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

TRANSFER AND TRANSMISSION OF SHARES
Title of Article Article Number and contents
No transfers to
minors etc.
Instrument of
transfer
Application for
transfer
Execution of
transfer
Transfer by legal
representatives
Register of
Members etc when
closed
Directors may
refuse to register
transfer
71.
No Share which is partly paid-up or on which any sum of money is due shall in any
circumstances be transferred to any minor, insolvent or person of unsound mind.
72.
The instrument of transfer shall be in writing and all provisions of Section 108 of the
Companies Act, 1956 and statutory modification thereof for the time being shall be
duly complied with in respect of all transfer of shares and registration thereof.
73.
(a) An application for registration of a transfer of the Shares in the Company may
be either by the transferor or the transferee.
(b) Where the application is made by the transferor and relates to partly paid
Shares, the transfer shall not be registered unless the Company gives notice of
the application to the transferee and the transferee makes no objection to the
transfer within two weeks from the receipt of the notice
(c) For the purposes of clause (b) above notice to the transferee shall be deemed
to have been duly given if it is dispatched by prepaid registered post to the
transferee at the address, given in the instrument of transfer and shall be
deemed to have been duly delivered at the time at which it would have been
delivered in the ordinary course of post.
74.
The instrument of transfer of any Share shall be duly stamped and executed by
or on behalf of both the transferor and the transferee and shall be witnessed. The
transferor shall be deemed to remain the holder of
such Share until the name of the transferee shall have been entered in the
Register of Members in respect thereof. The requirements of provisions of Section 108
of the Companies Act, 1956 and any statutory modification thereof for the time being shall
be duly complied with.
75.
A transfer of Share in the Company of a deceased Member thereof made by his
legal representative shall, although the legal representative is not himself a
Member be as valid as if he had been a Member at the time of the execution of the
instrument of transfer.
76.
The Board of Directors shall have power on giving not less than seven days pervious
notice by advertisement in some newspaper circulating in the district in which the
registered office of the Company is situated to close the Register of Members
and/or the Register of debentures holders at such time or times and for such
period or periods, not exceeding thirty days at a time, and not exceeding in the
aggregate forty five days at a time, and not exceeding in the aggregate forty five days
in each year as it may seem expedient to the Board.
77.
Subject to the provisions of Section 111A, these Articles and other applicable
provisions of the Act or any other law for the time being in force, the Board may
refuse whether in pursuance of any power of the company under these Articles or
otherwise to register the transfer of, or the transmission by operation of law of the
right to, any Shares or interest of a Member in or Debentures of the Company. The
Company shall within one month from the date on which the instrument of transfer,
or the intimation of such transmission, as the case may be, was delivered to
Company, send notice of the refusal to the transferee and the transferor or to the
person giving intimation of such transmission, as the case may be, giving reasons for
such refusal. Provided that the registration of a transfer shall not be refused person
283