gayatri projects limited - Edelweiss

for all his shares of each class with out payment. or (b) Several Certificates, eachfor one or more of such shares, upon payment of one rupee for every certificateafter the first, or such less sum as the Directors may determine. The expression“transfer” for the purpose of this article means transfer duly stamped and otherwisevalid and does not include any transfer which the company is for any reason entitledto refuse to register and does not register.Signature on certificatesOne certificate for joint holdersRenewal of certificatesFee for new certificateCompany’s shares not to be purchasedEvery share certificate shall be issued under the Common Seal of Company andshall be signed by (i) two Directors (ii) a Secretary or any other person authorisedfor the purpose by the Board of Directors. Every certificate shall specify the sharesto which it relates and the amount paid up thereon.In respect of any share or shares held jointly by two persons, the company shallnot be bound to issue more than one certificate, and delivery of a certificate forshare to one of the two joint holders shall be sufficient delivery to both the holders.If any certificate be worn out, decrepit or defaced, or if there are no further pageson the back thereof for the endorsements of transfer, then upon production thereofto the Directors, they may order the same to be cancelled and may issue a newcertificate in lieu thereof free of charge and if any certificate is proved to havebeen lost or destroyed, then upon proof thereof to the satisfaction of the Directorsand such indemnity as the Directors deem adequate being given to the partyentitled to such lost or destroyed certificate. Similarly if any share or shares besurrendered to the company for subdivision and split or consolidation, the Boardmay order the same to be done free of Charge.The sum of two rupees, the out of pocket expenses incurred by the company ininvestigation for evidence and the advertisement cost or such less sum as theDirectors may determine shall be paid to the company for every such newcertificate and the like fee shall be payable in respect of each sub-division ofcertificates.Provided that no fee shall be charged for sub-division or consolidation of certificatesinto lots of the market unit or for issue of new certificates in replacement of thosewhich are old, decrepit or worn out or where pages on the reverse for theendorsements for transfer have been fully utilised.Notwithstanding anything contained contrary in this Article, the Company shallsubject to the provisions of the Act, and particularly of sections 77A, 77AA, and77B thereof, and the Regulations made there under have the power to buy backits own shares or other specified securities.”CALL ON SHARESC a l l sWhen call deemed to have been madeThe Board of Directors may by a resolution passed at a Meeting of the Board fromtime to time, subject to any terms on which any shares may have been issued,make such calls as they think fit upon the share holders in respect of all moneysunpaid on the shares held by them respectively, and each member shall pay theamount of every call so made on him to the persons and at the time and placeappointed by the Board. A call may be made payable by instalments.A call shall be deemed to have been made at the time when the resolution of theBoard of Directors authorising such call was passed.At least thirty clear days’ notice of any call shall be given by the company (eitherby letter to the members or by advertisement) specifying the time and place ofpayment and to whom such payment shall be paid.203