RED HERRING PROSPECTUS Dated August 24 ... - Globus Spirits

167. No member shall be entitled to receive payments of any interest or dividend in
respect of his share or shares, while any money may be due or owing from him to the Company
in respect of such share or shares or otherwise howsoever, either alone or jointly with any other
person or persons and the Board may deduct from the interest or dividend payable to any
member all sums of money so due from him to the Company.
168. A transfer of share shall not pass the right to any dividend declared thereon
before the registration of the transfer.
169. Unless otherwise directed, any dividend may be paid by cheque or warrant or by
a pay-slip or receipt having the force of a cheque or warrant sent through the post to the
registered address of the member or person entitled or in case of joint-holders to that one of
them first named in the Register in respect of the joint-holdings. Every such cheque or Warrant
shall be made payable to the order of the person to whom it is sent. The Company shall not be
liable or responsible for any cheque or Warrant or pay-slip or receipt lost in transmission, or for
any dividend lost to the member or person entitled thereto by the forged endorsement of any
cheque or warrant or the forged signature of any pay-slip or receipt or the fraudulent recovery of
the dividend by any other means.
170. No unclaimed dividend shall be forfeited by the Board unless the claim thereto
becomes barred by law and the company shall comply with the provision of Sections 205A and
205C of the Act in respect of all unclaimed or unpaid dividends.
171. Any General Meeting declaring a dividend may, on the recommendation of the
Directors, make a call on the members of such amount as the meeting fixes, but so that the call
on each member shall not exceed the dividend and the dividend may, I so arranged between the
Company and the member, be set off against the calls.
171A. Where the company has declared a dividend but which has not been paid or
dividend warrant in respect thereof has not been posted within 30 days from the date of
declaration to any shareholder entitled to the payment of the dividend, the company shall with in
7 days from the date of the expiry of said period of 30 days open a special A/C in that behalf in
any scheduled bank called "Unpaid dividend of Globus Spirits Limited" and transfer to the said
account the total amount of unpaid dividend or where no dividend warrant has been posted. Any
money transferred to the unpaid dividend account of the Company which remains
unpaid/unclaimed for a period of 7 year from the date of such transfer, shall be transferred by
the Company to the General Revenue A/C of the Central Govt.
A claim to any money so transferred to the general revenue account may be
preferred to the central govt. by the shareholders to whom the money is due. No unclaimed/
unpaid dividend shall be forfeited by the board.
CAPITALISATION OF RESERVES
172. Any General Meeting may resolve that any moneys, investments, or other assets
forming part of undivided profits of the Company standing to the credit of the Reserves, or any
Capital Redemption Reserve Fund, in the hands of the company and available for dividend or
representing premiums received on the issue of shares and standing to the credit of the Share
Premium Account be capitalised and distributed amongst such of the members as would be
entitled to receive the same if distributed by way of dividend and in the same proportions on the
footing that they become entitled thereto as capital and that all or any part of such capitalised
fund be applied on behalf of such members in paying up in full any unissued shares, debentures,
or debenture-stock of the Company which shall be distributed accordingly or in or towards
payment of the uncalled liability on any issued shares, and that such distribution or payment
shall be accepted by such members in full satisfaction of their interest in the said capitalised
sum. Provided that any sum standing to the credit of a Share Premium Account or a Capital
Redemption Reserve Fund may, for the purposes of this Article, only be applied in the paying up
of unissued shares to be issued to members of the Company as fully paid bonus shares.
173. A General Meeting may resolve that any surplus money arising from the
realization of any capital asset of the Company or any investments representing the same, or
any other undistributed profits of the Company not subject to charge for income tax, be
distributed among the members on the footing that they receive the same as capital.
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