sejal architectural glass limited - Securities and Exchange Board of ...

Title of Article Article Number and contents
for the period at the rate and subject to the conditions and restrictions provided
by Section 208 of the Act and may charge the same to capital as part of the cost of
construction of the work or building or the provisions of the plant.
DEBENTURES
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Debentures with
voting rights not
to be issued
CALLS
43.
(a) The Company shall not issue any debentures carrying voting rights at any
Meeting of the Company whether generally or in respect of particular classes
of business.
(b) The Company shall have power to reissue redeemed debentures in certain
cases in accordance with Section 121 of the Act.
(c) Payments of certain debts out of assets subject to floating charge in
priority to claims under the charge may be made in accordance with the
provisions of Section 123 of the Act.
(d) Certain charges (which expression includes mortgage) mentioned in Section 125
of the Act, shall be void against the Liquidator or creditor unless registered as
provided in Section 125 of the Act.
(e) A contract with the Company to take up and pay debentures of the Company
may be enforced by a decree for specific performance.
(f) Unless the conditions of issue thereof otherwise provide, the Company
shall (subject to the provisions of Section 113 of the Act) within three months after
the allotment of its debentures or debenture-stock and within one month
after the application for the registration of the transfer of any such
debentures or debentures-stock have completed and ready for delivery the
certificate of all debenture-stock allotted or transferred.
(g) The Company shall comply with the provisions of Section 118 of the Act, as
regards supply of copies of debenture Trust Deed and inspection thereof.
(h) The Company shall comply with the provisions of Section 124 to 145
(inclusive) of the Act as regards registration of charges.
Title of Article Article Number and contents
Directors may
make calls
When interest on
call or installment
payable
44.
(a) Subject to the provisions of Section 91 of the Act, the Board of Directors
may from time to time by a resolution passed at a meeting of a Board (and not
by a circular resolution)make such calls as it thinks fit upon the Members in
respect of all moneys unpaid on the Shares or by way of premium, held by them
respectively and not by conditions of allotment thereof made payable at fixed time
and each Member shall pay the amount of every call so made on him to person or
persons and at the times and places appointed by the Board of Directors. A call may
be made payable by instalments. A call may be postponed or revoked as the
Board may determine. No call shall be made payable within less than one month
from the date fixed for the payment of the last preceding call.
(b) The joint holders of a Share shall be jointly and severally liable to pay all
calls in respect thereof.
49.
If the sum payable in respect of any call or installment is not paid on or before the
day appointed for the payment thereof, the holder for the time being or
allottee of the Share in respect of which the call shall have been made or the
installment shall be due, shall pay interest on the same at such rate not
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