KAMDHENU ISPAT LIMITED - Securities and Exchange Board of India

DEMATERIALISATION OF SECURITIES
17. (2) Notwithstanding anything contained in these Articles, the Company shall be entitled to dematerialised its
existing shares and other securities; rematerialise its shares and other securities held with Depositories and/or offer
its fresh shares and other securities in a dematerialised form pursuant to the Depositories Act, 1996 and the rules
framed thereunder and on the same being done, the Company shall further be entitled to maintain a register of
members with the details of Members holding shares both in material and dematerialized form in any media as
permitted by law including any form of electronic media, either in respect of existing share or any future issue and
transfer or transmission of any shares or other securities held in material or dematerialised form.
17. (3) The shares and other securities of the Company which are held in the dematerialised form shall not be
progressively numbered and the provisions relating to the progressive numbering shall not apply to the shares or
other securities of the Company which are dematerialised or may be dematerialised in future or issued in future in
dematerialised form and no Share Certificates shall be issued in respect of the Shares issued/held in rematerialised
form with any Depository.
17. (4) Save as herein otherwise provided, the Company shall be entitled to treat the person whose name appears
as the beneficial owner of the Shares/Securities in the records of the Depository as the absolute owner thereof as
regards the receipt of Dividends or bonus or Service or Notice and all or any other matters connected with the
Company and accordingly the Company shall not (except as ordered by Court of Competent jurisdiction or as by law
required) be bound to recognise any banami trust or equity or equitable, contingent or other claims to or interest in
such shares/securities on the part of any other person whether or not it shall have express or implied notice thereof.
17. (5) In the case of Transfer or Transmission of Securities held by beneficial owners with the Depository the
provisions relating to the normal transfer or transmission of securities in respect of the securities held in the physical
mode shall not apply to the transfer of Securities effaced by the transferor and the transferee both of whom are
entered as beneficial owners in the records of the Depository. In case of transfer or transmission of shares or other
marketable securities where the Company has not issued any certificates in respect thereof and where such shares
or securities are being held in an electronic and fungible form with a Depository, the provision of the Depository Act,
1996 shall apply.
FORFEITURE & LIEN
Forfeiture of shares
18.(A) (i) If any member fails to pay any call or installment on or before the day appointed for the payment of
the same, the Directors may at any time thereafter during such time as the call or installment remain unpaid serve a
notice on such member requiring him to pay the same, together with any interest that may have accrued and all
expenses that may have been incurred by the company by reason of such non payment.
(ii) The notice shall name a day not being less than 21 days from the date of the notice and a place or places on and
which such call or installment and such interest and expenses as aforesaid are to be paid. The notice shall also state
that in the event of non-payment at or before the time, and at the place or places appointed the share in respect of
which such call was made or installment is payable will be liable to be forfeited.
(iii) If the requisitions of any such notice as aforesaid be not complied with, any shares in respect of which such
notice has been given may, at anytime thereafter before payment of all calls or installments, interest and expenses
due in respect thereof be forfeited by a resolution of the Directors to that effect. Such forfeiture shall include all
dividends declared in respect of the forfeited shares and not actually paid before the forfeiture. Neither the receipt by
the Company of a portion of any money which shall from time to time be due from any member of the company in
respect of his shares, either by way of principal or interest. Nor any indulgence granted by the company in respect of
the payment of any such money shall preclude the company from thereafter proceeding to enforce a forfeiture of
such shares as herein provided.
(v) Any share so forfeited shall be deemed to be property of the Company and the Directors may sell, re-allot
otherwise dispose of the same in such manner as they think fit.
(vii) Any member whose shares have been forfeited shall notwithstanding such forfeiture be liable to pay and
shall forthwith pay to the Company all calls, installments, interest and expenses, owing upon or in respect of such
shares at the time of the forfeiture, together with interest thereupon from the time of the forfeiture until payment at 12
percent per annum or such other rate as the Director may determine and Directors may enforce the payment thereof
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