KAMDHENU ISPAT LIMITED - Securities and Exchange Board of India
KAMDHENU ISPAT LIMITED - Securities and Exchange Board of India
KAMDHENU ISPAT LIMITED - Securities and Exchange Board of India
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POWER TO MODIFY RIGHT<br />
11. (i) If at any time share capital is divided into different classes <strong>of</strong> shares, all or any <strong>of</strong> the rights, privileges<br />
attached to any class (unless otherwise provided by the terms <strong>of</strong> issue <strong>of</strong> the shares <strong>of</strong> the class) may subject to<br />
the provisions <strong>of</strong> section 106 <strong>and</strong> 107 <strong>of</strong> the Act <strong>and</strong> whether or not the Company is being wound up be varied,<br />
modified, commuted, effected or abrogated with the consent in writing <strong>of</strong> the holders <strong>of</strong> three fourths <strong>of</strong> the issued<br />
shares <strong>of</strong> the class or with the sanction <strong>of</strong> a special resolution passed at a separate meeting <strong>of</strong> the holders <strong>of</strong> the<br />
shares <strong>of</strong> the class.<br />
(ii) To every such separate meeting the provisions <strong>of</strong> these Articles relating to general meeting shall mutatis<br />
mut<strong>and</strong>is apply, so that the necessary quorum shall be five persons at least holding or representing by proxy<br />
one-third <strong>of</strong> the issued shares <strong>of</strong> the class in question.<br />
(iii) This Article is not to derogate from any power which the company would have, if this Article were omitted.<br />
The rights conferred upon the holders <strong>of</strong> the shares (including preference, if any) <strong>of</strong> any class issued with preferred<br />
or other rights or privileges shall unless otherwise expressly provided by the terms <strong>of</strong> issue <strong>of</strong> shares <strong>of</strong> that class to<br />
be deemed not to be modified, commuted effected abrogated dealt with or varied by the creation or issue <strong>of</strong> further<br />
shares pari passu there with.<br />
Right <strong>of</strong> holder <strong>of</strong> issued share when deemed to be varied<br />
12.The rights conferred upon the holders <strong>of</strong> the shares <strong>of</strong> the shares <strong>of</strong> any class issued with preferred or other<br />
rights shall unless otherwise expressly provided by the terms <strong>of</strong> issue <strong>of</strong> the shares <strong>of</strong> that class, be deemed to be<br />
varied by the creation or issue <strong>of</strong> further shares ranking pari passu therewith.<br />
SHARES<br />
Inequality in number <strong>of</strong> new shares<br />
15.. If, owing to any inequality in the number <strong>of</strong> new shares to be issued <strong>and</strong> the number <strong>of</strong> shares held by the<br />
member entitled to have the <strong>of</strong>fer <strong>of</strong> such new shares, any difficulty shall arise in the apportionment <strong>of</strong> such new<br />
shares or any <strong>of</strong> them amongst the members, such difficulty shall, in the absence <strong>of</strong> any direction in the resolution<br />
creating the shares or by the Company in General Meeting be determined by the <strong>Board</strong>.<br />
Member right to Certificate<br />
16.(i) Every person whose name is entered as a member in the register <strong>of</strong> members shall be delivered within<br />
three months after allotment or within 2 months <strong>of</strong> the registration <strong>of</strong> transfer the certificate <strong>of</strong> all shares, debenture<br />
or debenture stock or within such other period as the conditions <strong>of</strong> issue <strong>of</strong> the shares, debenture or debenture stock<br />
shall otherwise provide :<br />
(a) One certificate for all his shares without payment or<br />
(b) Several certificates each for one or more <strong>of</strong> his shares upon payment <strong>of</strong> one rupee for every certificate after the<br />
first.<br />
(ii) Every Certificate shall be under the seal <strong>and</strong> shall specify the shares to which it related <strong>and</strong> the amount paid up<br />
thereon.<br />
(iii) In respect <strong>of</strong> any share held jointly by several persons the Company shall be bound to issue more than one<br />
certificate <strong>and</strong> delivery <strong>of</strong> a certificate for a share to one <strong>of</strong> several joint holders shall be sufficient delivery to all<br />
such holders.<br />
Provisions regarding issue <strong>of</strong> new or renewal <strong>of</strong> share certificates<br />
17. (1) If a share certificate is defaced, lost or destroyed it may be renewed on payment <strong>of</strong> such fee if any not<br />
exceeding Rs.2/- (Rupees Two) <strong>and</strong> one such terms if any as to evidence <strong>and</strong> indemnity <strong>and</strong> the payment <strong>of</strong> out <strong>of</strong><br />
pocket expenses incurred by the Company in investigation evidence as the Directors thinks fit. The share certificate<br />
shall be issued subject to the provisions <strong>of</strong> Companies (Issue <strong>of</strong> Share Certificates) Rules, 1960. Provided that the<br />
Company may charge such fees as may be agreed by it with the Stock <strong>Exchange</strong> with which its shares may be<br />
enlisted for the time being for issue <strong>of</strong> new certificates in replacement <strong>of</strong> those that are torn, faced, lost or destroyed<br />
<strong>and</strong> for sub-division <strong>and</strong> consolidation <strong>of</strong> share certificates <strong>and</strong> for sub-divison <strong>of</strong> letters <strong>of</strong> allotment <strong>and</strong> split,<br />
consolidation, renewal <strong>and</strong> pucca transfer receipts into denominations other than those fixed for the market units <strong>of</strong><br />
trading.<br />
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