gayatri projects limited - Edelweiss

GAYATRI PROJECTS LIMITEDShares at the disposal of the directors Subject to the provisions of the Companies Act, 1956 and these Articles, the sharesshall be under the control of the Directors, who may allot or otherwise dispose ofthe same to such persons, on such terms and conditions, and at such times asthe Directors may think fit. Provided that option or right to call on shares shall notbe given to any person or persons without the sanction of the Company in GeneralMeeting and where at any time it is proposed to increase the subscribed capitalof the company by the issue of new shares then, subject to the provision of Section81 of the Act, the Board shall issue such shares in the manner provided therein.Liability of joint holdersAddress of share holdersIn whose name shares may beregisteredTrust not recognisedBrokerage and commissionCommissionMethod of payment of commissionCertificatesThe joint holders of the share shall be severally as well as jointly liable for thepayment of all instalments and calls and interest on instalments and calls due inrespect of such shares.Every share holder shall name to the company a place in India to be registeredas his address, and such address shall for all purposes be deemed his place ofresidence.Shares may be registered in the name of any person, the joint holders, or anyLimited Company, but not in the name of a minor, nor shall more than three personsbe registered as joint holders of any share.Subject to the provisions of Section 153-A, 153-B and 187-B of the Act, and exceptas required by law, no person shall be recognised by the company as holdingany shares upon any trust, and the company shall not, save as ordered by somecourt of competent jurisdiction be bound by or be compelled in any way torecognise (even when having notice thereof) any benami, equitable, contingent,future or partial interest in any share or any fractional part of a share or (exceptonly as by these regulations or by law otherwise provided) any other rights inrespect of any share except an absolute right thereto in the person or personsfrom time to time registered as the holder or holders thereof.The Directors may allot and issue shares in the capital of the company in paymentor part payment for any property sold or transferred, goods or machinery suppliedor for services rendered to the company in or about the formation or promotion ofthe company, or the conduct of its business and any share, which may be soallotted may be issued as fully paid up shares and if so issued shall be deemedto be fully paid up shares.The company may on any issue of shares or debentures pay such brokerage asmay be reasonable and lawful.In addition to the payment of any reasonable sums as brokerage the company, atany time may pay a commission to any person for subscribing or agreeing tosubscribe (whether absolutely or conditionally) for any shares, debenture ordebenture stock in the company, or procuring or agreeing to procure subscriptions(whether absolutely or conditionally) for any shares debentures or debenture stockin the company but so that (if the commission shall be paid or payable out of thecapital) the commission shall not exceed 5 per cent of the price at which the sharesare issued or 2.5% of the price at which debentures are issued.The commission may be satisfied by the payment of cash or the allotment of fullyor partly paid shares or partly in one way and partly in the other.Every person whose name is entered as a member in the register of membersshall be entitled to receive within ten weeks after closure of subscription list orone month after the application for the registration of the transfer of any share (orwithin such other period as the condition of issue shall provide) : (a) One certificate202