Shopper's Stop Limited - Securities and Exchange Board of India

No fee shall be charged for registration of transfer, transmission, Probate, Succession Certificate and
Letters of administration, Certificate of Death or Marriage, Power of Attorney or similar other document.
The Board may, subject to the provisions of the Act and subject to the other provisions of these Articles,
decline to register any transfer of shares on which Company has a lien.
The Company shall not be bound to recognize any Hindu Undivided Family (HUF) as a Member and in the
event of any shares are to be held by an HUF, the same would have to be held in the name of the Karta /
a coparcener of the HUF and the Company would recognize such karta / coparcener as the Member of
the Company.
Board may refuse to register transfer:
58. Subject to the provisions of Section 111A of the Act or any statutory modification of the said
provisions for the time being in force, the Board may, at its own absolute and uncontrolled
discretion and by giving reasons, decline to register or acknowledge any transfer of shares
whether fully paid or not and the right of refusal, shall not be affected by the circumstances that
the proposed transferee is already a Member of the Company but in such cases, the Board shall
within one month from the date on which the instrument of transfer was lodged with the
Company, send to the transferee and transferor notice of the refusal to register such transfer
provided that registration of transfer shall not be refused on the ground of the transferor being
either alone or jointly with any other Person or Persons indebted to the Company on any account
whatsoever except when the Company has a lien on the shares. Transfer of shares/debentures
in whatever lot shall not be refused.
Subject to the provisions of Section 111A of the Act or any statutory modification of the said
provisions for the time being in force, the Board may, at its own absolute and uncontrolled
discretion and by giving reasons, decline to register or acknowledge any transfer of shares
whether fully paid or not and the right of refusal, shall not be affected by the circumstances that
the proposed transferee is already a Member of the Company but in such cases, the Board shall
within one month from the date on which the instrument of transfer was lodged with the
Company, send to the transferee and transferor notice of the refusal to register such transfer
provided that registration of transfer shall not be refused on the ground of the transferor being
either alone or jointly with any other Person or Persons indebted to the Company on any account
whatsoever except when the Company has a lien on the shares. Transfer of shares/debentures
in whatever lot shall not be refused.
Transmission
59. On the death of a Member, the survivor or survivors where the Member was a joint holder, the
executor or administrator of a deceased Member or a holder of a Succession Certificate in
respect of shares of a deceased Member where he was the sole or only surviving holder shall be
the only Persons recognised by the Company as having any title to his interest in the shares and
the Company shall not be bound to recognise such executor or administrator unless such
executor or administrator shall have first obtained Probate or Letters of Administration or other
legal representation as the case may be from a duly constituted court in India. Provided that in
any case where the Board in their absolute discretion think fit, the Board may dispense with the
production of Probate or Letters of Administration or Succession Certificates upon such terms as
to indemnity, affidavit or otherwise as the Board may deem fit and register the name of any
Person who claims to be absolutely entitled to the shares standing in the name of a deceased
Member as a Member. Nothing in this Article shall release the estate of a deceased joint holder
from any liability in respect of any share which had been jointly held by him with other Persons.
60. Any Person becoming entitled to a share in consequence of the death or insolvency of a Member
may, upon such evidence being produced as may from time to time properly be required by the
Board and subject as hereinafter provided, elect, either-
(i) to be registered himself as holder of the share; or
(ii) to make such transfer of the share as the deceased or insolvent Member
could have made.
61. The Board shall, in either case, have the same right to decline or suspend registration as it would
have had, if the deceased or insolvent Member had transferred the share before his death or
insolvency.
62. If the Person so becoming entitled shall elect to be registered as holder of the share himself, he
shall deliver or send to the Company a notice in writing signed by him stating that he so elects.
327