KAMDHENU ISPAT LIMITED - Securities and Exchange Board of India

without any deduction or allowance for the value of the shares at the time of forfeiture but shall not be under
any obligation to do so.
Company’s lien on shares
18.(B) (i) The Company shall have a first and paramount lien :
(a) One every share not being fully paid up share for all moneys whether presently payable or not, called or
payable at a fixed time in respect of that share and
(b) On all shares standing registered in the name of a single person for all moneys presently payable by him
or his estate to the Company provided that the Board of Directors may at any time declare any share to be
wholly or in part exempt from the provisions of this clause.
(ii) The Companies lien, if any on a share shall extend to all dividends payable thereon, subject to Sec. 205 A
of the Act.
CALLS ON SHARES
22. (i) The Board may, from time to time, make calls upon the members in respect of any moneys unpaid on their
shares (whether on account of the nominal value of the shares or by way of premium) and not by the
conditions of allotment thereof made payable at fixed times, provided that no call shall be payable not less
than one month before from the date fixed for the payment of the last proceeding call.
(ii) Each member shall subject to receiving at least fourteen days notice specifying the time or times and place
of payment pay to the company at the time of times so specified, the amount called on his shares.
(iii) A call may be revoked or postponed at the discretion of the Board.
Payment of call in advance
27. The Board :
(i) may, it think fit receive from any member willing to advance the same, all or any part of moneys uncalled
and unpaid upon any share held by him.
(ii) upon all or any of the moneys so advanced may (until the same would but for such advance become
presently payable) pay interest at such advance become presently) pay interest at such rate not exceeding
unless the company in general meeting shall otherwise direct six percent per annum as may be agreed
upon between the Board and the member paying the sum in advance, “Money paid in advance of calls
shall not in respect thereof confer a right to dividend or to participate in the profits of the Company”.
Default in payment of calls
28. No member shall be entitled to receive any dividend or exercise any dividend or exercise any privileges as a
member until he shall paid all calls for the time being due and payable on every share held by him whether alone or
jointly with any other person, together with interest and expenses (if any and the Board may deduct from the dividend/
interest payable to any member all sums of money so due from him to the company.
TRANSFER AND TRANSMISSION OF SHARE
30. Shares in the Company shall be transferred by an instrument in the form prescribed by the Act.
Execution of transfer
32. Every such instrument of transfer shall be duly stamped and shall be signed by or on behalf on both the transferor
and transferee and the transferor shall remain the holder of such share until the name of the transferee is entered in
the Register in respect thereof. The name, address and occupation, if any of the transferee shall be specified in the
instrument of transfer. All joint transferrers and joint transferees shall sign the instrument of transfer.
Application for registration
33. An application for registration of a transfer of shares may be made either by the transferor or by the transferee,
where the application is made by the transferor and relates to partly paid shares the transfer and within two weeks
from the receipt of the notice the transferee has not objected to the transfer. For the purpose of this Article notice to
the transferee shall be deemed to have been duly given if it is despatched by prepaid registered post to the transferee
at the address given in the instrument of transfer and shall be deemed to have been delivered at the time at which
it would have delivered in the ordinary course of post.
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