to grant stipends, scholarships or any other assistance monetary or otherwise to whomsoever to further the course medicine and / or medical research. To carry in-house medical research by engaging in the research and development in all fields , systems of medical sciences and in diagnostics and medical treatments and to develop new technologies so as to afford medical relief in a better way. Further, to collect primary and secondary data and make statistical analysis and apply the findings for furthering medical research and maintain, generate and upkeep intellectual rights, properties and privileges in medical sciences, research, development and innovations and to patent the same and / or register and trade mark(s) and to make use of the same by sale / export / let on hire either for commercial or other purposes. To provide, encourage, initiate or promote facilities for the discovering, improvement or development of new methods of diagnosis, understanding and prevention and treatments of diseases by adopting commercialized imported technology and by significant improvements in existing product / process / application and to initiate development of technology and to apply this technology in the medical field and also in areas of telemedicine etc, using computer applications to meet the medical standards and also benefit the public by these applications. To carry on the research and developmental activities to develop new products and substitute for imported products and to develop and maintain testing house and laboratory for own use and for others and healthcare institutions and to promote research and development in these areas.

Exploration and prospecting To purchase, take on lease or otherwise acquire freehold and other lands, properties, mines and mineral properties, and exploration rights, concessions, leases, claims, licenses of or other interests in mines, mining and offshore rights, mineral properties and water rights, either solely or jointly with others. To prospect, explore, develop and work claims or mines, drill and sink shafts or wells and raise, pump, dig and quarry for gold, silver, minerals, ores, diamonds and precious stones, oil, petroleum, natural gas, coal, earth, and other substances. To acquire by purchase, concession or lease, to take in exchange or otherwise, or to erect, construct and alter, buildings, railways, roads, shafts, furnaces, crushing and other machinery, works for smelting or otherwise treating, removing and storing metals and minerals, and for crushing, working, manufacturing, purifying, cutting, polishing or otherwise processing precious metals, diamonds and precious stones, minerals, ores, earth and other substances. To employ and pay mining experts, agents, and other persons, partnerships, companies or corporations, and to organize, equip and dispatch expeditions for prospecting, exploring, reporting on, surveying, working and developing lands and properties, whether owned by this company or not, and to make advances to, and pay for or contribute to the expenses of, and otherwise assist persons or companies prospecting, acquiring, settling on, farming, building on, mining, or otherwise developing any lands and properties, or desirous of so doing. To carry on business as land and mine owners, miners, metallurgists, metal workers, builders and contractors, engineers, manufacturers, farmers, vehicle and equipment proprietors, traders, ship-owners, ship brokers, importers and exporters, and to buy, sell and deal in property of all kinds.

Collection of Main Object Clauses

Food To carry on the business of process, produce. Mix, pack, preserve, freeze, extract, refine, manufacture, import, export, buy, sell, trade and deal in processed foods, health foods, protein foods, food products, agro foods, fast foods, packed foods, poultry products, sea foods, milk foods, health and diet drinks, extruded foods, frozen foods, dehydrated foods, precooked foods, canned foods, preserved foods, bakery products and confectionery items such as breads, biscuits, sweets, cakes, pastries, cookies, wafers, condoles, lemon drops, chocolate, toffees, tinned fruits, chewing gum, bubble gum, detergents, tea and coffee, vegetables, fruits, jams, jelly, pickles, squashes, sausages, nutrient, health and diet foods / drinks, extruded foods, confectionery items, sweets, cereals products and any other food products in and outside India. To carry in India or elsewhere the business to process., prepare, disinfect, fennentate, compound, mix, clean wash, concentrate, crush, grind, segregate, pack, repack, add, remove, heat, grade, preserve, freeze, distillate, boil, sterilize, improve, extract refine, buy, sell, resale, import, export, barter, transport, store, forward, distribute, dispose, develop, handle, manipulate, consultant, collaborator, adatia, stockists, liasioner, middleman, export house, jobworker or otherwise to deal in all types, descriptions, tastes, uses and packs of consumer food items, their by products, ingredients, derivatives, residues, including foods and vegetables, packed foods, powders, pastes, liquids, drinks, beverages, juices, jams, jelly, squashes, pickles, sausages, concentrates, extracts, essences, flavours, syrups, sarbats, flavoured drinks, cream, cheese, butter, biscuits, breads, cakes, pastries, confectionery, sweets, chocolates, toffees, fun foods, breakfast foods, dietic products, strained baby foods, instant foods, cereal products, table delicacies and all other items whether natural, artificial or synthetic. To carry on the business of processing, farming, manufacturing, distributorship, agency, broker, factors, stockiest, importer and otherwise deal in all kinds of organic and inorganic foods products and drinking products, mineral water, soft drinks, aerated mineral water, fruit drinks, artificial flavoured drinks, condensed milk and drinking products of all kinds and other consumable provision of every description for human consumption. To carry on the business of hotel, restaurant, and snack bars and catering. To import and export of all kinds and types of food products and drinks.

Farming, Horticulture and Processing To carry on the business of farming, horticulture, floriculture, sericulture, dairies, cultivators of all kinds of food grains, seeds, fruit, proprietors of orchard and traders, exporters and sellers of and dealers in products of farming, dairy, horticulture, floriculture, sericulture and porciculture and fishing and manufacturers of drinks, alcoholic or otherwise including beverages produced from such products or otherwise. To carry on the business of cultivators, growers, manufacturers, millers, grinders, rollers, processors, cold-stores, canners and preservers and dealers of food grains and other agricultural dairy, horticulture and poultry products, fruits, vegetables, herbs, medicines, flowers, drinks, fluids, gas and fresh, and preservable products. To extract by products and derivatives, whether edibles, pharmaceuticals, medical or of any kind or nature whatsoever and food preparations of every kind and description. To carry on all or any of the business of farmers, pastoralists, grazers, agriculturalists, orchardists, nurserymen, market gardeners, harvesters, stock breeders, stud masters, wool growers, sheep shearers, wool scourers, and to carry on business as manufacturers, producers, processors, importers, exporters, 67

Ready referencer traders, buyers, sellers, retailers, wholesalers, suppliers, indenters, packers, movers, stockiest, agents, sub-agents, merchants, distributors, consignors, jobbers, brokers, concessionaires or otherwise deal in farm, dairy, agricultural and garden produce of every description. To purchase and acquire, sell and dispose of, deal in, import, export, breed and fatten cattle, sheep, horses, pigs, poultry, game and livestock of every description, animal feedstuffs, animal semen, chemicals, vitamins, hormones and other substances related to breeding or treatment of livestock and poultry and other commodities, goods or things connected therewith or related thereto. To carry on business as manufacturers, producers, processors, importers, exporters, traders, buyers, sellers, retailers, wholesalers, suppliers, indenters, packers, movers, stockiest, agents, sub-agents, merchants, distributors, consignors, jobbers, brokers, concessionaires or otherwise deal in cheese, butter, yogurt, condensed and tinned milk and every form of milk sold in containers or of a special grade or equality, egg powders, powdered milk and all other products of farm produce.

Fertilizers and Chemicals To carry on the business of manufacture, imports, exports, distributors, dealers , and agents in ago chemical products, fertilizers and insecticides, pesticides chemical manure including nitrogenous, phosphoric , potassium like urca, ammonium sulphate, ammonium nitro phosphate and other nitrogen allied chemicals, super phosphates, single, double, triple and allied phosphoric manures, potassium manures and granulated manures, mixtures of N.P.K different composition and of different proportions of N.P.K, di-ammonium phosphates, muriate of potash, dolomite gypsum, organic manure, leather meat, bone meat, hoofs and horns, meat bone, grist, sterilized animal meat, potassium chloride, crystals, sodium nitrate, fertilizers, mixture of calcium nitrate and ammonium nitrate (and ) mixture of calcium nitrate and magnesium nitrate and also in all types of liquid and vegetable fertilizers. To carry on the business of manufacturing, refining and preparing all classes and kinds of fertilizers and all classes and kinds of chemicals including petro chemicals and plastics and industrial and other preparations arising from or required in the manufacture of any kind of fertilizers and chemicals and to carry on any operation or processes of mixing, granulating different chemicals or fertilizers. To manufacture acids, alkalies, corrosive, anti- corrosive substances, non-corrosive substances, all kinds of chemicals and petro chemicals as elements and intermediates moderators or in mixture or compound forms. To buy, sell, import, export, treat in and deal in any kind of chemicals, petro chemicals and plastics, fertilizers or other things which the company is authorized to manufacture and any raw materials required for the manufacturing of any chemicals or fertilizers or other things which this company is authorized to manufacture.

Film Equipmentâ&#x20AC;&#x2122;s To carry on the business of manufactures, producers, exporters, importers, hirers, dealers, distributors and exhibitors of raw films, chemicals, photographic and optical goods, cinematographic films, video cassettes, apparatus, recorders, machinery and equipment pertaining to or required for the film developing, printing , processing, editing, sound recording, re-recording, transferring, dubbing of sound, video taping, transferring film to video, duplicating video cassettes, discs or any format and to edit various formats. To arrange, produce, secure, procure, acquire, retain, purchases, publish, dispose of and distribute 68

Collection of Main Object Clauses advertisement films, TV serials, feature films, and programmes of educational, cultural, devotional, industrial, health entertainment, family welfare, tourism, Government and of other of interest.

Film Production and Distribution To carry on in India or outside India or elsewhere the business to present, produce, arrange, manage, organize, conduct, sponsor, compose, edit, plan, design, exhibit, demonstrate, promote, operate, participate, collaborate and run at national and international level all sorts of shows and modeling, films, programmes of song, music, dance, film star, pop star, T.V. channels, entertainment web-sites and for the purpose to engage, book or hire artists, authors, story writers, musicians, models, performers, and other persons and agencies. To establish, purchase, take on lease or hire or otherwise acquire and maintain and to sell, give on lease or hire studios, laboratories, cinemas, picture places, halls, theatres, etc. for production, processing and printing of films. To carry on the business of exhibiting and distributing cinematographic films, television films, video films and acquire or selling rights therein. To act as manufacturers, distributors, purchasers and sellers of all kinds of films and to produce and distribute motion pictures and to act as distributors and exhibitors of motion pictures produced by other companies. To carry on the business of film manufacturers, film apparatus manufacturers, film producers, both sound and silent, hippodrome and circus proprietors, picture places and studios. To carry on the business of letting or subletting the use of cinema hall, theatres, picture, places, studios or other machinery, apparatus, building or structure of the company for the purpose use, exhibitions, display of films, dramatic or theatrical performances, concerts or other entertainment, of amusements or objects allied to or of similar kinds as of the company and to provide for similar kinds as of the company and to provide for the production, directions, exhibitions, representation display, whether by mechanical means or otherwise of plays, open air or other theatrical performances, operas, vaudevilles, ballets, pantomime, juggling , mesmetic, yogic hypnotic, spectacular

Finance and Investment Consultants To carry on the business of an investment trust company and to underwrite, sub â&#x20AC;&#x201C;underwrite, to invest in, and acquire and hold, sell, buy or otherwise deal in shares, debentures, debenture-stocks, bonds, units; obligations and securities issued or guaranteed by Indian or Foreign Governments, State, Dominions, Sovereigns, Municipalities, or Public Authorities or Bodies and share, stocks, debentures, debenture stocks, bonds, obligations and securities issued and guaranteed by any company, corporation, firm or person whether incorporated or established in India or elsewhere. To act as financial consultants, management consultants, and provide advice, services, consultancy in various fields, general administrative, secretarial, commercial, financial legal, economic, labor, industrial, public relations, scientific, technical, direct and indirect taxation and other levies, statistical, accountancy, quality control and data processing. To take part in the formation, supervision or control of the business operations and any company or undertaking and for that purpose to act as an Issue House, Registrars and Share Transfer Agents, Secretaries, Financial Advisors or Technical Consultants or in any other capacity and to appoint and remunerate any directors, administrators or accountants or other experts or agents. 69

Ready referencer To reserve money on deposit at interest or otherwise for fixed periods, and to lend money on any terms that may be thought fit and particularly to customers or other persons in corporations having dealing with the Company. The Company shall not carry on any business of banking as defined by the Banking Companies Act, 1949 or any statutory modification thereof. To manage investment pools, mutual funds, syndicates in shares, stocks, securities, finance and real estate. To act as Investment Consultants, stock brokers, underwriters and to invest or subscribe for purchase or otherwise, acquire and sell, dispose of exchange, hold and otherwise deal in shares or other securities issued by any authority Central, State, Municipal, Local or otherwise and to carry on the business generally carried on by investment companies. To carry on the business of financial and investment consultants, finance brokers, stock brokers, underwriters, registrars, issue house, portfolio management and to invest or subscribe for purchase or otherwise acquire and sell, dispose of, exchange, hold and otherwise deal in shares or other securities issued by any authority Central, State, Municipal Local or otherwise and to carry on the business generally carried on by finance and investment companies. To act as consultants or advisors of any firm, body corporate, association or other undertaking and generally subject as aforesaid, to act as consultants or advisors and to undertake part in the management supervision or control of the business or operation of any person, firm, body corporate, association or other undertaking and, if necessary, for such purpose or purpose to appoint and remunerate any offices of the company, accountants or other experts or agents. To carry on the business as financial advisors and to advise and assist in all financial, costing, accounting internal control and other similar matters to advise and assist in the preparation of all revenue and capital budgets, developments of funds, long term planning or utilization of resources, procuring bank and institutional finance including cash, credit facilities, overdraft facilities, subscription of debentures and term loans, to assess the needs of short and long term credit facilities and raising of resources, to advise and assist in the formulation of procedures for prevention of fraud, wastage, financial and cost accounting procedure and other connected matters to advise and assist in formulating long term financial policies and control of their execution, and generally to advise and assist in all financial, fiscal and revenue matters.

Financial Services To carry on the business of providing consultancy or advisory services related to project finance and personal finance, loan syndication, to act as marketing agents of banks, financial institution and Financial service providers To carry on the business of an investment company and to invest the capital and other moneys of the company in the purchase or upon the security of shares, stocks, units, debentures, debentures-stocks, bonds, mortgages, obligations and securities of any kind issued or guaranteed by any company, corporations or undertakings of whatever nature whether incorporate or otherwise and whosoever constituted or carrying on business and to buy , sell or otherwise deal in shares, stocks, debentures stocks, bonds, notes , mortgages, obligations and other securities issued or guaranteed by Government, Sovereign, Ruler, commissioners, trusts, municipal, local or other authority or body whatsoever nature in Indian or abroad To carry on the business of merchant bankers, lead managers, management consultants, project appraisals, loan syndication, structured debt syndication, debt restructuring and advisors on all aspect 70

Collection of Main Object Clauses of corporate financial and commercial matters and to act as an asset management company and/or to sponsor the set-up of mutual funds, asset management company and trustee company in India or anywhere in the world

Fire Fighting Equipment’s To carry on business, manufacturing, selling, purchasing, importing, exporting, servicing, acting as agent, broker and otherwise dealing in all types of fire extinguishers, firefighting and safety equipment’s, breathing equipment’s, life saving devices and other engineering goods, instruments, appliances, equipment’s, accessories and component parts. To provide all services including consultancy and contract services relating to pollution control, corrosion prevention, testing, firefighting, safety, security, waste disposal, port and harbor development, to generate, develop, extract, manufacture, deal in, sell hire or lease as case may be, energy, food and other products or by products from the sea, harbors, estuaries, rivers, lakes, dams and other sources through hydraulic, physical, chemical or other means or processes and to manufacture, parent.

Fishing Trawlers To carry on the business manufacturing , buying , selling , acting as agent, import, export of and deal in either as principals or agents by sale, purchase or by letting, hiring or otherwise to enter into contract(s) for takeover, negotiable or otherwise acquire any trawlers, deep sea fishers, fish carriers, fish curers, wholesale and retail fish merchants, cold storage keepers, warehouse men, utilizers of fish refuse, marine storekeepers, drivers, auctioneers, assessors, wharfingers, carriers and rewarding agents and also to carry on the business as manufacturers, importers and exporters of bass of jibs, ice, fish and other implements, apparatus, instruments and processing and canning of the products of the company.

Flour Mills To carry on the business of millers in all its branches and to set up mills for milling wheat, gram, other grains and cereals, dal, basin, Maida, Atta, suji and other allied products, and to manufacture food products; such as biscuit, flakes, Dalia and confectionery from flours or all kinds and description and to set up factories or mills for the manufacture thereof. To carry on the business of producing, extracting, refining, storing, exporting, importing, transporting and dealing in flour of all kinds and description whatsoever and to construct and run flour mills of any kinds or description. To carry on business as manufacturers, producers, processors, importers, exporters, traders, buyers, sellers, retailers, wholesalers, suppliers, indenters, packers, movers, stockiest, agents, sub-agents, merchants, distributors, consignors, jobbers, brokers, concessionaires or otherwise deal in all machinery used in the manufacture of flour, dal, basin, biscuit, flakes and allied products.

Fluid control Products and Valves To carry on the business of manufacturing, assembling, repairing, buying, selling, exchanging, altering, importing and exporting, letting on hire, distributing, or dealing in all kinds of and description of Fluid Control Products, Piston Valves, Ball Valves, Level Indicators and all other types and ranges of valves 71

Ready referencer and components, spare parts, stores and accessories and fitting appliances, apparatus of all kinds and all things capable of being used therewith or in the manufacturing and maintenance for working thereof respectively. To carry on the business of manufacturers of, dealers in, hirers, repairers, cleaners, stores and warehouses, exporters and importers of all sealing products including gaskets, Friction material, brake linings, clutch facings, components for general industrial use and for the Automotive Industries and in particular for Motors cars, lorries, motor cycles, airplanes, Bicycles and carriages, amphibious, vehicles suitable for propulsion on land, sea or in the air, or in any combination thereof, and vehicles of all kinds whether moved by mechanical power or not.

Food Processing To manufacture, process, prepare, preserve, can, refine, bottle, buy, sell and deal whether as wholesalers or retailers or as exporters or importers or as principals or agents in foods, meats, egg, poultry, vegetables, canned and tinned and processed foods, , deep frozen foods including sea foods, deep frozen vegetables, deep frozen cooked and semi cooked varieties of food, preserved fruits, protein, health and instant foods of all kinds including baby and deistic foods, cereals, beverages, cordials, tonics, restoratives and aerated mineral waters and food stuffs and consumable provisions of very description for human or animal consumption and to carry on business in all natural, artificial, synthetic or chemical edible food color. To transact and carry on business as manufacturers, importers and exporters of all sorts of fruits, food, foodstuffs, canned fruits, chocolates, candies, jams, preserves, jellies, peppermints, juice, syrups, beverages, waters, wines, cordials, restorative and drinks of all kinds. To carry on the business of manufacturers and merchants and dealers and distributors of canned food, packed food, squashes, aerated water, mineral water, syrups, soft drinks, fruit drinks, milk and milk products and beverages of every description. To carry on business as brewerâ&#x20AC;&#x2122;s distillers and manufacturers of and merchants and dealers of squashes, syrups, aerated water and of casks, bottles and other receptacles for the same, and of malt, hops, grains, meal, yeast and all other material and things capable of being used in connection with any such manufacture of business. To bottle and sell and distribute sterilized flavored milk and to bottle and sell and distribute the beverages and to produce, store, purchase, sell, import, export and otherwise deal in flavored milk and beverages. To cultivate, tea, coffee, cinchona, rubber, all kinds of fruits, vegetables, flowers and trees and to carry on the business of tea planters in all its branches, to carry on and work the business of cultivators, winnowers and buyers of every kind of fruits, dried or otherwise vegetables, flowers, mineral to prepare, manufacture and render marketable any such produce and to sell, dispose of and deal in any such produce, either in its prepared, manufactured or raw state and either by wholesale or retail. To cultivate, grow, produce or deal in any dairy products and to carry on the business of farmers, dairymen, contractors, dairy farmers, millers, purveyors and vendors of milk, cream, cheese, butter, poultry and provisions of all kinds, growers of and dealer sin corn, hay and straw, seed men, and nursery men and to buy, sell and trade in any goods usually traded in any of the above business or any usually traded in any of the above business or business associated with the farming interest which may be advantageously carried on by the company. 72

Collection of Main Object Clauses To purchase, sell, import, export produce or otherwise deal in preserved vegetables tinned fruits and all types of food products, food grains, develop and exploit farms, horticulture, agricultural, animal husbandry, dairy, poultry and allied farming business to assist anyone in this business and to carry on the business of farming and aerial spraying. To acquire, collect and gather by finishing or purchase all varieties of sea-food (including prawns, shrimps, lobsters, pomfrets) and to process, pack and prepare the same for sale and export. To carry on the business as producers of and dealers in food stuffs and good products of every description whether for human animal or poultry consumption, fish, milk, butter, cream, cheese, oil, fruits, vegetables, confectionery, sweet-meats, sugar, jams, jellies, pickles, drinks, beverages or as distillers and masters in all its branches.

Foot Wear To carry on business in and outside India as manufacturers, producers, processors, repairers, importers, exporters, traders, buyers, sellers, retailers, wholesalers, suppliers, stockiest, agents, sub-agents, merchants, distributors, consignors, jobbers, brokers, concessionaires or otherwise deal in all types of boots, shoes, clogs, all kinds of footwear, rubber, and plastic goods, boots, trees, laces, buckles, leggings, boot polish, purses, bags, boxes, belts and accessories and fittings. To carry on business as manufacturers, producers, processors, importers, exporters, traders, buyers, sellers, retailers, wholesalers, suppliers, indenters, packers, movers, stockiest, agents, sub-agents, merchants, distributors, consignors, jobbers, brokers, concessionaires or otherwise deal in all types of leather tanning machines, leather sewing and cutting, finishing machine, tools and implements.

Founders and Forgers To carry on business as iron masters, iron founders, iron workers, steel makers, blast furnace proprietors, brass founders and metal makers, refiners and metal makers, refiners and workers generally ship builders and shipwrights, dock and wharf proprietors, colliery proprietors, ore importers and workers, sandblast workers, mechanical engineers, electrical engineers, construction engineers, marine engineers, civil engineers, consulting manufacturers, mill wrights, wheel wrights, cement and asbestos, manufacturers, wood and timber merchants, joiners, woodworkers, manufacturing chemists, quarry owners, brick and tile manufacturing, galvanizers, machinists, japanners, annealers, wecklers, enamellers, electro and chromium platers, polishers, painters, warehousemen, storage contractors, garage proprietors and oil merchants and contractors generally. To carry on business as manufacturers and repairers of and dealers in forgings, castings, guns, projectiles, plates, boilers, engines, stoves, screws, nails, sewing machines, machinery, presses, implements, gears, motor cars, tools, and engineering products and suppliers of all kinds, motor buses, omnibuses, coaches, tramcars, locomotives, railway carriages and trucks, and other vehicles, airplanes, seaplanes, airships and other aircrafts, ironmongery and hardware and wireless goods. To set up steel furnaces and to carry on the business of iron founders, metal founders, metal presses, metal rollers, metal work, rolling mills, metal converters , manufacturers of metal hinges and other utensils, mechanical engineers and manufacturers of workshop equipmentâ&#x20AC;&#x2122;s, ball and roller bearings, compressors, medium and light machines and tools, industrial and agricultural implements and machinery, power driven or otherwise, brass founders, boiler makers, mill wrights, mechanists, galvanizers, electroplaters, iron and steel converters smiths and to buy, sell, manufacture, repair, convey alter let on hire and deal machinery, implements rolling stocks, rolling stock metal and hardwareâ&#x20AC;&#x2122;s of all kinds. 73

Ready referencer

Foundry Equipment To carry on the business as manufacturers, fabricators, producers, importers, exporters, dealers, agents, stockiest, retailers, traders or brokers of all kinds of foundry equipmentâ&#x20AC;&#x2122;s, mould boxes, ingot Moulds, material handling equipmentâ&#x20AC;&#x2122;s, tools, machine tools, gadgets, accessories, spares and machinery including steam engines and turbines, internal combustion engines and other types of prime movers, Industrial machinery especially for textiles, jute, rayon, sugar, tea, mining, metallurgical, cement, glass, chemical, pharmaceuticals, and paper industries general items of machinery such as equipmentâ&#x20AC;&#x2122;s for various units, processes including size reduction equipment. Covering equipment, size separation units, mixers and reactors, centrifugal machines, evaporators, distillation equipment, crystallizers, driers, power driven pumps, reciprocating centrifugal and the like, air and gas compressors and vacuum pipes, electrical furnaces, refrigeration and firefighting equipment, high tensile bolts and nuts, expanded metal fishing hooks and tackle, grinding wheels, segments and media, pins and malleable castings. To carry on the business of iron founders, civil and mechanical engineers, consulting engineers, project engineers, technical consultants and manufacturers of agricultural, industrial and other machinery and toll, kits, machine tool makers, stainless steel makers, fabricators, smelters, manufacturers of tools and implements and iron and alloy founders brass founders, metal workers, boiler makers of locomotive and engines of every description, millwrights, machinists, iron and steel, converters, smiths, wood workers, builders, painters, chemists, metallurgist, electrical engineers, water supply engines, gas makers, framers, printers, carriers and to buy, sell, design specify, manufacture, fabricate export, import, repair, convert, alter, let on hire and deal in machinery, implements, plants, tools, tackles, instruments, rolling stock and hardware, of all kinds, general fittings, accessories and appliances of all description made of metal alloy, glass or any other material and any parts of such accessories or fittings and generally to carry on business as merchants, importers and exporters and to transact and carry on all kinds of agency business.

Fuel and Other Oils To carry on the business of manufacturers ,producers, processors, makers, inventors, convertors, importers, exporters, traders, buyers, sellers, retailers, wholesalers, suppliers, indenters, packers, movers, preservers, stockiest, agents, sub-agents, merchants, distributors, consignors of, importers and dealers in fuel and other oils, petroleum of every kind and the business of refineries of such oils and all accessories required for petroleum and the manufacture of lubricating oils and all accessories required for the equipment and operation of the said oil wells and refineries and to manufacture, sell, deal, import and export the by-product of petroleum and lubricating oils. To carry on the business of manufacturers, importers, exporters and suppliers of coal, fuel, mill gin stores, leather beltings, bleaching materials, sizing materials, lubricating oils, refined oils, packing materials, machinery, spindles, looms parts accessories and materials required or necessary for any textile, jute, silk, or woolen mill and all other articles, made of leather, rubber, canvas and other material. To buy, sell, manufacture, produce or otherwise deal in petrol, oil, lubricants, spirit, kerosene, gas and other motive power necessary or required for motors and other vehicles and for other purposes and to supply tyres, tubes, spare part, accessories, machinery and upholstery required for any car of another vehicle. To carry on the business of manufacturing, importing, exporting, distributing, selling, buying, marketing, mixing and dealing in special smokeless fuel and its by-products derived from coal and allied substances, carbon, coal, natural coal, coke and other cokes, coal tar, pitches, carbonetrachloride 74

Collection of Main Object Clauses processing by chemicals, petrochemicals and prepare in all varieties and sizes and in all organic components.

Fuel Conservation Equipment To carry on business as manufacturers, producers, fabricators, importers, exporters, traders, buyers, sellers, retailers, wholesalers, suppliers, stockiest, agents, sub-agents, merchants, distributors, consignors, or otherwise deal in all kinds of equipment for improving the fuel efficiency and to increase the level of operational output of engines and automotive and non-automotive applications. To design, fabricate, assemble, produce, service and or manufacture related equipment in the field of fuel conservation and operation efficiency for use in automotive, marine, aircraft, industrial, domestic and other applications and other allied field or conservation of fuel and energy either alone or with the help of or in collaboration with others and to undertake and carry on research and devolvement activities in the above fields. To market the related equipment in the field of fuel/energy saving systems and/or ancillaries, fabricated, assembled, produced and manufactured by the company and or acquired by the company on global basis. To acquire, own, impart, market, own as well as other technical know-how for the conservation of fuel/energy and other allied fields including import and sell related equipment and devices in the field or fuel/energy saving systems as representatives, agents or otherwise.

Fuel Injection Equipment To carry on the business of manufacturers, assemblers, exporters, importers and dealers in all types of fuel injection equipment and parts thereof and all types of combustion engines including oil and petrol engines, gas turbines, steam turbines, boilers, locomotives, road rollers, automobiles, trucks, tractors and accessories and parts and equipment thereof and all types of prime movers, machine tools and industrial and agricultural machinery and plant and implements and accessories and parts and equipmentâ&#x20AC;&#x2122;s thereof and scooters, three wheelers, pumps, air compressors, pneumatic plants and spare parts and accessories and equipment thereof; to carry on the business of iron founder, machinists, mechanical and electrical engineers, tool and die makers, brass founders, heat theaters, metal workers, boiler makers, mill wrights, iron and steel converters, smith saddlers, wood workers, builders, painters, metallurgists, electrical engineers, waterworks engineer, manufacturers and suppliers of atomic power gas generators, framers, printers, carriers and merchants and to buy, sell, manufacture, repair, convert, alter, let on hire and deal in machinery, implements rolling stocks and hardware of all kinds.

Furniture To carry on the business of manufacturers, repairers, importers, exporters or otherwise dealers in furniture and fixtures made from various kind of wood, brass, steel, fiber glass, plastics or other alloys and to carry on the business by wholesale or retail and whether manufacturing or otherwise of house furnishers, upholsters and dealers in and hirers, repairs, cleaners, stores and warehouse of furniture, carpets, linoleums, furnishings fabrics and other fiber coverings household utensils, china and glass goods fittings, colorful curtains, handmade home furnishings and carpets household requisites of all kinds and all the things capable of being used therewith or in the maintenance and repair thereof. To carry on the business as manufacturers of and dealers in, all types of furniture equipment appliances for domestic, office, industrial and agricultural uses from metal, wooden and synthetic material or in any composition thereof. 75

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Gases To carry on business as manufacturers, producers, processors, makers, inventors, converters, importers, exporters, traders, buyers, sellers, retailers, wholesalers, suppliers, indenters, packers, movers, preservers, stockiest, agents, sub-agents, merchants, distributors, consignors, jobbers, brokers, concessionaires or otherwise deal in gas, coke, tar and all other residual products resulting from the manufacture of gas or the extraction of natural gas, and to carry on all the business which may conveniently by carried on in conjunction with any such activity. To supply gas for lighting, heating, motive power or any other purpose. To acquire, construct, erect, lay, maintain, enlarge, and use all such lands, buildings, easements, gas and other works, machinery, plants, pipes, motors, meters, apparatus, materials and things, and to supply all such materials, products and things as may be convenient in conjunction with the production, use, storage, measurement, supply and distribution of any of the products of the company. To carry on business as manufacturers, producers, processors, makers, inventors, converters, importers, exporters, traders, buyers, sellers, retailers, wholesalers, suppliers, stockiest, agents, sub-agents, merchants, distributors, consignors, jobbers, brokers, concessionaires or otherwise deal in oxygen, hydrogen, nitrogen, carbonic acid, acetylene and any other gases or kindred substances, or any compounds thereof by any process, engines, electrodes, transformers, gas cylinders, compressors, welding machines and other apparatus and conveniences which may seem calculated to promote (directly or indirectly) the consumption of gases. To carry on business as manufacturers, producers, processors, makers, inventors, converters, importers, exporters, traders, buyers, sellers, retailers, wholesalers, suppliers, indenters, packers, movers, preservers, stockiest, agents, sub-agents, merchants, distributors, consignors, jobbers, brokers, concessionaires or otherwise deal in metals, substances and materials, of all kinds (including glass) which may be usefully or conveniently employed in the manufacture of receivers for compressed or liquefied or other gases, and all machinery, appliances, tools, articles and things used or capable of being used for closing or in the manufacture of appliances for closing such receivers or for closing or stopping bottles or for liberating the gases or other contents of any such receivers or the tools required for or used in the manufacture of any such article or things or for any of the purposes aforesaid. To carry on business as manufacturers, producers, processors, makers, inventors, converters, importers, exporters, traders, buyers, sellers, retailers, wholesalers, suppliers, indenters, packers, movers, preservers, stockiest, agents, sub-agents, merchants, distributors, consignors, jobbers, brokers, concessionaires or otherwise deal in dissolved acetylene, acetylene lamps, generators and plants, acetylene apparatus and accessories and other apparatus, appliances, articles and things which may seem calculated to promote or to be capable of being used in connection with the consumption of dissolved acetylene.

General Mining To purchase, take on lease, or otherwise acquire any coal mines, iron mines, and other mines, mining ground, and minerals, and any mining rights, grants, concessions and easements, and any lands or other property necessary or convenient for the advantageous possession and use of the mines or works for the time being owned or worked by the company, or any interest therein respectively, and to search for, get, bring to surface, make merchantable, and sell and dispose of coal, ironstone, and other ores, metals and minerals, and substances of the earth whatsoever. 76

Collection of Main Object Clauses To acquire, prospect for, open, explore, develop, work, improve, maintain and manage mines and mineral lands and deposits, and to dig for, raise, crush, wash, smelt, assay, analyses, reduce, amalgamate, refine, pipe, convey, and otherwise treat ores, metals and minerals, whether belonging to the company or not, and to render the same merchantable and to sell or otherwise dispose of the same or any part thereof or interest therein. To construct works to carry on the business of a mining, smelting and refining company and for such purposes to construct, carry out, repair, maintain, improve, manage, work, control and superintend any roads, ways, shafts, tunnels, railways, bridges, coaling stations, reservoirs, watercourses, aqueducts, docks, wharves, furnaces, coke ovens, plant, engines, machinery, mills, factories, warehouses, ships, boats, dwelling houses, offices buildings and other works and conveniences which may seem appropriate, and conducive to any of the objects of the company, and to contribute to or otherwise aid or take part in any such operations, and to purchase, hire, or build and repair, and trade with, ships, boats, railway wagons or trucks or trolleys or any other rolling stock, or any other means of transport. o carry on the business relating to the finding and working of minerals, the production and working of metals.

Glass designers, convertors, importers, exporters, traders, buyers, sellers, retailers, wholesalers, suppliers, indenters, packers, movers, preservers, stockiest, agents, sub-agents, merchants, distributors, consignors, jobbers, brokers, concessionaires or otherwise deal in all kinds of glass, leveled and unleveled silvered sheet, curved or flat laminated and safety glass, toughened glass, fiber glass, welding glass, silver glass, colored glass, float and plate glass, lead glass, gold mirror, decorative glass, ice flowered glass, glass doors and fittings. To carry on business as manufacturers, producers, processors, makers, inventors, designers, convertors, importers, exporters, traders, buyers, sellers, retailers, wholesalers, suppliers, indenters, packers, movers, preservers, stockiest, agents, sub-agents, merchants, distributors, consignors, jobbers, brokers, concessionaires or otherwise deal in all kinds of glass, glassware, glass goods, mirrors, looking glass, scientific glass, wares, sheet and plate glass and to carry on the business of glass patent solvers, glass embosser ecclesiastical lead worker, tablet, show card and show case manufacturers. To carry on the business of a glass manufacturer, glass beveller, silverer, embosser, engraver, led worker and show case manufacturer, and of a producer of mirrors, containers and other articles made of or incorporating glass in sheet or fabricated form.

Henna & Herbal Products To carry on the business of traders, produce, convert, commercialize, formulate, compound develop, derive, discover, grade, manipulate, prepare, promote, pack, repack, extract, mix, supply, import, export, buy, sell, wholesale, retail, turn to account, and to act as agent, broker, concessionaire, c& f, agent, stockiest, distributors, collaborator, transporter, consultant, job worker, vendor, contractor, or otherwise to deal in all varieties, mixtures, descriptions specifications, coverage, characteristics & applications, of color, mehndi, herbal product & die product. To run beauty parlors, training, center, mehndi fashion shows & institution on franchise basis.

Ready referencer

Hospitality Services To purchase & acquire land for establishment of hotels, holidays, resorts, villas, lodgings, stalls, garages, summerhouses, chateaus, castles, inns, hostels, road houses, motels, taverns, rest houses, guest houses. To sell, serve & to distribute & to manage & market the manufacture of selling, serving & distribution of comestible, eatables. Victuals, meat, bread, bread stuffs & all types of food stuffs & human consumables. To sell serve & to distribute & to manage & market, selling, serving & distributing of soft drinks, aerated waters, beverages, both natural & artificial fresh & canned vegetables & meats, fresh & canned fruits & to manufacture, grow, produce, develop, process (including canning, cold storage, deep freezing dehydration, baking, drying, bottling & packing ) of all types of vegetables, fruits, meat, fish, spices & condiments. To carry on the business of travel agents, hirers of motor & other vehicles, caterers for public amusements, hair dressers, perfumes, chemists, proprietors of clubs, bath, dressing rooms, laundries, reading rooms, writing rooms, newspaper & smoking room, libraries, places of amusements, recreation, sports, entertainment & instruction of all kinds, departmental stores, agents for railway, shipping and airplane companies and carriers, theatrical and opera box office, proprietors, insurance agents.

Horticulture To acquire, purchase or take on lease the agricultural land anywhere in the country. To carry on the business of horticulture, floriculture, sericulture, cultivators, of all kinds of seeds, fruits, including grapes, oranges, apples, mangoes proprietor of orchards and traders, exporter, dealers, processors, preservers and sellers of the products of such horticulture, floriculture, sericulture, seeds and cultivation and manufacturers of drinks including beverages produced from such products or otherwise. To cultivate, plant, purchase, sell, trade, or otherwise deal in food stuff such as cereals sugarcane, sugar beet, vegetable and flower seeds, oil seeds, tea, coffee, cocoa, cinchona, rubber flex, hemp, cotton, silk, art silk, grass, timber wood, bamboo, straw, seeds fruits and other articles that are the produce of land and to sell purchase, trade and deal in the same as principals or agents, solely or with partnership with other. To promote, develop, execute, operate and otherwise carry on projects, schemes, industries, business and activities which in the opinion of the Company is likely to : 

accelerate and increase agricultural production;



contribute to the production of subsidiary and supplementary food;



increase the availability of supplies of food whether principal, ancillary, supplementary or substitute.

To apply for purchase or otherwise acquire and obtain any patents, bravets d’ inventions, licenses, permissions, concessions, processors, and the like conferring any exclusive or limited right (either in point of time or otherwise) to use the same or any secret or other information as to any invention which may seem capable of being used for any purpose of the Company and to use, exercise develop or grant licenses in respect of or otherwise turn to account any such patents, inventions, licenses, permissions, concessions, processes and the information so acquired.

Collection of Main Object Clauses

Hire Purchase and Investment To finance hire, purchase, requirements of buses, lorries, ships, aircrafts of all descriptions, machinery, buildings, tractors, various type of automobiles and equipmentâ&#x20AC;&#x2122;s, ancillaries, of the transport undertaking meaning a company, corporation or departmental undertaking which is engaged in the operations, management, repairs, maintenance, manufacture or trading of any mode of transport be it by road, sea, or air. To undertake hire, purchase arrangements for the purpose of acquisition of aircrafts, ships, lorries, buses, tractors, machinery, various type of automobiles and equipmentâ&#x20AC;&#x2122;s, buildings, ancillaries etc. required for the operation, maintenance and repairs of the transport undertakings as well as units involved in the manufacture, processing or storage of the spare parts connected with these units. To assist the transport undertakings with long or medium term loans or subscribe to their shares capital, equity or preference, debentures or assist in other ways within the restrictions imposed by the Reserve Bank of India or any other authority under the law in force from time to time. To establish or assist to establish companies or firms for undertaking work, projects or enterprises of any description whether of a private or public character in India or elsewhere and to acquire underwrite and dispose of shares and interest in any such companies or firms or in any other company to firm or in the undertakings thereof. To execute directly or by the contributions or other assistance any such or other work, undertakings, projects and enterprise for anyone else or on behalf of anyone else either on contract agency. To procure capital for any company and issue capital of such companies and to subscribe for, purchase, dispose of and otherwise deal in the shares, bonds and securities of such companies or any other securities and to invest the surplus fund of the company in inter corporate or other deposits or to provide loans to individuals, firms and corporation. To receive money on deposits, current account or otherwise with or without interest and to receive and deposit title deeds and other securities and to lend money and negotiate loans of every description and transact business as capitalist, promoters and financial and monetary agents and to give any guarantee for the payment of money for the performance of any obligation or undertaking. To invest in immovable property like land, buildings, flats, bungalows, row houses or acquire, improve, manage, develop all rights in respect of leasehold and freehold rights or properties and to sell and dispose of, turn to account and otherwise deal with the property of all kinds including land, buildings, patents, copy rights etc. To form, promote, subsidies and assist companies, syndicates and firms and to aid municipal or other local body or company or firms or individuals with capital, credit, means or resources for the execution of any works, undertakings, projects or enterprise; To carry on the business of financiers, concessionaries and merchants and to undertake and carry and execute all kinds of financial, commercial, trading and other operations. To carry on the business of financing and advancing short term and long term loans and credits to individuals, companies or association of individuals by whatever name called and either on securities such as lands, buildings or part thereof, machinery, plants, chattels, vehicles, shares, debentures, government securities, stock certificates, life insurance policies and unit stock-in-trade or on guarantee or clean without securities and to finance leasing operation of all kinds. To carry on business as financiers, concessionaries and merchants and the business of hire purchase in 79

Ready referencer all its branches and to undertake and carry on and execute all kinds of financial, industrial, commercial, trading and other operations.

Hosiery & Cosmetics To carry on the business as manufacturers, buyers, sailors, traders importers, exporters, merchant exporters, departmental stores, distributors, factors, stockiest, dealers, packers, repackers, ballers, consultants and agents for any government, semi government or autonomous body, organization of National or friendly foreign origin of All kinds of handicrafts hosiery products, handlooms, fabrics, textiles such as decorative, hand & machine-made, readymade garment, carpets, durries, mats, rugs, namdas, blankets, shawls, tweeds, linen, flannels, bed spreads, quilts, scarfs, belts, tapestry, all other article of silk cotton, woolen and worsted materials and all sorts of apparels, dressing materials mixed products, nylon. Polyester, fiber, yarns hosiery and mixed fabrics, natural silk fabrics and garments. To carry on in India or abroad the business as manufacturer. Producers. Processors importers, exporters, agents, brokers, whole sellers, showroom owners, retailers, distributors, exchanges, traders, buyers, sellers, job workers, stitch, stockiest and to market promote, organize, design, develop, cut sort & grade or otherwise to deal in all shapes, size, verities, specifications, descriptions, applications, modalities, textiles, readymade garments cloth, paper, matal, leather, jute, velvet, woolen and leather rexine & all kinds of material or with any combination and to participate in trade fairs, exhibitions, seminars, fashion shows or any other sales promotion scheme.

Hosiery & Textiles To manufacture, assemble, develop, manipulate, construct, buy, sell, import, export, trade, repair, services, maintain, install, exchange, alter distribute, buy, or sell on hire purchase system or installment to leased out or taken on lease, prepare for market all kinds of hosiery products, textiles products, including socks and undergarments. To import, export, buy, sell, deal, manipulate and prepare for market, all kinds of machinery used for manufacturing, hosiery products and readymade garments. To import, export, buy, sell, deal, manipulate and prepare for market, readymade, garments, of all types and description. To act as agent, sub-agent, distributors, commission agents, representatives, warehousemen, merchants, traders, stockiest, sales organizers of all goods specified above. To provide management and technical consultancy services in the field of hosiery and textile industry.

Hospital & Clinics To develop, construct, acquire, establish and maintain hospital(s) for the reception and treatment of persons suffering from illness, or mental defect or for the reception and treatment of persons during convalescence, or of persons requiring medical attention, or rehabilitation, solely for philanthropic purposes and not for purposes of profit. To found, establish or takeover, and/or otherwise conduct research institutions in all discipline of medical and surgical knowledge. To provide research facilities for carrying on research, basic and applied, in all systems and discipline or medical and surgical knowledge, keeping in view the socio-medical and socio-needs of the afflicted community. 80

Collection of Main Object Clauses To encourage and discover new medical and/or surgical management of diseases and affections and to investigate and make known the nature and merits of investigations and findings and research in the said field and to acquire any patent and license or other protective devices relating to the result of any discovery, investigations, findings or researches and to acquire any processes upon such terms as may seem expedient and to improve the same. To provide, encourage, initiate or promote facilities for the discovery, improvement or devolvement of new method of diagnosis, understanding and treatment of diseases. To conduct and to carry on experiment and to provide funds for research works and for scholarship, stipend, remuneration and/or other payment or aid to any person or persons engaged in research work, or work conducted with or conductive to research and to encourage and to improve knowledge of the persons who are engaged or likely to be engaged in any medical or related profession so as to make available relief to the public at large.

Hotel Proprietors To carry on the business of hotel, restaurant, conference center, motel, holiday camp, leisure center, caravan site, cafe, tavern, beer house, boarding and lodging house keepers, clubs, baths, dressing room, laundries, reading, writing and newspaper rooms, libraries, grounds and places of amusements and recreation, sport, entertainment, and apartment-house proprietors. To equip and furnish any property for the purpose of letting it to visitors or guests, whether in single rooms, suites, chalets, caravans, movable structures, cottages or otherwise. To carry on business as manufacturers, producers, processors, makers, inventors, convertors, importers, exporters, traders, buyers, sellers, retailers, wholesalers, suppliers, indenters, packers, movers, preservers, or otherwise deal in all types of food and food products, meat, fish, groceries, fruit, confectionery, wine, spirits, beer and other beverages whether alcoholic or not, tobacco, chemistsâ&#x20AC;&#x2122; and druggistsâ&#x20AC;&#x2122; supplies, linen, furniture, furnishings and other articles required by visitors to the companyâ&#x20AC;&#x2122;s premises and others. To adapt any of the property of the company as, and to build or rent, shops, offices and other places of business, and to use or lease any part of the property of the company not required for the above purposes.

Household Electrical Appliances To carry on the business of trade, sell buy export, import repair, install, let, take on lease, fabricators, or otherwise deal in all kinds, development of technology of water purifier, water descriptions and marketing of all types of aqua water filters water treatment plants. Home utilities products and fans including air circulator fans, exhaust fans, cable, wires, cables network, electrical, & electrical items & products, cooler kits, switches, motors, star/delta power starters, relay condensers, motor starter, battery, elements, control panels, magnetic amplifiers, reactor, electronic, control unit, chokes, light fitting and spare parts, components, and accessories of above items. To carry on the business of trade, erect, sell, buy, export, import, repair, install, let, take on lease, fabricators, or otherwise, deal in all kinds, descriptions, of aqua water filters, aqua water treatment plant, water purifying systems, and form of household electrical appliances such as prasses/irons, professionals irons hot plates ovens, grillers, cooking, rangers, heater, cooler, stoves, dish geysers, toasters, juicers, mixers, plastic & polythene electrical; products, thermostats, radio, television, VCR & 81

Ready referencer VCP. , computers, printers, electrical bells, cellular phone, pager, fax, phones, cordless phones, stereo systems, heat convertors, refrigerators, air conditioners, CVT, UPS invertors, and decorative lights of all kinds and all kinds of electrical and electronic component and parts.

Hotel Business To carry on all the business of hotels, restaurants, cafes, holiday camps, resorts, taverns, beer-houses, refreshment rooms, night clubs, cabarets and swimming pools and Turkish baths and lodging or apartment house keepers, licensed victuallers, wine, beer and spirit merchants, brewers, distillers, bakers and confectioners, importers and manufactures of aerated mineral and artificial water and other drinks. To carry on all the business of purveyors, caterers for public generally, taxi, motor car and motor lorry proprietors, livery, stable and garage proprietors, farmers, dairymen, ice merchants, importers and brokers of food, live and dead stock and foreign produce of all descriptions, hair dressers, perfumers, chemists, Proprietors of clubs, baths, bars, dressing rooms, laundries, reading, writing and newspaper rooms, libraries, grounds and places of amusement, recreation, sport, entertainment of all kinds, health club, beauty saloons, indoor and outdoor playgrounds and stadiums, swimming pools, video and other fun game rooms, race courses, meditation centers, boating clubs, flying clubs, freezing hot preservation and baking chambers, and other apartments, tobacco and cigar merchants including the manufacture of cigars and other allied products, agents for railways, shipping and airline companies and carriers and theatrical and open box office proprietors entrepreneurs in connection with sub-clause 1 above. To act as hotel management consultants, mangers, operators, advisors, planners, values and to impart technical know-how and training in the field of planning, construction, operation of hotels, motels, restaurants, recreation and entertainment centers in the field of tourism industry whether in India or abroad and to purchase erect or otherwise acquire, establish and equip and act as collaborators, technicians, financiers to any other hotel or restaurant in India or abroad.

Housekeeping Services To carry on the business of providing services and expertise for various cleaning and housekeeping requirements like dusting, sweeping, mopping, garbage removal, scrubbing, rinsing, periodical requirements of through cleaning, washing, brass/chrome polishing, floor scrubbing, vacuum cleaning, high level cleaning, deep cleaning, dry and wet cleaning sofa/carpet shampooing etc. as per the need of any facilities, organizations and/or business houses like office, hotels, shopping malls, call centers & guesthouses, residential & farm house facilities etc. in India or elsewhere. To carry on in the business of providing of manpower, machines, cleaning agents and other related equipments and material connected with housekeeping and cleaning requirements as a above said.

Industrial Gases gases, either in gaseous or in liquid form and to deal in plants, machines, appliances components, parts, articles connected with industrial gases or allied products. To carry on the business of manufacturing and Compressing Oxygen, Hydrogen, Nitrogen, Carbonic Acid, Acetylene, Argon, Freon and any other gases or Kindered substances or any compounds thereof, to deal with, manufacture, and render saleable coke, Coaltarpitch, asphalt, ammoniac, liquor and other residual products obtained in the manufacture of gas. 82

Collection of Main Object Clauses To manufacture buy, sell, let on hire and deal in engines, electrodes, transformers, gas cylinders, compressors, welding machines, and other apparatus and conveniences which may seem calculated to promote the consumption of gases. To manufacture and deal in metals, substances and materials of all kinds including glass, natural or artificial produce which may be conveniently used or employed in the manufacture of receivers for compressed or liquidized or other gases and all machineries, appliances, tools, articles and things used or capable of being used for closing or in the manufacture of appliances for closing such receivers or for closing or stopping bottles or for liberating the gases or other contents of any such receivers or the tools required for or used in the manufacture of any such articles or things or for any of the purposes aforesaid.

Infrastructure Industries power/energy generating stations, including buildings, structures, works, machineries, equipments, cables and to undertake or to carry on the business of managing, owning, controlling, erecting, commissioning, operating, running, leasing or transferring to third person/s, Power plants and Plants based on conventional or non-conventional energy sources, Solar Energy Plants, Wind energy Plants, Mechanical, Electrical, Hydel, Civil Engineering works and similar projects. To conceive, plan, survey, design, study and evaluate all steps, process, techniques and methods for setting up of all types of Infrastructure Projects, facilities or works, and to finance, build, construct, install, erect, undertake, lay down, commission, establish, own, operate, manage, control, and administer, lease, transfer, all Infrastructure Projects, facilities or works including Industrial/ Agricultural Parks, Gardens, Roads, Bridges, Fly-overs, Highways, Roadways, structures and facilities, Rail-roads, Railway Stations, Platforms, Railway Yards, Rail Tracks including gauge conversions thereof, Railway Electrification, Tram-ways, Buildings, Wells, Water-Courses, Dams, Canals, Reservoirs, Urban and Rural Water Supply System, Sewerage and Underground drainage systems, Airstrips, Airports, Seaports, Berths, Jetties, Quays, Docks and Marine structures of all types, Rapid Transport and Telecommunication Systems of all types, Transportation Systems, Irrigation Projects, Water-Ways, Water Supply Schemes including distribution systems, Chemical Plants, Fertilizer Plants, Distillery Plants, LPG and all types of Petroleum Products, Handling and Storage Plants and Terminals, Handling Equipments of various types, Pumping Stations, Light Rail Transport systems for cities, Mass Housing Projects, Industrial Plants of all types, Industrial and Technology parks and civil projects, Environmental based projects and Equipments, Gas pipeline projects and other pipeline projects, Oil Exploration projects, On-shore/off shore projects, Airport facilities, Electronics Hardware Technology Park Complexes, Schools, Colleges, and other educational or vocational Institutions, Public halls, Museums, Libraries, Garages, Hospitals, Health Centers, Community Centers, Hotels, Holiday Homes and/or Beach Resorts and to render all services in connection thereto as planners, Designers, Consultants, Constructors, Builders, Developers, Architects, Engineers, Storage Services, Erectors, Installers, Commissioning Agents, Management Consultants, and to act and to carry on the business as Manufactures, Suppliers, Dealers, Representatives, Stockiest, Dealers, Assigners of patents & Trade Marks, Franchisers, Distributors of all types of plants, Machinery, Equipments, Tools, Raw-materials, Intermediaries and other related products and consumables in connection with the aforesaid activities, Industries and Projects. To enter into any contract, Agreements, Memorandum of understanding, Joint Ventures, Arrangements or such other mode of Contracts with Government of India, State Governments, Foreign Governments, Municipal/Local Authorities, Bodies Corporate, Persons or such other Authorities whether in India or 83

Ready referencer elsewhere as the Company may deem fit on the basis of Build-Own-Lease-Transfer (BOLT) Built-OwnOperate-Transfer (BOOT) Built-Own-Operate (BOO) or such other methods for the purposes of carrying out the objects of the Company. To enter into, manage, undertake, carry on and engaged in the business of Real Estate Development, Land Development, Area Estate and Site Development and to carry on the Business as Planners, Builders, Real Estate Developers, Architects and Civil Engineers, Contractors, Real Estate Brokers, Agents, Brick Makers, and to build/construct own, operate, maintain, manage, control and administer, Earth Works, farmhouses, Parks, Gardens, Row-houses, Duplex Apartments, Commercial, Residential or Industrial building Complexes, Retail Stores, Shopping Centers, Market Yards and deal in, manage and carry on all types of businesses and profession related to land dealings, buildings, farms, estates, properties, areas and sites and to act and undertake and carry on business as stockiest, manufacturers, representatives, suppliers, dealers, agents, distributors, marketers, importers and exporters of all types of building and construction machineries, equipments, materials and related products. To own, acquire, purchase, possess, hold and deal in agriculture land, farms, plots, fields, sites, estates, gardens, groves and all description of vacant or non-vacant lands with or without trees, minerals and other substances whatsoever, with or without building, hereditaments and apartments thereto and to plant, ground, processes and produce cashewnuts, coconuts, mangoes, papayas, pepsines, rubber and other agricultural crops, agricultural products or produce, trees, plants, fruits and flowers of any kind thereon and to carry on the business as growers, agriculturists, agricultural researchers, horticulturists, sericulturists and florists.

Insurance (Accident) To grant policies or other instruments of assurance or insurance against, or assuring compensation or payment in case of death or injury to health or body by reason of accident or misadventure including ship wreck or air crash or violent incident and to assure payment during sickness or incapacity, arising from general or other than above causes. To grant assurance or insurance upon the contingency of injury or loss or damage by reason of accidents of any description to horses, cattle, and other animals, plate and other glass, or real and personal property of any kind. To contribute to funds of such hospitals or other institutions for medical services provided to the companyâ&#x20AC;&#x2122;s clients in cases of accident or illness.

Insurance (Fire and Other Damage to Property To insure houses, buildings, premises, merchandise, and all other property and effects, real and personal, against loss or damage by fire, explosion, lightning, storm, tempest, flood, aircraft and things dropped therefrom, accident or otherwise, and to carry on the ordinary business of fire insurance in all its branches. To rebuild, repair, replace or reinstate, houses, buildings, machinery, and every other description of property which may be insured by the company, and to carry on any kind of business necessary or expedient for any such purposes.

Insurance (General) To carry on all kinds of insurance business, and all kinds of guarantee and indemnity business, and in 84

Collection of Main Object Clauses particular, without prejudice to the generality of the foregoing words, to carry on life, fire, marine, vehicle, aviation, accident, employersâ&#x20AC;&#x2122; liability, workmenâ&#x20AC;&#x2122;s compensation, disease, disability and death, sickness, survivorship, failure of issue, third party, burglary and robbery, theft, loss of profits, disturbance or interruption of trade, storm tempest, explosion, willful damage, fidelity, transit, mortgage and investment insurance, and the issue of performance and guarantee bonds. To grant insurances against loss or damage arising from any contingency whatsoever or in consequence of the happening or non-happening of any event and to carry on and transact every kind of insurance business which now is or which may come to be incidental to or associated with any kind of insurance business herein specially mentioned. To grant, purchase, or sell endowments and annuities, either for lives or for years, or on survivorships, and either immediate, deferred, determinable, contingent, or reversionary and other estates, interests, and securities, whether in real or personal property, and generally to undertake and transact all matters and business which may be in any way connected with or depend upon contingencies. To become surety by bond or otherwise for the acts or defaults of any person or class of persons in any employment or holding any position of trust or confidence and to guarantee the due performance of any obligation and to indemnify or guarantee principals and employers against injury, loss or damage arising from the acts or defaults of agents, servants, workmen and others in their employment or acting on their behalf, whether such liability arises under Act of Parliament or otherwise and to enter into administration bonds, admiralty bail bonds and other bonds relating to legal process and generally to carry on all matters of business which may be transacted by fidelity assurance company. To underwrite credit, life insurance and credit accident and health insurance related to extension of credit and to undertake and carry out all matters of business that now are or may come to be connected with any kind of the foregoing business. To reinsure and counter-insure all or any risks, and to undertake all kinds of re-insurance and counterinsurance with any of the business aforesaid. To carry on business as actuaries, insurance brokers, insurance agents and underwriting agents in any branch or aspect and to effect and transact, whether as principal, agent, manager, broker or otherwise, all kinds of insurance, reinsurance, assurance endowment, annuity, guarantee, brokerage and indemnity in any branch or aspect and in particular and without prejudice to the generality of the foregoing to carry on the business of brokers and agents for those classes of insurance business comprising life and pension schemes. To promote, effect, insure, underwrite, act as trustee in connection with, participate in, manage and carry out any issue, public or private, of state, municipal or other loans, or of shares, stock, debentures, interests or debenture stock of any company, corporation or association, and to lend money for the purposes of any such issue. To act as the agent for the issue of any bills, bonds, debentures, debenture stock, stocks or shares whether or not offered to the public for subscription and to guarantee or underwrite the subscription of any such securities or shares and to act as trustee with or without remuneration or undertake trusts of any description or the estates of deceased persons and to receive for safe custody, deeds, securities or other documents or money or any personal chattels with or without undertaking liability for any loss thereof or injury thereto and to undertake all kinds of agency business. To contract with leaseholders, borrowers, lenders, annuitants and others for the establishment, accumulation, provision and payment of sinking funds, depreciation funds, renewal funds, endowment funds and any other special funds, whether in consideration of a lump sum, or annual premium, or otherwise, and generally on such terms and conditions as may be arranged. 85

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Insurance (Life) To grant assurances of all kinds payable upon the happening of all or any of the following events, namely, the death or marriage, or birth or failure of issue of, or the attainment of a given age by any person or persons, or the expiration of any fixed or ascertainable period, or the occurrence of any contingency or event which would or might be taken to affect the interest (whether in possession, vested, contingent, expectant, prospective, or otherwise) of any person or persons in any property, or the loss or recovery of contractual or testamentary capacity in any person or persons. To grant annuities, immediate or deferred, payable for any fixed or other period, or contingent as to their commencement or determination upon the happening of all or any of the events above mentioned. Generally, to transact the business of a life assurance company, including the sale and purchase or repurchase of annuities and reversionary interests, and life or other interests of uncertain duration or commencement, and endowments for children, and all other business relating to or commonly transacted by life assurance companies.

Insurance (marine and Flight) To insure against every description of marine risk and air flight risk which may legally be undertaken, relating to the perils of the sea and air, fire, war, reprisals, and all other risks of a like nature incidental to navigation or travel (marine or aerial) ships, aero planes, vessels, and craft of all descriptions, and also the freights, goods, merchandise, cargo, earnings, and any property whatsoever, in or on board of the same, so far as the same may be effected or made according to law. To insure all other matters and things which lawfully may or can be from time to time insured, or be the subject of insurance against perils of the sea or air, and also generally to carry on other branches and departments of the business of marine and air flight insurance.

Insurance (Securities and Investments) To insure or give any guarantee in relation to any stock, shares, debentures, debenture stock, bonds, obligations or securities issued by any company or institution or of any government, or authority, or of any person or persons whomsoever, whether corporate or unincorporated. To insure or give any guarantee against calls and demands for contribution in respect of any liability incident to the ownership of any shares or stock in any company or undertaking. To insure or guarantee the holders of, or persons interested in, or proposing or intending to become holders of any shares, stock, or securities issued at a premium, or standing at a premium, against loss arising from redemption at par, depreciation or otherwise. To insure or guarantee the safety of securities and property of all kinds placed on deposit with the company or elsewhere, or entrusted to the company or other persons or companies for transmission, or otherwise. To insure and guarantee the due payment and performance of bills of exchange, promissory notes, debts, contracts and obligations of all kinds. To grant indemnities to companies or their shareholders, debenture holders or the holders of any security against rights and damages arising from the loss of certificates or other documents of title and indemnities in respect of the loss of title documents generally.

Collection of Main Object Clauses

Insurance Brokers To carry on business as insurance brokers and agents, and as underwriting agents in all classes of insurance business, and as insurance advisers, pensions advisers, consultant assessors, Valuers, surveyors, average adjusters and mortgage brokers, to provide hire purchase and consumer credit finance and to act as factors.

Interior Decorators To carry on in India or elsewhere the business to manufacture, develop, fabricate, finish, manipulate and to act as importer, exporter, buyer, seller, job worker, wooden beading and mouldings, wooden packing cases, and to carry on either alone or jointly with one or more persons, government, local or other bodies, the business of to undertake Architectural work, inter designers, erection and installation and to act as civil engineers, architectural engineers, interior decorators, consultants, advisors, contractors, turnkey contractors and managers, and to do all incidental acts and things necessary for the attainment of the above objects. To carry the business of manufacturing trading, buy, sell, re-sell, supply, import, export, transport, store, forward, distribute, dispose, develop, handle, manipulate, market, supply or otherwise to deal in all types furniture, interior, designing and consulting relating to interiors & decorators. To provide design & consultancy services for interiors decorators. To carry on business as export advisors, designers, providers of technical knowhowâ&#x20AC;&#x2122;s in interiors decorators.

Investment (General) To carry on business as investment holding company and for that purpose to invest or use the moneys and property of the company in such manner as the directors may think fit and without limiting the generality of the foregoing, to advance, deposit or lend moneys, securities and property to or with such persons, companies or corporations on such security or without security and on such terms and conditions as to the directors may seem expedient and to issue on commission, subscribe for, take, acquire, hold, sell and exchange share stocks, bonds, obligations, debentures, mortgages or securities of any government or other competent authority, company or persons. To invest in, acquire and hold either in its own name whether beneficially or otherwise or in the name of a nominee of or trustee for the company, all forms of real and personal property in any part of the world for any estate or interest therein and whether legal or equitable and in particular and without restricting the generality of the foregoing in:

Iron and Steel To carry on the business of ironmasters, steel makers, steel converters, manufacturers of ferromanganese, colliery proprietors, coke manufacturers, miners, smelters, engineers, tin plate makers and iron founder, in all their respective branches. To search for, get, work, raise, make merchantable, sell and deal in iron, coal, iron stone, lime stone, manganese, ferro-manganese, magnesite clay, fire clay, brick earth, bricks, and other metals, minerals and substances, and to manufacture and sell briquettes and other fuel, and generally to undertake and carry on any business, transaction or operation commonly undertaken or carried on by explorers, prospectors or concessionaires and to search for, win, work, get, calcine, amalgamate, dress, refine and 87

Ready referencer prepare for the market any quartz and ore and mineral substances, and to carry on business as manufacturers, producers, processors, makers, inventors, convertors, repairers, cleaners, assemblers, importers, exporters, traders, buyers, sellers, retailers, wholesalers, suppliers, indenters, packers, movers, preservers, stockiest, agents, sub-agents, merchants, distributors, consignors, jobbers, brokers, concessionaires or otherwise deal in minerals and mineral products, plants and machinery and other things capable of being used in connection with mining or metallurgical operations or required by the workmen and other employed by the Company.

Jewelers and Precious Stones To carry on the business as goldsmiths, silversmiths, manufacture and merchants of all type of jewellery made of precious metal and precious stone, dealers, stockiest, brokers, repairs, designers, assemblers or hirers, agents, importers and exporters, of bullion, diamond and other precious stones, jewels, gold silver, platinum and other precious and semi-precious metals, ornaments, jewellery, articles, and goods ,made partly or fully above mentioned materials, stones or metal or as the company may consider capable of being conveniently dealt with I relation to its said business To carry on the business as importers, exporters dealers, stockiest, agents of all type of machine tools used in the manufacturing of the items mentioned in the preceding para. To carry on the business as manufactures dealers, importers, exporters stockiest, maker of all type of artificial jewellery and its parts. To carry on the business as the refiners of all type of precious metals.

Leather Dealers To carry on the business of tanning and finishing of hides and skins and leathers and dealers of leather of all types and description, including the manufacture of and dealers in various leather items such as garments upholstered briefcases, shoe uppers, and other articles of all types and description made out of leather. To carry on the business of manufacturing, distribution and supplying of dresses, readymade garments and wearing apparel made of leather of all kinds. to carry on the business of manufacturers, processors, buyers, sellers, importers, exporters, repairers, hirers, stockiest and distributors of and dealers in leather cloth and all allied products made of leather and leather cloth.

Lifestyle To carry on business as importers, exporters, traders, buyers, sellers, retailers, wholesalers, suppliers. or otherwise deal in textile, textile goods, cotton, silk, wool. linen, hemp, jute and yarns of all kinds and fabrics made of such yarns, and all kinds of synthetic or partially synthetic fabrics, waterproof fabrics and articles made from them, natural fabrics, fashion materials, imitation fur, buttons, belts and zip and other fasteners, linings of all kinds, canvas, umbrellas, marquees flags and all kinds of fabrics or articles in which fabrics of any kind Is used. To carry on the business of trading, designing, inventing, importing, exporting, distributing of otherwise dealing in all kinds of readymade garments, fabrication of all type of garments and accessories, fabrics, hosiery goods hosiery cloth, textile goods, woolen garments, costumes, shawls, tweeds, linens, flannels and all other articles of textile, hosiery, yarn, woolen and worsted materials and 88

Collection of Main Object Clauses all articles similar to the foregoing or any of the them or connected therewith. To carry on the business of manufacturers, importers, exporters, wholesalers, retailers & sellers of all types of fashion accessories, equipments for interior designing and other lifestyle products

Live Stock To carry on in India or elsewhere the business to produce, breed, develop, care & nurse for commercial use all type of animals and livestock such as cow, ox , bull, buffaloes, dogs, bitches, rabbits, horses, mares, he goat, she goat, pigeons, cocks, fowls, hens, fish, chickens, bees, sheep, and to establish undertake, organize promote and run poultry farms, fish farms, piggery dairy farms, aquaculture farms, and similar places and to buy sell, import, export, collaborate, wastes, by-products, residuals, carcass, milk products, honey etc. and to do all incidental acts and things necessary for the attainment of foregoing objects.

Logistics To carry on the business of general logistic service provider. To carry on business as general carriers and freight forwarders and to provide passenger carrier services, carrier freight transport, courier, truck, light or heavy haulage and delivery services by land, road, railway, sea, river, canal, water, or air for and in connection with any containers, packages, parcels, mails, goods or bulk commodities and for that purpose to purchase , hire or take on charter any ships, tugs, barges, lorries, vans, trailers and other vessels or vehicles of any description . To carry, collect, store, consign, distribute, transfer and deliver goods, wares, post, merchandise, parcels, packages, baggage, freight, animals, livestock, timber, coal, oil, ores and other minerals and other property of every description by any mode of transportation, and generally for such purposes to acquire, manage and operate warehouses, and bonded warehouses, act as agents for shippers and consigners, and to issue warehouse warrants and receipts and bills of lading. To establish, organize, manage, run, charter, conduct, contract, develop, handle, own, operate and to do business as fleet carriers, transporters, in all its branches on land, air, water, & space, for transporting goods, articles, or things on all routes and lines on National and International level subject to law in force through all sorts of carries like trucks, lorries, trawlers, dumpers, coaches, tankers, tractors, haulers, jeeps, trailers, motor buses, omnibuses, motor taxies, railways, tramways, aircrafts, hovercrafts, rockers, space shuttles, ships, vessels, boats, barges and so on whether propelled by petrol, diesel, electricity, steam oil, atomic power or any other form of power. To carry on the business as agents, distributors, merchants, importers, exporters, traders, contractors, warehousemen and to establish, maintain, operate and/or run agency lines in goods, stores, consumable items, durable merchandise, chattels and effects of every kind and description in any place in the world and without limiting the generality of the above, to carry on business as Selling Agents, Buying Agents, Factors, Mukadams, Carriers, Jath Merchants, Landing Clearing and Forwarding Agents, Commission Agents, Insurance Agents, Distributors and Stockiest, Brokers and/ or in any other capacity. To carry on the business of clearing and forwarding agents, courier and cargo handlers, handling and haulage contractors, warehousemen, common carriers by land, rail, water and air, container agents, to handle goods and passengers within the country and outside and to carry on the business of tour and travel operators and to act as customs agents, wharfingers, landing agents, stevedores and longshoremen. 89

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Machines To invent, develop, design, manufacture, fabricate, process, prepare, assemble, or cause to be designed, fabricated, processed, assembled and manufactured planet and machinery, equipment, appliances, instrument, tools, and things, required for the manufacture of chemicals, cellulose, paper and pulp, synthetics, textile, plastic, and other allied product including, auxiliary and utility plant and equipment. To manufacture, assemble, produce, work, repair, distribute, buy and sell or otherwise deal in all kinds of lathes, shapers, drillers, grinders, boring machine, slotters, milling machines, scientific and precision instruments. To carry on and conduct workshop, engineering works of every description and kind and foundries of iron and steel, brass and other metals, wood and any substances. To carry on the manufacture of all kinds of printing, coating, reprography, hot stamping, foil laminating, converting machinery and its components.

Management Consultancy To carry on the business of management consultants and advisors and to provide management services in all forms and aspects of trade and industry, including, without limitation, problem solving, team building, strategic and operational planning, corporate communications, information technology and knowledge management, corporate management, productivity, profitability, human resource development, change processes, recruitment of managerial personnel, manpower planning, cost control, marketing, advertisement, and any other related activity, to companies, bodies corporate, governments ? central or state, municipal or local authority, society, undertaking, institution or any association of persons or any individual, whether in India or abroad. To carry out research and development activities in relation to the objects in (1) above, including investigation, preparation and drafting of all manner of studies including economic and commercial studies. To collect information and data and submit reports on feasibility of new projects and/or improvements to and/or expansion of existing projects, to diagnose operational difficulties and weaknesses and suggest remedial measures to improve and modernize existing projects, undertakings and businesses.

Merchant Banking To carry on the business of merchant bankers, lead managers, management consultants, project appraisals, loan syndication, structured debt syndication, debt restructuring and advisors on all aspect of corporate financial and commercial matters and to act as an asset management company and/or to sponsor the set-up of mutual funds, asset management company and trustee company in India or anywhere in the world. To provide execute, undertake and provide services in the areas of investment research, institutional equity, derivatives advisory and wealth management solutions that include portfolio management, investment advisory & financial planning in India or anywhere in the world. To provide Strategic advice and provides critical financial advice in the areas of mergers and acquisitions, equity capital markets, strategic advice, privatizations, structured financial solutions, management of IPOâ&#x20AC;&#x2122;s, rights issues, buy back offers, open offers, and private placements of equity, venture capital funds, private equity funds for equity placements & to plan effective delivery platform for its clients in India or anywhere in the world. 90

Collection of Main Object Clauses To undertake global research and advisory in any area and products, such as capital market research in equity, debt, knowledge of individual scripts and technical aspects of market price movements and to train and provide investment education â&#x20AC;&#x201C; for financial and non-financial assets

Manpower Consultancy To carry on the business of providing Manpower placement and recruiting, Selecting, Interviewing, Training and Employing all types of executives, Middle Management Staff, Junior Level Staff, Workers, Labourers Skilled/Unskilled required by various Industries and organizations including providing security services, Labour contractors, Industrial, Commercial, Housing and other security services and workers for office management and to conduct employment bureau and to provide consultancy and other services in connection with requirements of persons and manpower supply in India and abroad.

NBFC Companies To carry on the business or businesses of a holding and investment company, and to buy, underwrite and to invest in and acquire and hold shares, stocks, debentures, debenture stock, bonds, obligation or securities of companies or partnership firms or body corporate or any other entities whether in India or elsewhere either singly or jointly with any other person(s), body corporate or partnership firm or any other entity carrying out or proposing to carry out any activity whether in India or elsewhere in any manner including but not limited to the following: To acquire any such shares , stocks, debenture, debenture stock, bonds, obligation or securities by original subscription, exchange or otherwise and to subscribe for the same either conditionally or otherwise, to guarantee the subscription thereof issued or guaranteed by any government, state, public body, or authority, firm, body corporate or any other entity or persons in India or elsewhere. To purchase or acquire, hold, trade and further to dispose of any right, stake or controlling interest in the shares, stocks, debentures, debenture stock, bonds, obligation or securities of companies or partnership firms either singly or jointly with any other person(s), body corporate or partnership firm carrying out or proposing to carry out any activity in India or in any other part of the world. To invest and deal with the moneys of the Company not immediately required in such manner as may from time to time be determined and to hold or otherwise deal with any investment made. To facilitate and encourage the creation, issue or conversion of debentures, debenture stock, bonds, obligation, shares, stocks, and securities, and to act as trustees in connection with any such securities, and to take part in the conversion of business concerns and undertakings into companies. To give any guarantee in relation to the payment of any debentures, debenture stock, bonds, obligation or securities. To subscribe for, conditionally or unconditionally, to underwrite issue on commission or otherwise take, hold, deal in, and convert stocks, shares and securities, of all kinds, and to enter into partnership, or into any arrangement for sharing profits, union of interest, reciprocal concession or co-operation with any person, partnership, or organize companies, syndicates, or partnerships of all kinds, for the purpose of acquiring and undertaking any property and liabilities of this company, or of any other company or of advancing, directly or indirectly, the object thereof, or for any other purpose which this company may think expedient. To lend and advance money and assets of all kinds or give credit on any terms or mode and with or without security to any individual, firm, body corporate or any other entity ( including without 91

Ready referencer prejudice to the generality of the foregoing any holding company, subsidiary or fellow subsidiary of , or any other company whether or not associated in any way with, the company ), to enter into guarantees, contracts of indemnity and surety ship of all kinds, to receive money on deposits or loan upon any terms, and to secure or guarantee in any manner and upon any terms the payment of any sum of money or the performance of any obligation by any person, firm or company (including without prejudice to the generality of the foregoing any holding company, subsidiary or fellow subsidiary of , or any other company associated in any way with, the company ) To borrow and raise money in any manner for the purpose of any business of the company or of any company in which the company is interested and to secure the repayment of any money borrowed, raised or owing by mortgage, charge, standard security, lien or other security upon the whole or any part of the Companyâ&#x20AC;&#x2122;s property or assets (whether present or future). To transact or carry on all kinds of agency business, and in particular in relation to the investment of money, the sale of property and the collection and receipt of money. To Purchase or otherwise acquire, and to sell, exchange, surrender, lease, mortgage, charge, convert, turn to account, dispose of , and deal with property and rights of all kinds, and in particular, mortgages, debentures, produce, concessions, options, contracts, patents, licenses, stocks, shares, bonds, policies, book debts, business concerns, and undertakings and claims, privileges, and chooses in action of all kinds. To carry on activities of leasing and /or hire-purchase.

Network Marketing To carry on in India or elsewhere the business of buying, selling, reselling importing, exporting, transporting, storing, developing, promoting, marketing or supplying, and to act as broker, trader, agent, C & F agent, distributor, representative, franchiser, consultant, collaborator, stockist, liasioner, job worker, export house in all types and grades of .............., or otherwise to deal in all shapes, sizes, varieties, specifications, descriptions, applications, modalities, fashions and uses of ......................., To carry on in India the business of marketing, promoting, franchising or dealing in any of the above activities as also financial and insurance products or schemes, both in internal and external markets, on its own or through network marketing with membership concept of whatever sort or nature and to appoint sub-franchisers etc., for any of the above purposes."

Online Lottery Business To carry on the business of Lotteries, Online Lotteries, dealership in Lotteries run by the Central and/or state government authorities and/or run by the other private bodies, and to carry on the business of market survey and developments of lotteries including market research of various types of lotteries.

Publication and Distribution To carry on in India or elsewhere the business as printers, publishers, typesesster, DPT operators, proofreaders, binders, cutter, perforators, laminators, designers, authors, writer and editors of publication all varieties, descriptions, specifications, applications & uses including books, novels, magazines, journals, souvenirs, newsletters, periodicals, bulletins, pamphlets, forms catalogues, diaries, calendars, posters, pictures, stickers, text books, law books, school books, college books, newspapers & other allied publications on any subject whatsoever in print as well as in electronic media and to 92

Collection of Main Object Clauses develop software, CDs, cassettes, floppies or any other electors mode, devices, systems and to act as job work, contractor, sub-contractor, consultant, date entry operator, page maker, website designer, copyright owner and to deal in all goods, articles and things necessary for the attainment of the above objects.

Petrol Extraction To establish, start, operate, Propagate, Produce, manufacture, grow, cultivate, process, collaborate, import, export, sell, purchase or otherwise deal in and marketing of Jatropha, medicinal and aromatic plants, usual and unusual herbs, economic and spices plants, plantation and tuber crops, ready to use potted plants, nuclear seedlings, anther / Pollen culture, Protoplasm fusion, genetically engineering, DNAIRNA antisense, RNA rescue, embryo transfer technology, integrated projects related to hybrid seeds/cut flowers, disease indexing of clean plants, oleoresins / spice extracts, encapsulated spices, euro vegetables / fruits, mushroom, dry / fresh fruits / nuts, fresh / canned / dehydrated / frozen fruits / vegetables, cold storages / cold chains, natural colors / dyes / gums / Pigments / enzymes / base oils / isolates / alkaloids, botanicals/ herbal extracts, essential oils, solvent / field / cryo / hydro / steam distillation, research and development in Jatropha and its processing technologies including Cultivation, transesterification of Jatropha oils into bio diesel and to establish its distribution network across the country, agro and allied fields, establishment of agro processing complexes, green / Polygreen houses, solar green houses, Protected cultivation, Post harvest infrastructure development, Processing technologies, wasteland Promotion and development, land use planning, biofertilizers, bactrim, herbal medicines / cosmetics, new generation activated series of agro / biochemicalâ&#x20AC;&#x2122;s, polymers, biofungicide / biopesticides, IPM (Integrated pest Management), Cogeneration, recycling of organic waste, fermentation and membrane Process technologies, fast foods, marine and Sea foods, energy foods, meat and meat products, Oshtrich / EMUâ&#x20AC;&#x2122;s dairy / Poultry / Pig farming and processing technologies, beekeeping, honey and its processing, sericulture and its processing technologies and to operate farming under satellite contractual buy-back schemes including cultivation & processing of medicinal and aromatic plants, usual & unusual rare herbs.

Plastic Recycling To carry on business of plastic recycling and as dealers in plastic raw materials, resins, goods and articles connected with the plastic manufacturing industry. To carry on business of importers, exporters, manufacturers, agents and representatives and dealers in all kinds of plastic raw materials and products.

Pharmaceutical To manufacture, formulate, process, develop, refine, import, export, wholesale and/or retail trade all kinds of pharmaceuticals, antibiotics, drugs, medicines, biological, neutraceuticals, healthcare, ayurvedic and dietary supplement products, medicinal preparations, vaccines, chemicals, chemical products, dry salters, mineral waters, wines, cordials, liquors, soups, broths and other restoratives or foods and also to deal in medicinal goods such as surgical instruments, contraceptives, photographic goods, oils, perfumes, cosmetics, patent medicines, soaps, artificial limbs, hospital requisites, proprietary medicines, veterinary medicines and tinctures extracts and to carry on the business of vialling, bottling, repacking, processing of tablets, capsules, syrups, injections, ointments, etc. and also to carry on the business of chemists, druggists, buyers, sellers, agents, distributors and stockiest of all kinds of pharmaceuticals and allied products. 93

Ready referencer To carry on in India or abroad business of importers, merchants, general order suppliers, commission agents, representatives, distributors, royalty owner, contractors, auctioneers, indent agents, passage agents, factors, organizers, concessionaries, sale agents, sub agents, and insurance agents, in connection with the business as referred to in sub-clause (1) above. To acquire, establish, run and maintain hospital(s) for the reception and treatment of persons suffering from illness, or mental defect or for the reception and treatment of persons during convalescence, or of persons requiring medical attention, or rehabilitation, to provide medical relief to the public in all branches of medical sciences by all available means, to run, own, manage, administer, Diagnostic Centers, Scan Centers, Nursing Homes, Clinics, Dispensaries, Maternity Homes, Child Welfare and Family Planning Centers, Clinical, Pathological testing laboratories, X-Ray and ECG Clinics in India and abroad, to act as Consultant and Advisors providing technical know-how, technical services and allied services for the establishment, operation and improvement of Nursing Homes, Hospitals, Clinics, Medical Institutions, Medical Centers, Diagnostics Centers and Laboratories In India and abroad, to carry out medical research by engaging in the research and development of all fields of medical sciences, and in therapies of medical treatment, so as to afford medical relief in a better way, to provide research facilities for carrying on research, basic and applied, in all systems and discipline or medical and surgical knowledge, to develop pharmacological standardization of indigenous medical plant, to encourage and discover new medical and/or surgical management of disease and affections and to investigate and make known the nature and merits of investigations and findings and research in the said field and to acquire any processes upon such terms as may seem expedient and to improve the same and undertake the manufacture of any product developed, discovered or improved and/or to give licenses for the manufacture for the same to other and either to market the same or to grant licenses to other to market the same on such terms as may be deemed fit, to provide, encourage, initiate or promote facilities for the discovery, improvement or development of new method of diagnosis, understanding and treatment of diseases. To establish and run health portal, web sites, medical transcription centers, data processing/computer centers, retail chains, e-commerce, and to offer wholesale, retail, e-commerce facilities, health constancy and data processing and other services that are normally offered by health portal, web sites, medical transcription centers, data processing/computer centers, retail chains, etc. to individuals, business and other type of customers and to impart training of Electronic data processing, Computer Software and Hardware, to customers and others and to carry on the business of manufacturers, producers, makers, convertors, repairers, importers, exporters, traders, buyers, sellers, retailers, wholesalers, suppliers, indenters, packers, movers, preservers, stockiest, agents, sub-agents, merchants, distributors, consignors, jobbers, brokers, concessionaires or otherwise deal in computers, data processors, calculators, tabulators, machines, appliances, accessories, devices and instruments, of every kind and activation for use for industrial, commercial, scientific, medical, statistical, or any other purpose and any product or products thereof or materials, articles, software and hardware used in the operation of or otherwise in connection therewith or ancillary thereof.

Power Generation To carry on in India or elsewhere the business of establishing, commissioning, setting up, operating and maintaining electric power generating stations based on conventional/non-conventional resources including garbage and other waste materials, tie-lines, sub-stations and transmission lines on ownership and/or build, own and transfer (BOT) and/or build, own, lease and transfer (BOLT) and/or build, own, operate and transfer (BOOT) basis and to carryon in India or elsewhere the business of acquiring, 94

Collection of Main Object Clauses operating, managing and maintaining existing power generation stations, tie-lines, sub-stations and transmission lines, either owned by the private sector or public sector or the Government or Governments or other public authorities and for any or all of the aforesaid purposes, to do all the necessary or ancillary activities as may be considered necessary or beneficial or desirable. To carry on the business of an electric Power, Light and Supply Company in all its branches, and in particular to construct, lay down, establish, fix and carry out all necessary power stations, cables, wires, lines, accumulators, lamps and works, and to generate, acquire by purchase in bulk, accumulate, distribute and supply electricity, and to light cities, towns, streets, docks, markets, theatres, buildings and places, both public and private. To carry on the business of electrician, mechanical engineers, suppliers of electricity for the purposes of light, heat, motive power or otherwise, and manufacturers of and dealers in apparatus and things required for or capable of being used in connection with the generation, distribution, supply, accumulation and employment of electricity, galvanism, magnetism or otherwise. To acquire concessions or licenses granted by, and enter into contracts with the Government of India or the Government of any Province in India, or the Government of any State in India, or any municipal or local authority, company or person in India, or elsewhere, for the construction and maintenance of an electric installation for the production, transmission or use of electric power for lighting, heating, pumping, signaling, telephonic, or traction or motive purposes, including the application thereof to tramcars, omnibuses, carriages, ships, conveyances and objects, or any other purpose. To generate, acquire by purchase in bulk, develop and accumulate electrical power at the place or places contemplated by the said License and to transmit, distribute and supply such power throughout the area of supply named therein; and generally, to generate, acquire by purchase in bulk, develop and accumulate power at any other place or places and to transmit, distribute and supply such power.

Retail Business To acquire or carry on in India or elsewhere the business of providing heat and cold treatment of iron, steel (including alloy steel) and metal founders, processors, turners, forgers, drawers, rollers and rerollers of steel shaftings, bars, rods, etc., in different shapes and sizes from scraps, billets, ingots including wire, nails, screws, metal hinges, plates, sheets, strips, hoops, rounds, circles, angles and to alloy steel, stainless steel, any other products from steel, brass, copper, lead, zinc, nickel and any other ferrous and non-ferrous metals of all sizes, specification and description including ingot casting in electric and furnace. To carry on in India or elsewhere the business to design, manufacture, produce, prepare, buy, procure, acquire, import, improve upon, alter, manipulate, maintain, prepare for market, handle, assemble, heat, grade, mould, cast, sell, resale, export, operate, dispose of, distribute, transport, store, forward, dispose, consume, repair supply and otherwise deal in or develop all types, varieties, models, shapes, sizes, specifications, description, diameters, capacities, applications, uses and values of gadgets, implements, accessories, parts, spares, assemblies, components, moulds, jigs, nuts, bolts, fixtures and tools, metallic or otherwise. To act as agent, broker, representative, consultant, collaborator, stockiest, lessor, franchiser, wholesaler, retailer, job-worker, exporter, importer, dealer or in any such other capacity in respect of products manufactured or dealt with by the Company. To carry on all processes like metal printing, metal anodising, electro-plating, chemical treatment and lacquering in respects of products manufactured or dealt with by the Company. 95

Ready referencer

Real Estate / Construction Infrastructure To carry on business of contractors, Builders, Town planners, Infrastructure developers, Estate developers and Engineers land developers, Land Scapers, estate agents, immovable property dealers and to acquire, buy, purchase, hire or otherwise lands, buildings, civil works immovable property of any tenure or any interest in the same and to erect and construct, houses, flats, bungalows, kothis or civil work of every type on the land of the Company or any other land or immovable property whether belonging to the Company or not and to pull down, rebuild, enlarge alter and other conveniences and to deal with and improve, property of the Company or any other Immovable property in India or abroad. To erect, construct, build, water proofing, sewage, demolish, fabricate, execute, carry out, improve, work, develop and enlarge, rebuild, repair, maintenance, administer, manage or control in India or abroad- on any land or immovable property of the Company or upon any other land or immovable property in any capacity and conveniences of all, kinds, including turnkey jobs, railway, tramway speedway, runways. roads aerodromes, sewage, theatres, cinema halls, piers, wharves, Dams, barrages, reservoirs, embankments, canals, irrigations, power houses, transmission lines, reclamation, improvement sewage, drainage, sanitary works, for building hotels, houses, markets, private public and all kind of Conveniences and to carry out business of builders and civil engineers, architects. estimators and designers thereof. To promote, buy, acquire, sell, lease. exchange, hire, give on relit, to let, mortgage or otherwise dispose of the lands, industrial Complexes, houses. buildings, farm houses, agricultural lands, and other immovable property of the Company or other immovable property including any share or shares, interest or interests therein and to transact on commission or otherwise business of real estateâ&#x20AC;&#x2122;s agents and to apply for purchase through tender or otherwise acquire civil contracts for or in relation to water proofing, sewage, construction, execution, equipment, improvement, management, administrations or control of mechanical and civil works and conveniences and to undertake, execute, dispose or otherwise turn to account the same. To carry on the business of architects, consultants civil engineers civil testers, builders and developers of land contractors, colonizers, civil contractors and undertake any residential, commercial or Industrial, construction either independently or jointly in partnership, joint venture or on agency or sub contracts basis with or on behalf of any individual firm, body corporate, association or society, Central or State Government, Cantonment board or any local authority to work as colonizer, developer of land and farm houses and buildings for residential purposes

Security To provide the security guards (Armed/Unarmed) for security purposes to the individual persons, corporate bodies to carry on the business as traders, exporters, importers, buyers, sellers, principals, agents stockiest and in all and every kind and natural of security systems and devices viz fire alarms burglar alarms or other electronic gadgets, bullet proof jackets, close circuit TVS, cameras and metal detectors. To plan establish setup and carry on the business of rendering investigation, detective and security services in all their spheres and area viz. to carry on the business selection, recruitment, placement and training of guards skilled and unskilled managerial administrative, technical supervisors, security guards, gunman, security officer and other personnel services elsewhere. To establish and render consultancy with reference to intelligence & security & investigation detective services of every kind nature & description.

Special Economic Zone To carry on in India or abroad the business of developing, constructing, establishing, commissioning, 96

Collection of Main Object Clauses setting up, operating , maintaining, alteration, pulling down and restore either alone or jointly with any other companies or persons, Government , firms, associations authorities, bodies, trusts, agencies, societies or any other person or persons engaged in or in connection with either directly or indirectly and whether wholly or in part, for the purposes of infrastructure development work or providing infrastructure facility or engaged in infrastructure activities, which shall include work or facility or providing of services in relation to or in connection with setting up, development, construction, operation, maintenance, modernisation, expansion and improvement of any infrastructure project or facility including roads, special economic zones, export processing zone, knowledge parks, information technology parks, highways, railways, airways, waterways, ports, transport systems, bridges, tele-communication and other communication systems, systems for generation or storage or transmission or distribution of power, irrigation and irrigation systems, sewerage, water supply, sanitation, health, tourism, education, oil & gas (excluding exploration), food and agriculture infrastructure and setting up of industrial areas.

Software To develop, design, structure, establish, maintain, market, buy, import, export, sell, provide, license, implement and set up Support Services business and units, Business Services businesses and units, Support Centers, Business Centers, Software/Computer Software businesses, centers and units, Information Technology Enabled businesses, centers and units and Information Technology businesses, centers and units in India or anywhere in world. To develop, design, structure, establish, maintain market, buy, import, export, sell, provide, license and implement and to set up the business of handling customer support services by establishing Business Process Outsource units, Knowledge Process Outsource units, Call centers, Data centers, Medical Transcription Centers and the like whether pertaining to own customers or clientâ&#x20AC;&#x2122;s customers from within India or outside, for requests received over telephone, fax, email, web, kiosk, post, video conferencing or any other mode including through which any customer can communicate by accessing information in possession of the company or provided by the client in India or anywhere in world . To carry on the business of designing, developing, exporting, importing, consultancy and training in all kinds of software, hardware, systems, programs, products, applications and services, for all purposes including but not limited to Business Process Outsource units, Knowledge Process Outsource units , Call centers, Data centers, Medical Transcription Centers and the like and to set up Research and Development Centers and train, educate in one or more of the above areas and to market the latest developments in national and international scenario and implement the same to economize and simplify the operations and to carry on the business of providing communication facilities neither computer aided or telephone or any other mode in India or anywhere in world. To carry on the business of providing and running services relating to Multimedia networks, Telecommunication networks, cable networks and Internet services. To carry on the business of providing and supplying of information technology solutions including turnkey solutions, end-to-end solutions, systems integration and development of software, computer hardware, peripherals, networking. To develop and maintain in or outside India software and/or facilities to service onsite and/or offshore outsourcing of business activities including but not limited to data processing, data analysis, data mining, data control, information related projects and activities.

Ready referencer

Steel To acquire or carry on in India or elsewhere the business of providing heat and cold treatment of iron, steel (including alloy steel) and metal founders, processors, turners, forgers, drawers, rollers and rerollers of steel shaftingâ&#x20AC;&#x2122;s, bars, rods, etc., in different shapes and sizes from scraps, billets, ingots including wire, nails, screws, metal hinges, plates, sheets, strips, hoops, rounds, circles, angles and to alloy steel, stainless steel, any other products from steel, brass, copper, lead, zinc, nickel and any other ferrous and non-ferrous metals of all sizes, specification and description including ingot casting in electric and furnace. To carry on in India or elsewhere the business to design, manufacture, produce, prepare, buy, procure, acquire, import, improve upon, alter, manipulate, maintain, prepare for market, handle, assemble, heat, grade, mould, cast, sell, resale, export, operate, dispose of, distribute, transport, store, forward, dispose, consume, repair supply and otherwise deal in or develop all types, varieties, models, shapes, sizes, specifications, description, diameters, capacities, applications, uses and values of gadgets, implements, accessories, parts, spares, assemblies, components, moulds, jigs, nuts, bolts, fixtures and tools, metallic or otherwise. To act as agent, broker, representative, and consultant, collaborator, stockiest, lesser, franchiser, wholesaler, retailer, job-worker, exporter, importer, dealer or in any such other capacity in respect of products manufactured or dealt with by the Company. To carry on all processes like metal printing, metal anodising, electro-plating, chemical treatment and lacquering in respects of products manufactured or dealt with by the Company.

Stock Broker To carry on in India or elsewhere the business to act as stock broker, finance broker, agent, sub broker, share transfer agent, portfolio manager, odd lot dealer or other intermediaries and to buy, sell, exchange, barter, swap adjust, subscribe, acquire, hold, invest or otherwise deal in all kinds of shares, securities, stocks, bonds, mutual funds, warrants, premium notes, bills of exchange, letter of credit, all kinds of units coupons, warrants, noptions, derivatives, other similar instruments, and different kind of commodities. To act as lead managers, co-managers, advisors and counselors in investments and capital market, to underwrite or sub underwrite issues in capital market, clearing houses for the securities, to undertake the work of factoring of bills, advisory in field of trading of all kinds of securities and commodities. To apply for and become member in India or elsewhere of any stock exchange, national stock exchange, commodity exchanges and other similar institution, authority and to carry on business as permissible under Securities and Contracts (Regulations)Rules 1957.

Trading To carry on the business of buying, selling, reselling, importing, exporting, transporting, storing, developing, promoting, marketing or supplying, trading, dealing in any manner whatsoever in all type of goods on retail as well as on wholesale basis in India or elsewhere. To carry on the business as exhibitors of various goods, services and merchandise and to undertake the necessary activities to promote sales of goods, services and merchandise manufactured/dealt with/provided by the Company. To act as broker, trader, agent, C & F agent, shipper, commission agent, distributor, representative, 98

Collection of Main Object Clauses franchiser, consultant, collaborator, stockiest, liaison, job worker, export house of goods, merchandise and services of all grades, specifications, descriptions, applications, modalities, fashions, including byproducts, spares or accessories thereof, on retail as well as on wholesale basis.

Tobacco products To carry on the business of as manufacturers, traders, importers and exporters at tobacco zarda, gutkha, pan masala and snuff. To carry on, conduct, manage, develop and prosecute any of these businesses in such manner and in such or places, either in India elsewhere as the company may think requisite or proper and to buy, sell, grow, cultivate, manipulate, manufacture, import, export and deal in tobacco crops, cigar, snuff, zarda, gutkha, pan, masala or other products or farms of tobacco.

Textile To carry on the business of manufacturing, buying, selling, importing, exporting and dealing in textiles, cotton, silk, art silk, rayon, nylon, synthetic fibers, staple fibers, polyester, worsted, wool, hemp and other fibre materials, yarn, cloth, linen, rayon and other goods or merchandise whether textile felted, netted or looped. To carry on the business of importers, exporters, buyers, sellers, dealers and as agents, stockiest, distributors and suppliers of all kinds of ready made garments, coverings, coated fabrics, textiles, hosiery and silk or merchandise of every kind and description and other production goods, articles and things as are made from or with cotton, nylon, silk, polyester, acrylics, wool, jute and other such kinds of fiber by whatever name called or made under any process, whether natural or artificial and by mechanical or other means and all other such products of allied nature made thereof.

Tour and Travel To encourage and provide the business as package tour operators, daily passenger service operators, tour operators, travel agents, ship booking agents, railway ticket booking agents, airlines ticket booking agents, carrier service agents, courier service agents. To carry on the business of running of taxies, buses, mini buses, trucks and conveyances of all kinds and to transport passengers, goods, commodities, livestockâ&#x20AC;&#x2122;s, merchandise and to do the business of transporters, forwarding and transporting agents, stevedore, Carmen, what fingers, cargo superintendents, package handlers and carting contractors. To carry on the business as tourist agents and contractors and to facilitate traveling and to provide for tourists and travelers, the provision of convenience of all kinds in the way of through tickets, sleeper cars, or berths, reserved places, hotel, motel and lodging, accommodation guidance, safe deposits, enquiry bureaus, libraries, reading rooms, baggage transport and other allied services. 4. To act as Money Changers to provide services that may be necessary for the achievement of the aforesaid objects.

Tower Business To carry on the business of all kinds of communications, networks products and solutions, dealing in all equipment products and solutions related to telecom, radio, television, wireless networks and services and make available all equipment, products and solutions required for the telecommunications sector in India; provide post sales services. 99

Ready referencer To carry on the business through ownership, management, operation, leasing and development of wireless and broadcast communication sites or towers, antenna systems/antenna space, wireless and radios broadcast transmission, Business Process Outsourcing and Information Technology facilities, and to operate through segments including but not limited to Rental Management and Network Development Services. To engage in the business of providing basic telecommunication services, IP-I services and IP-II services within and outside the territory of India. To provide Network development services for site acquisition, zoning and permitting service and structural analysis service that support site/tower leasing operation and addition of new tenants and equipments on the site/ tower. and to carry on research and development work in relation to any or all of the above and with particular relation to communication equipment. To carry on the business of building, establishing, setting-up, acquiring, developing, advising on ,managing, providing , operating and/or maintaining, facilitating conduct of fully or partially infrastructure facilities and services thereof for all kinds of value added services including payment gateway services, long distance telephony services, e-commerce services and data-com services, video tech access points, multimedia access points, internal access points, voicemail services, email services, video conferencing services, fax store and forward services, enhanced faxed services, internet services including basic and advance services and to carry on the business as advisors, suppliers, traders of data processing and information retrieval systems, virtual private network services and broad band network services, application services ATM services, data center services including hosting services, application services and co-location services, computer hardware and software of all kinds which incorporate use and used in conjunction with or ancillary to systems of such description as aforesaid and any of the apparatus and equipment comprised therein.

Trading of goods To carry on business as merchants, traders, commission agents, or in any other capacity in India or elsewhere, and to import, export, buy, sell, barter, exchange, pledge, make advances upon or otherwise deal and trade in all types of goods, produce and merchandise. To carry on business as, importers, exporters, traders, buyers, sellers, retailers, wholesalers, suppliers, indenters, packers, movers, preservers, stockiest, agents, sub-agents, merchants, distributors, consignors, jobbers, brokers, concessionaires or otherwise deal in all types and varieties of storage batteries, dry or otherwise, for all kinds of uses, battery plates, cells, battery components, chargers, motors, transformer, stabilizers and all other kinds of electronic components, devices. To carry on all or any of the businesses of designers, trader, maintainers, repairers of and dealers in electrical and electronic appliances and apparatus of every description, and of and in radio, television and telecommunication requisites and supplies, teletext and view data receivers, and electrical and electronic apparatus, appliances, equipment and stores of all kinds.

Venture Fund Management To carry on in India or elsewhere the business to establish, form, promote, manage, organize handle, sponsor, operate, supervise or to float venture capital fund /company to manage all sorts of assets of venture capital through a duly incorporated company under the Companies Act, 1956 as approved by Securities & Exchange Board of India or other authorities from time to time under prevailing laws, rules & guidelines and to encourage and develop first generation entrepreneurs, specially technologists, technocrats and professionals, in order to enlarge the technological entrepreneurial base in the country. 100

Collection of Main Object Clauses To promote risk oriented projects entailing the use of advanced and / or complex technology or projects for the manufacture of new products for new usages and markets that will strengthen the national economy and to charge such management and advisory fees and incidental expenses and to do all such acts and things as are necessary for the attainment of the foregoing objects.

Wealth Management To carry on the business of providing all kinds of corporate advisory services in the areas of wealth management, portfolio management, investment advisory, financial planning, asset allocation, risk profiling, investment research cash budgeting, estate / will planning and taxation issues. To provide execute, undertake and provide services in the areas of investment research, institutional equity and fixed income investment planning, derivatives advisory and wealth management solutions, consultancy for investments in financial products like mutual funds, RBI bonds, small savings investment plans, retirement plans and IPOâ&#x20AC;&#x2122;S. To undertake global research and advisory in any area and products, such as capital market research in equity, debt, knowledge of individual scripts and technical aspects of market price movements and to train and provide investment education for financial and non-financial assets.

Web Designing To carry on in India or abroad the business of developing, designing and maintenance of websites, webbased applications and internet/network related system/solutions including setting up of portals, internet based services and consultancy and other value added services. To carry on in India or abroad the business of activities related to e-commerce, e-shopping, e-business, multimedia services, online information services, online application integration including buying, selling, marketing, trading and otherwise dealing in various kinds of products on internet. To carry on in India or abroad the business of developing, designing, maintaining, selling software, packages and applications, client server applications, enterprise resource planning, network management, outsourcing related services and other services in the field of information technology.

Warehousing To carry on the business in India or abroad to take on lease, rent, hire and to construct, build, establish, erect, promote, undertake, acquire, own operate, equip, manage, renovate, recondition, turn to account, maintain and to run warehouses, god owns, open platforms, refrigeration houses, stores and other similar establishments to provide facilities for storage of commodities, goods, articles and things, and for the purpose to act as C & F agent, custodian, warehouseman, transportation and distribution agent, stockiest, financier, auctioneer, importer, exporter, or otherwise to deal in all sorts of commodities, vegetables, fruits, edibles and similar goods.

Web Portal To carry on the business of providing solutions and services related to Web-Technologies, Internet and E-commerce, including to design, develop, maintain, operate, own, establish, install, host, provide, create, facilitate, supply, sale, purchase, license or otherwise deal in Internet portals, Internet networks, Media Portals, Internet solutions, Internet gateways, Internet service providers, E-commerce, Web-site designing, Web based and Web enabled services and applications, E-commerce service provider, E101

Ready referencer commerce solutions, E-commerce platforms, E-commerce education, E-commerce technologies and Ebusiness solutions. To provide consultancy services addressed to business process engineering, information technology and the design and implementation of information technology solutions for Industry and to establish computer network, either as part of international network or as stand alone network or otherwise, development of websites, Portal Sites and provide high speed digital / analog communication links to other networks and to establish and offer internet services, internet service provider and any other service which is feasible by using internet or any other such international networks. To develop expertise and impart education in the fields of information technology. To identify and acquire/invest in Companies and enterprises including forming joint venture and act as a Holding company in businesses holding prospects of growth including investing in Companies dealing in Telecom Ventures, ISP Business, WEB portal business, IT server farms and hosting business, digital service provider business, IT software development business, multimedia software development business and any other business activity in the areas of telecommunications and information technology.

Wires & Cables To carry on in India or elsewhere the business of manufacturing, producing, processing, extruding, rolling, re-rolling, blending, packing, re-packing, grading, importing, exporting, buying, selling, distributing, exchanging, converting, molding, drawing, insulating, coating, altering, or and to act as agent broker, contractor, job worker, supplier, provider, collaborator, consignor, consultant, stockiest, distributors, traders, C & F agent, consignment dealer/agent, del credere agent or other wise to deal in all characteristics, specifications, applications, descriptions and capacities, of ferrous and nonferrous metals, copper and aluminum, wires, and cables, of all kinds and in particular copper and aluminum and strips papers covered, cotton covered, glass covered, enameled wires and cables of all kinds, insulating materials, of all kind, wire enamel, chemicals, lubricants, oils, acids, gases, and electrical goods of all kinds. To buys, sell, manufacture, repair, service, improve, exchange, imports, exports, deal manipulate, all kind and classes of wires, cables ropes and cords, high tensile steel wires, wire ropes, mild steel wires, spring wires, cables and conductors. To manufacture, buy, sell, exchange, alter, improve, manipulate, prepare, for market import or export or otherwise deal in all kinds of insulated cables, and wires, rubber insulated wires and cables, cab tiresheeted, wires, P.V.C. cables and flexible, flexible cords, cotton or silk braided, conduct wires and cables, low and high tension power cables, telegraph and telephone cables, low and high tension paper, rubber, or bitumen insulated lead covered power cables, armored or non-armored extra high tension shielded and belted power cables, telephone and telegraph cables, according to B.B.S. long distance cables, signaling cables, lead covered cables. Bare copper and cadmium copper wire round or grooved for aluminum bus bars, binders and rotar bars suitable for dynamo, transformer and switchgear of copper, bronze, phosphor bronze, aluminum varnish cambric insulated cables, furnace, alloy and tinned copper and all kinds of cables, wires conductors and accessories.

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