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REGISTERED NO. D-28

The Gazette of India

EXTRAORDINARY

PUBLISHED BY AUTHORITY

NEW DELHI, FRIDAY, AUGUST 6, 1948

GOVERNMENT Of INDIA MINISTRY OF INDUSTRY AND SUPPLY

CORRIGENDA

New Delhi, the 4th August 1948.

No, 80-Tex.l/48.—In the Ministry of Industry and Supply Notification No. 80-Tex.l/48 dated the 2nd August 1948 published at pages 1191-1200 of he Gazette of India Extraordinary dated the 2nd August 1048, the following amendments shall be made: —

(i) In clause 8 (g), for the word "fininshing", road "finishing". (ii) In clause 5(2), for the figure "SO", where it occurs for the second

time, read the figure "32",

(iii) In (a) of the proviso to clause 17{1), for the word "cont", read

"count".

(iv) In clause 28(1) (f), for the word "that", read "than". (v) In clause 27, for the words, brackets and figures "Clause 22(2) (b)", read the words, brackets and figures "Clause 22(l)(b)".

(vi) In clause 27, for the word " a n d" where it occurs for the first

time, read "end".

(vii) In clause 29(3), for the word "Commission" read "Commis-

sioner".

M. P. PAI, Joint Secy.

Bombay, the 4th August 1948

No. 80-Tex. 1/48(1).—In the Ministry of Industry arid Supply Notification No- 80-Tex.l/48(iii) dated the 2nd August 1918, published at pages 1200 to 202 of the Gazette of India Extraordinary dated the 2nd August 1948, the following amendments shall be made: —

(1) In clause 8, for the word "bal ore", read "bale or". (2) In the Explanation to clause la, for the words "to person holding

a license", read "to a person holding a license".

No. 80-Tex. 1/48(11).—In the Ministry of Industry and Supply Notification No 80-Tex. l/48(iv) dated the 2nd August 1948, published at' page 1202 of he Gazette of India Extraordinary dated the 2nd August 1948, the following amendments shall be made: —

(1) For the word "clau e", read "clause". (2) For the word "mo th", read "month''. (3) For the words "cloth yarn", read "cloth and yarn". (4) For the word "and or" in the last line, read "or".

T. P. BARAT. Textile Commissioner.

(1211)

MINISTRY OF WORKS, MIMES AND POWER NOTIFICATION

No. 3S67-W-IV/48.—The following order of requisition No. 61-E.O.VII^ Eeq. of 1948, dated New Delhi, the :>lst July 1948, is published for inform^' tion: —

GOVERNMENT OF INDIA

ESTATE ornos

OEDEE OF HEQU1SIT1ON

New Delhi, the 31st July 1948

No. 61-E.O.VII/Req. of 1948.—Whereas with a view to requisition thji premises specified in the Schedule hereto appended for a public purpose, Bai Sahib G. T. Meshram, Estate Officer to the Government of India, issued a notice under sub-section (8) of section S of the Delhi Premises (Requisition and Eviction) Act, 1947 (XLIX of 1947) calling upon the landlord and -tie tenant or. the person in possession of tne said premises, to show cause wi.lhm seven days why the said premises should not be requisitioned;

And whereas the said period of seven days has expired and the cau-cs shown by Seth Satnarayan as landlord of the said premises, have been con- sidered by me, and I am satisfied that it is necessary to requisition the said premises for a public purpose, viz., proper and efficient functioning of the Government of India;

Now, therefore, in exercise of the powers conferred by sub-section V4) of section 3 of the said Act, I, B. M. Lai, Estate Officer to the Government of India do hereby requisition the said premises with immediate effect until further orders.

Further in pursuance of the proviso to sub-seetion (4) of section 3 oi-4j!ie said Act, I do hereby declare that it Is not possible to provide any a l t e r n a te '' accommodation to the landlord or tenant of the said premises who may be using the same for the residence of himself or his family.

SCHEDULE

Satnarayan Building (3 storeyed) situated between Goenka Eoad and Dina Nath Eoad, Subzimandi, Delhi, with ill fixtures, fittings and furniture, therein and'all outhouses, motor garages, servants quarters compound and other appur- tenances attached thereto.

B. M. LAL, Estate Officer

1. Seth Satnarain,

C/o M/s Parasram Harnand Eai,

Katra Tambakoo,

Khari Boali, Delhi.

2 Seth Durga Pnrsad,

C/o M/s Parasram Harnand Eai,

Katra Tambakoo.

Khari Boali. Delhi.

3 Soth Hurai Xsvayan

C/o TM/s PavHSvam Harnand Eai,

Kaira Tambakoo,

Khari B^al\ Delhi.

4. To be affixed at the premises.

5. To be-published in official. Gazette. .

B. B. PAYMASTER, Dy. Secy.

CONSTITUENT ASSEMBLY OF INDIA

NOTIFICATION^

New Delhi, the 2nd August, 1948 -'Ho. CA/43/Ser/48-I.—WHEREAS in view of the changes that have recently take a place in the constitutional and administrative position of a very large number of Indian States, difficulties have arisen in the carrying out of the Cons- tituent Assembly Rules in respect of the seats allotted to the Indian States in the Assembly: ' • •

NOW, THEREFORE, in exercise of the power conferred by rule 66 of the. said Rules and of all other powers enabling him in that behalf, the President of tire Assembly hereby makes the following provisions for the purpose of removing the said difficulties: —

I. For rules 5-A and 5-B of the said rules, the following rule shall be subs- tituted : — "

_--*"5-A. When a vacancy occurs by reason of death, resignation or otherwise m the office of a member of the Assembly representing an Indian S.tate or more than one Indian State specified in column 1 of the Annexure to the ScheduL, to these rules the President shall notify the vacancy and make a request in writing to the authority specified in the corresponding entry in column 3 of that annexure to proceed to fill the vacancy as soon as may reasonably be practicable by election or by nommation, as the case may be, in the case of the States speci- fied HI Part I of the said Annexure, and by election in the case of the States specified m part II of that Annexure:

Provided that in the case of the States specified in Part I'of the said An-

^e X^ ' f 'JTh e re t he S e at WM m)ei Pre^MwJy by nomination, the vacancv may refilled by election; "J

- ^Provided further that in making a request to fill a vacancy by election under thw rule the President may also request that the election be completed within "ueh time as may be specified by him."

subSitSd⁰—"⁸⁶ (b) °f rUle ⁵¹ °f t he "a'd rUl⁶S) t he MhwinZ clause ³ h a ll be

;(b) 'Returned candidate' me ins a candidate whose name has been publish- oLm t^fPP^Pnate Official Gazette as a duly elected member of the Assembly ' and includes a candidate whose name has been reported to the President in the manner provided in pa-agranh 5 of the Schedu'e to these rules as a dulv chosen

. III. In the Schedule to the said rules:

"3 (1) When the representation allotted -to the States indivi^ml

grouped ,n the Assembly or the grouping of the States foT he purpose of Such ivpre.entafcion is altered by an order made under p a r a ph -i or b? ar I *'l meat of the Annexure to this Schedule, the President may by ordei--

aS s . t ^ t e ts s rt i ng astateorstates *°'such sMte - *^~

( b) d e c l a re t he s e at or s e a ts of a ny m e m b er or m e m b e rs of " ,„ A n •

represenfang any State or States affected bv an ord^Tndez nar-,^ ,AIS e m b ¹^ ^ e n d ^t of the Annexure to this Schedule, as the" Z ^ h e ^L tSutf

" ^ \ X " c &(^ A 5 i £ 5 ^1s ;hru shtates K"orde; • glared vacant under^lause (b)Pof L ? J l Z £ 3 ^ ^ £ * J" "

the orclc-r bo defined to be a duly ehoRen representative of such State or Mutes.

ifi) A member whose neat is rlerlarcvl vacant by tin order mado under elun-^- (b) of Bub-puragi'flph (1) nhall, if it is bu specified in the order, continue to hoM office as member of the Assembly until hiss successor has been duly elected and has tnkun his seat iu the Assembly,

4. (1) Nit less than fifty per cent of the total representatives of the States specified in column 1 of Part 1 of the Annexure to this Schedule in the Assembly siui.ll In; elected by the elected members uf the legislatures of the States eou- uemeil. or where such legislatures do not exist, by the members of electoral colleges constituted in accordance with the provisions made in this behalf by the authorities specified in the corresponding entries in column 8 of thtit Part.

('2) All vacancies in the se,its in the Assembly allotted to the States speci- fied in column 1 of Part II of the Annexuro to this Schedule shall be filled by election and the representatives of such States to he chosen to fill such seats shall lv elee.tad by the elected members of the legislatures of the States con- cerned, or where such legislatures do not exist, by the members of electoral aolLeges constituted in accordance with the provisions mado in ibis behalf by the authorities apeoified in the corresponding entries in column 3 of that Part.

5. On vhe completion of the election or nomination, AH the rase may be, of the representative or representatives of any State or States specified in column 1 of the Amiexure to this Schedule in bhe Constituent Assembly, the authority mentioned in the corresponding entry in column 3 of that Annexure shall irak" a notification under hie signature and the seal of his office stating the nume or *ame" of the person or persons eo elected or nominated and cause it to bo com- Mumcated to the President of the Assembly".

New Delhi, th" &rd Augutt 1948

No. OA/43/Ser/48-H.—WHEREAS in view of the changes that have re- o&ntly taken place in the constitutional and administrative position of a very lArge number of Indian States, difficulties have arisen in the carrying out of the Constituent Assembly Rule* in respect of the Beatfl allotted to the Indian States in the Assembly;

NOW, THEREFORE, in eierciw of the power conferred by rule 66 of the said Bulea and of all other powers enabling him in that behalf, the President of tfoe Assembly hereby makes the following provision for the purpose of removing the said difficulties: —

For the Annexure to the Bohedule to the said Rules, the following Annexure "haTl be substituted: —

ANNEXUBE

N o me of S t a te or S t a t es PART I

Authority for the purpose of Number of seatB allotted In the Con- stituent AnaeTnbly

1

H Y D E R A B AD . . ..

M Y S O RE

the ohooHing of representatives in the Cnnntituent Asanmbly

2

3

Ruler of Hyderabad.

16

7

Ruler of Mysore.

Ruler of Kashmir,

4

KASHMIR

BAROBA

•

T R A V A N 0 O RE . . ..

Ruler of Baroda.

8

Ruler of Travaneore.

0

¹

3

3

R u l er of C o c h i n,

Ot'-HIN

I

•

o

R u l er of J o d h p u r.

ODHPUR

R u l er of J a i p u r.

AlPUft

3

RiU"r of B i k a n o i '.

U K A N ER

I

R u l er of B h o p a l.

(HOPAL

1

Hirler of K o l k a p u r.

LOLHAFUR ,

1

R u l er of M n y u r b h a n j.

I A Y U R B H A NJ . . ..

1

R " l "r of Coooh B e h " r.

IIKKIM COOCH B B H AR

1

H U IM of T r i p u m.

R u l ur of R f t m p u r.

I

I A M P UR J E N A B ES

\ /

P A BT i]

) R I S 3A S T A T ES :

A t h g a rh . A t h m a l ik . . .. B a m ra , B a r a m ba . . . .. B a n dh B o n al . . . .. D u H p a l la . . . .. D h o n k a n al . . .. G a n g p ur . . . .. H i n d ol KalaliBnili . . .

G o v e r n o i¹ of OfiBna.

13) K e o n j l i ar . . .. K h a n d p a r f li . . .. N " a r a i n g h p i iT . . .. N a y n g a rh . . .. N i l ^ i ri . . . .. P al L a h a i 'H . . .. P a t n a, . . . .. R u i r a k h ol . . .. R a n p ur . . . .. S o n e p ur . . . .. T a l n h or T i g i r ia , , . . .

~]

BaHtHi' C b a n g U W i a k ar . . . .1 C h h n i k a i l nn . . .. J a sh p ur . . . .. K a n k or . . . .. K a w a r i l l ia . , , .1

( J o v s n i or of C e n t r al P r o v J n o ea

3

a nd Berai".

. ..

5) K h a i r a g mh . .. . K o r ea . . .. NandgoorL . . .. K a i g a rh . . . .. S a k ti Saranifai-h . . .. S u r g u ja . . . .. U d a i p ur , M a k r ui . . . ..

1

2

3

M A D R AS S T A T ES :

1

Oovornar of Madrajj.

B a n g " n a p n l )e . . . . \ P u d u k k o t t ai . . . . /

B O M B AY HTATEB :

B s i p i p la . P a t f t n p ur . . . .. O a m b ay . . . .. D h t t r a J n p u i' . . .. J i a l a f l i n or . . .. fiai'itt . . . .. f'hhotn Udepur Kant L u n a v r a d a. . . .. B a n s dn . . . .. H o o h io . J t s w h at . . . .. D a n ta J a n j i r* , , . . . H a n g li . . . .. S a v a n t v a di . . .. M u d h ol

- 2 5 ) B h or

'

Governor of Bombay.

J o w k h a n di . • • • M l r ai (Sv.) . M i r aj ( J r .) . . . . I K u r u n d w od (Mr.) . . | K u n u i d w ad ( J r .) 4 k u l k ot 1 P h a l t a ii J a th | A u u dh . . . . 1 B a m d r ug . . .. I d ar B a d h a i i p ur . . .. S i r o hi . . . .. 8 a v a n ur . . . .. W a di V i j a y a n a g ar . . .. J a m b u g h o d ft . . .. 271 m i n or s t a t e s, ( t h a n a s, "to.) _

H I M A C . ' H AL P R A D E . SH :

B o n h n hr . B i T m ar . . . .. C b t t m ba . . . .. M f t n di S u k et B a g h aJ . . . .. B a g l mt . . . .. B a l H Hn . B l n t j ji . . . ..

Chief Commissioner of HimacliuJ W) Bija

,

Pradesh. s Pai'koti fihimi . . . .. J u b b t il . . . .. K e o u t h al . K u m h a r " a in . . .. K u n i h a i' . . . .. T f u t h ar . M a h l oK • M a n g a) . . . .. S a n g ri . . . .. Thurouuli . . • •

]

TTMTTED STATE OF K A T H I A W AR (SAURASHTRA).

UNITED STATE OF MATSYA

U N I T ED STATE OF RATASTHAN

U N I T ED STATE OF VINDMYA P R A D E S H.

U N I T ED STATE OF GYVALTOR- INDORE-MALWA (MADHYA B11ARAT).

PATIAI.A AND EAKT P U N J AB V8TATEH UNION.

OUTCH

JUNAGADH

R E S I D U A RY STATES :

JuJnulraei' . . . . ~) Sajidur . . . , . 1 Tehri-Uarhival . . . . ] Bilaspur , , . . . |

B I H AR S T A T E S:

Noraikflu . . . .. Kharsavan . . ..

E^HT P U N J AB STATES :

0-

L o h n ni . P u t m i di . . . .. D u j a na . . . ..

2

3

4

Rttjpl'ftmiikh of tho State.

2

Rajpruinuk.fi of the Htate.

i

Kajprumukh of thu State.

4

RnjprHjniikh of thp State.

7

Rftjprainukh of the State.

3

Rajpramukh of the Union.

1

Chief OommisMionor Of Cutch.

1

Ailmmietrator of Junagadh,

1

Kiicli authority UM may be ctji- jHiiiited hy tlio (iovei'iiment of India.

40

8fi

GRAND TOTAL OF Parts I and II

Neiv Delhi, the 4th Auguat 1948

No. 0A/43/Ser/48-III.—"WFTKBEAS the representation in the Constituent Assembly HIlotted to certiuiu Jndian States (individual or grouped) and the ""Jfrouping of certain Indian States for the purpose of aiuih representation have been filtered by an amendznont of tlie Annexure to the Schedule to ihe Consti- tuent AsHeinbly Eules by provision mnde in fiat lielialf under nilfi CA of the said ltules aud published under notification Nn. CA/43/Sei7-18-IT, Jatod Ord August, IM8:

NOW, THE1(E"F()EJC, m exercise of the power confeiTed by paragraph 8 of the iS.i'hedule to tha said Eules ag nmended under uolifio.atiou No. CA/48/Ser/ 48-], dated 2nd August, 1U48, >md nf till other powers enabling him in thut behalf, the President of the Assembly hereby makes the following order: —

1. The inrinbi.rs uf tin* Constituent Assembly nnnied in column T of the First j*^ohcdulo annexed to this order representing the Stnte or States specified in the -<*oiTesponding entries in colutnn 2 uf that Schedule are hereby re-assigned to the State or ;Statcs specified iu the corresponding entries in column 3 of that fcietiechile.

2. ih.?. scuta of t.ho members nt the Constituent Assembly named in ooluma .

1 of tli.j Socond Schedule tinnexe

Htate ov States specified in the correnpondirif,' entries in column 'J. of thuir

fcschndulu and havo been rc-assigned to the Stnto specified in the corresponding

entries in column 3 of that Schedule are hereby declared vftcnnfc.

FIRST SCHEDULE

State or Staten originally

Nan\e of Men)her

State or Stateti t* •whioh ra-assignftd

repreeented

1

2

1

Orissa Statea.

~| Eastern States Group I, of

which the Hulor of Baud

> State waH the couvenor.

Sbri N. Madhava Rau Wai Bahadur Lala R"j Kanwar Shri Sarangdhar Daa Khri Yudhishtlr MIHIITB.

Shri KiBhorirnohan Tripathi Shri RuinpraHa4 Potni

("entral Province* and

\ Eawtern States Group IT, of f wbii^h tho Ruler of Baud State was tho oonvener.

Khan Bahadur F. Kothftwala*] Hhrl Vinayak Rao B. Vaidyti

Berar States.

\ Oujerat States Gromi, of / whiuh tho Ruler of llaj- pipla State wan thu con- vener.

Mhri B. N. Munavalli

Bombay Statofl.

Deooan and Madras Sta- ton Group, of whioh the Kuler of Miraj (Junior) State was the convener.

Shri Gokulbliai DaiUfttran; Bhatt, Easterii RajpuMna Sta- tus Group, of whifh the Ruler of BUndi State was the convener

i Residuary States Group, ") I of whioh tho Ruler of >•

Shri Balwmitrni Oopalii Mehta Shri Jal Sukh Lul Hathl

United State of KB, thiawai (Saurashtra).

Baghut State waa tho J convener.

Tndorn "J

Uaited Stato of Oiw-

I Gwnlior

Bhii V. B. Harwate "1 Lt. Col. Brijraj Narain Shri Gopikrluliiiii Vijayavargiya Khri Ran\ Sahtii

Piitialo gardar Jaidpv Sifagh

j Hor-IndoT'e - Malwa (Madhya Bharat).

Patiala and East Punjab State* Un-oBi

Outul'.

\\"oHtei n India iStatoa

Sliri Bhawanji Arjmi Kliiip.ji

Group, of whioh the Rn- Hir of Nawanagar State

wan tho convener.

K'otah Lt. Col. Kr. Dale! Singhji

United St"ts $ RajftHth*n.

Stato to whlrh re-

tate or States originally

a

sfwignetl

ropresotiterl

N"n-o of Veu'.bew

3

a

Udftipvu'

Dr. Sip 8. V. Rftmftmuitihi 1 Shii M"ulky" Lai Vanna j

Mahtwaj Mandhatft Sijigh Shri Baldeo Sirarup

y Unite

f Eoatem Eajputana Sta- tes Group, of whioh the Ruler of Bundi State wn"8 W"o ooiivenor.

i- R"wa

Raja Lai 8h"v Bahadur Singh Rao of Churhat Shri JU1 Y"davendra Singh Major Maharaikumar Puehpendra

Singhji

. United Stato of Vin-

(ihyd Pradesh.

Ko -Raja Jayendra Singh Ju t)eo ^ | Pandit Chatiirbhuj Pathak

i-L'entral Tndia States J Group of which the Ru- ler of Ponnft State wa" the cottvoaor.

Kiua-vrar StliaiTvahor Jung

Keaiduary States Group, of which the Ruler of Baghat State waa the convener,

.,

.SECOND SCHEDULE

Lt. Col, Kr, Dale! Singhi

Kotah

Udaipui-

Dr. Sir 8, V. Rainamnrthi 1 Sliri Manikyn Lai Verma j

• United State of Rftj-

awthftn.

IJTaharaj Mandhata Ningh 1 Shri Baldeo Swamp | &6S I I 'H £ £ 'L

Kaat*)m Rajpntana Sta- tes, Group, of whioh the lluler of Bundi Stato wan the i onvenor.

Raja Lai Shiv Bahadur Singh Rao of Churhat fclhri J^al Yadvendra Singh

<• Hewa J

\ TTniled Stale of Vin* Major Mahai-AJkuuiar Pii.slipen'lra"

dhya PrudeMb.

Hinghji

Rao Raja Jaycudra Singh Ju DPO Pandit Uhatiirbhuj PRthak

Central Tn

Kmiwai¹ MliarrKhPi' .Timn

Resiitium- >StatOH Group, of which tl.o Ruler of Baghat Stnte was tl"¹⁰ aonvenoi'.

By nrdev.

S. X. MUKR1UEE, Joint Heoy.

INDUSTRIAL FINANOI CORPORATION OF INDIA

[INCORPORATED UNDER THE INDUSTRIAL FINANCE .CORPORATION

ACT 1948 (XV OF ]fl48)]

GENERAL REGULATIONS

INDUSTRIAL FINANCE CORPORATION OF INDIA

Regulations

In pursuance of the Industrial Finance Corporation Act, 1946, the Board of the Corporation, after consultation with the Reserve Bank of India and with the previous sanction of the, Centra] Government has made the following regulations:—.

CHAPTER I

Introductory

1, Definitions.—In these regulations, unless there is anything repugnant if> the subject or context: —

(a) "the Act" means the Industrial Finance Corporation Act, 1040; (h) other terms have the meaning assigned to them in the Act.

CnAI'TEE IJ

Sluti'cfi oj the Corporation

12. Shares movable property.—The shnreR of the Corporation Bhnll he mov- able property.

ii. Membership 0I the Corporation—(i) Membership of the Corporation shall be limited to the Central Government, the Reserve Honk, Scheduled Banks, Insurance Companies, investment trusts nnd other like financial institutions and Co-operative banks,

(ii) The decision of the Board on any question whether any company, cor- poration or association is an investment VuRt or other like financial institution within the meaning of mib-section (3) of section 4 of the Act shall be final.

4. Conditions of first allotment of shares.—(i) Subject to the provisions of the Act and these Regulations the shares of the Corporation shall be under the control of the Directors.

(ii) The first allotment of shares tthall be made in accordance with the pro- vision of suction 4 of the Act to applicant who ave qualified to be registered as shareholders of the Corporation.

(iii) The Board may make allotments to the applicants for shares either in full, or m part depending on the number of applicants from the class of shaio- holders concerned. In wo far n." it in practicable, the Board nhall make full allotment in respect of applications for small numbers of shares so that there may be ns nmny shareholders of thai class as possible.

(iv) The decision of the Board us to whether in a particular application for shares of the Corporation there shall be full, partial or no allotment shall be final.

(v) For the purpose of making the first, allotment, there shall be a committee of the Hoard Consisting of the Chairman, the Managing Director and one Director who shall be appointed in this behalf, by the Chairman. The Com- mittee so constituted shall exercise all the powers of the Board in making the allotment of the shares.

fi. Share Register.—(i) The Corporation shall maintain at its bead office a register of shareholders qualified by the Act to be registered therein and shall: enter therein the following particulars:

(a) the name nnd address* nt which each shareholder has his principal place of business,

(b) under which of the categories of sub-section (2) and (3) of section 4 of the Act the shareholder is qualified to be so registered.

(c) the date on which each person is so entered as ii shareholder, the manner- in which he acquired his share or shares aud except in the oase of first allot- ment, the name of th'j previous holder.

(d) the date on which any person ceases to be a shareholder, and the name of the person to whom nnd the ledger to which the share or shares are transferred.

(ii) In the share register, a separate ledger shall be maintained in respect of eftoh of the categories of shareholders referred to in section i of the Act namely the Central Government, the Reserve Bank, the Scheduled Banks, Insurance Companies, investment trusts and other like financinl institutions and co- operative banks.

6. No joint holding Of Bharefl.—The corporation shall not recognise the joint holding of shares.

7. Inspection of share Register.—(j) The shure register prescribed by regula- tion 5 except when closed under the provisions of these regulations shall be opori to the inspection uf any shareholder gratis at the head ollic-? of the Corporation during business hours subject to such reasonable restrictions ns tho Corporation ma\ impose, but so that, not less thnn two hours in each day may bo allowed frr inspection,

(ii) A shareholder shall not have the right himself to make n. copv of any entry in any such register, but may, except when the register is closed require a copy of any such register i.r of any part thereof on pre-poyment therefor at the rate of 8 annas for every hundred words or fractional part thereof required to be copied.

8. Closure of Share Register.—The 'Board may, by giving notice by adver- tisement, clone the share register for such periods (not exceeding six weeks at any one time) as shall in its opinion be necessary.

G. Share Certificate.—(i) Every share certificate Khali be issued under the common seal of the Corporation.

(ii) Every share .certificate shall specify the number and denoting nunibers of the share or shares in respect of which it is issued.

10. Every shareholder entitled to one free share certificate.—(i" The Central Government and the Kesfrve Bank shall t_ ach be entitled, fr.je ot charge, to one certificate for .ill the shares regime red in their mime.

(ii) Every shareholder other than the Central Government and the Reserve Bnnk shall be entitled, free of charge, to one certificate for each IS shares re- gistered in bin name. If any shnrebolder shall require more than one eertifieaio for each 5 shares held by him he shall pay for each additional cortliicate the sum of Re. 1. Shareholders holding less than 5 shares shall be entitled, free of charge, to ore share rertifu'iile and if they require more than one i ertincate shall pay for each additional certificate the sum of Re. 1.

11. Renewal ol share certificate.—(i) If any share certificate is worn <>ui. or defaced or tendered for sub-division then upon production thereof to the head office of the Corporation it may order the same 1o be cancelled and issue a new certificate or certificates in lieu thereof and if any share certificate is alleged to be lost or destroyed then upon production or such evidence of the loss on

destruction thereof an the Board tuny consider satisfactory and upon si.cb indemnity with or without security >i.s the Board may require H. new certificate in lion thereof shall be given to the purty entitled to such lust or destroyed certificate find in case of logs or deetmction the person availing himself of the provisions of 1-his regulation flhftll also pay to the Corporation nil expenses incident to tbe investigation of. evidence, of lofis or destruction and the preparation of tho re- quisite foun of indemnify as aforesaid.

(ii) For every certificate issued under this regulation there shall be paid to +he Corporation a sum of Re. 1/-.

13. Tranafer erf Shares.—(i) Subject) to the restrictions contained in the Act and in these regulations, shores shall be transferable, but every transfer must bfl in writing in the following form and executed by persons duly authorised to do so on behalf of the shareholder concerned.

We A.B. (namu and address) in consideration of tho sum of rupees—-— paid to us by C. D. (name and address) (hereinafter called "the transferee**) do hereby transfer to the transferee the share (or shares) •numbered •———- in the Industrial Finance Corporation of India to hold unto the transferee and their assigns, subject to the several conditions on whioh we hold the same at tbo time of the execution hereof and wo, tho transferee, do horeby agrt;e to tako the said bhare (or shares) subject to the conditions aforesaid and wo the transferee request that we be registered in respect of the said share (or shares) in the registers of tho Corporation,

As vvitness our hands •—• —dav of—• —

Transferor

- .

(address)

Transferee

;—

(address)

(ii) The instrument of transfer of any share shall be submitted to the Board •of the Corporation and shall be signed by the transferor and the transferee and the transferor shall bo deemed to remain the holder of such shaiv until the name of the transferee is entered in tho register. Each signature to such transfer shall be duly attested by the signature of one credible witness who shall add his address and occupation.

I'd. Power to refuse recognition of transfer.—(i) The. Board m ay decline to "recognise any instrument of transfer unless,

(n) n sum not exceeding rupees ten is paid to the Corporation in 'expect thereof which sum shall not in any event be refunded;

(b) the instrument of transfer is accompanied by the certificate, of tho shares to which it relates aud such other evidence aa the Corpora- tion may reasonably require to show the right of the transferor to make the transfer.

(ii) Upon receipt by the Bourd of rm instrument of transfer with n ifquesB to register the transferee, the Board shall make such enquiries as may h? considered necessary to satisfy itself that the proposed transferee is qualified under lihe Act and those, regulations to bo registered as o shareholder.

14. Corporation's Hen on ahar"8.—The Corporation shall have n first find paramount lien upon all shares registered in the name of each shareholder and upon the proceeds of sale thereof for his debts, liabilities and engagements solely or jointly with any other person to or with the Corporation whether tRe period for the payment, fulfilment or discharge thereof shall have actually

(ii) Except with the consent of the Chairman, no business shall be trans- -acted or discussed at any special general meeting except the business for which the meeting has been specifically convened.

20. Quorum at General Meetings..—No business shall be transacted at p.ny meeting of the shareholders, whether the annual general meeting or other general meeting, unless a quorum of 10 shareholders entitled to vote at such meeting in person or by proxy or by duly authorised representative is present at the commencement of such business, and if within fifteen minutes from the time appointed for the meeting a quorum is not present, the meeting, if it is not an annual general meeting, may be dissolved by the Chairman; in any _ other case or if the meeting is not so dissolved it shall stand adjourned to the same day in the following week at the same time and place, and if at ' such adjourned meeting a quorum is not present, the shareholders who are present shall form a quorum provided that no annual general meeting may be adjourned to a later date than two months . after the 30th June and if adjournment would have this effect, the annual general meeting shall not be ad- journed but the business of the meeting shall be commenced one hour from the time appointed for the meeting and those shareholders who are present in person or by proxy or by duly authorised representative shall form a quorum.

21. Chairman at General Meetings.—(i) The Chairman of the Board or in his absence a Director (other than the Managing Director) authorised by the Chairman in writing in this behalf shall be the Chairman at all general meet- ings and in default of such authorisation, the meeting may elect any other Director to be the Chairman of the meeting.

(ii) The Chairman shall regulate the procedure at all general meetings and in particular shall have full power to decide the order in which shareholders can address the meeting, to fix a time limit for speeches, to apply the closure when in his opinion any matter has been sufficiently discussed and to adjourn the meeting.

22. Voting at General Meetings.—(i) A declaration by the Chairman of a general meeting that a resolution has been carried or rejected thereat upon a show of hands by those shareholders who are entitled to vote shall be conclu- sive and an entry to that effect in the book of proceedings of the Corporation shall be sufficient evidence of that fact, without proof of the number or proportion of the votes recorded in. favour of or against such resolution, unless immediately on such declaration a poll be demanded in writing by fiva persons present and entitled to vote at such meeting.

(ii) If a poll be demanded, it shall be taken either at once or at such time and piace and either by open voting or by ballot as the Chairman may direct and the result of the poll shall be deemed to be the resolution of the meeting •at-which the poll was demanded. At such poll a vote shall be given by a shareholder entitled to vote either personally or by proxy or by duly authorised lepvesentative and the shareho'de'rs shall exercise the voting rights referred to in clause (i) of Regulation 24.

Ciii) The deo:sion of the Chairman of the meeting as to the qualification of any'person to vote, end d

23. Minutes of General Meetings.—(i) The Corporation shall cause minutes of all proceedings of general meetings to be entered in books kept for that purpose.

(ii) \nv such minute, if purporting to be signed by the Chairman of the meeting at which the proceedings were had, or by the Chairman of the next succeeding meeting, shall be evidence of the proceedings.-

(ii) Except with the consent of the Chairman, no business ahull be trans- mitted or discussed at any special general meeting except the business for which the meeting has been specifically convened.

20. Quorum at General Meetings.^-No business shall be transacted at nry meeting of the shareholders, whether the annual general meeting or other general meeting, unless a quorum of 10 shareholders entitled to vote at such meeting in person or by proxy or by duly authorised representative is present at tlie commencement of such business, and if within fifteen minuteH fr.jm the time appointed for the meeting a quorum is not present, the meeting, if it is not an annual general meeting, may be dissolved by the Chairman; in any other case or if the meeting is not so dissolved it shall stand adjourned to the same day in the following week at the same time and place, and if at such adjourned meeting a quorum is not present, the shareholders who are p>-e--i--nl shall form ti quorum provided that no annual general meeting may be adjourned to a later date than two months after the Both June n.n-l if iidjournment would have this effect, the annual general meeting shall nut be ad- jouruud but the business of the meeting wbull be commenced one hour from the time appointed for the meeting and those shareholders who are present in person or by proxy or by duly authorised representative shall furm ii quorum.

21, Chairman at General Meetings.—(i) The Chairman of the Board or in his absence a Director (otlier than the Managing Director) authorised l\\ the Chairman in writing in this behalf shall be the Chairman at all general meet- ings and in default of such authorisation, the meeting may elect any other Director to be the Chairman of the meeting.

(ii) The Chairman shall regulate the procedure at all general meetings and in particular shall have full power to decide the order in which shareholders can address the meeting, to fix a time limit for speeches, to apply the closure when in his opinion any matter has been sufficiently discussed and to adjourn the meeting.

3:2. Voting at Q-eneral Meetings .^(i) A declaration by the Chairman of a general meeting that a resolution has been carried or rejected thereat upon a sh>\v of bands by those shareholders who are entitled to vote shall be conclu- sive and an entry to that effect in the book of proceedings of the Corporation shall be sufficient evidence of that fact, without proof of the number or proportion of the votes recorded in favour of or against such resolution, unless immediately on such declaration v poll be demanded in writing by five persons present and entitled to vote at such meeting.

(ii) If a poll be demanded, it shall be taken either at once or at such time and place and either by open voting or by ballot as the Chairman may direct •and ihe result of the poll shall be deemed to be the resolution of the meeting at wbii-.h the pull was demanded. At such poll a vote shall he given by u qbaivhfilder eniiUed to vote either personally or by proxy or by dub, authorised ,ppv ••r-'tiitive o-id the sb;'ri_ho'ders shall e-:ercise the voting rights referred to in UUIIM.¹ (i) "I Repnlat:on 1M.

,'iiil The iWsIini Ml' the Chiiiiimvn <-<\ t'ie nu'etipg ;-u to MIH qualification u[ any person to v.'ilt\ ;M)d ','!-" n the ra^r cf a pull, as to HIP number of votes any person is competent to e'.-etvise. shall be fiiml.

23. Minutes of General Meetings.—(i) The Corporation shnll rau^v miruiks of all proceeding "f

purpose

(ii) Any such minute, ii' purporting +.o hr signed by ihe Chrurmnn of tbe men,:-."" ai, whk'h tbe Ti-ou^'-dlni's v:erc had, of by ihe Chainrnui of tbe next succeeding meeting, shall be evidence of the proceedings.

(iii) Until the contrary is proved, every general meeting :in respect of the •proceedings whereof minutes have been so made shall be deemed to have been .duly called and held, and all proceedings had thereat to have been duly had.

CHAPTEK IV

Voting

24. Shareholders entitled to vote and their voting rights.—(i) Each share- holder who has been registered as a shareholder for a period of not less than six months prior to the date of a General Meeting shall at such Meeting, have one vote for each share held by him for the- whole of such, period.

(ii) Every shareholder entitled to vote as aforesaid who (being an individual) is present in person or by proxy ov (being the Central Government or a com- pany) is present by proxjor by a duly authorised representative shall have one vote on a show of hands and in case of a poll shall have one vote for each share held by him for the whole period of six months piior to the date of such meeting.

25. Voting by Government (}) The Central Government r say, by an order in writing, authorife any of its officers to act as its representative at any meeting of the Corporation and the officer so authorised shall be entitled to exercise the • same powers on behalf oi the Central Government as if he were tn individual shareholder of the Corporation. The officer so authorised shall not be deemed to bf a proxy.

(ii) A copy ot any order made under clause (i) hereof shall be deposited at the Head Office of the Corporation before the time fixed for the meeting.

(iii) An order made under clause (i) hereof may subsequently be revoked by the Central Government by depositing a notice of revocation at the Head Office of the Corporation before the time fixed for the meeting, and the due revocation v of an order shall in no way prohibit the issue of another order by the Central Government and the deposit of a copy thereof at the Head Office of the Corpora- tion within the time limited by clause (ii) hereof.

26. Voting by duly authorised representative precludes voting by proxy.— No shareholder, being a corporation, shall vote by proxy so long as a reso- lution of its directors under ths next succeeding regulation authorising any Of its officials or any other person to act as its duly authorised representative at any general meeting, shall be in force.

27. Voting by duly authorised representative—(i) A company may, by ie- solution of its Directors authorise any of its officials or any other person to act as its representative at any meeting of the Corporation and the person so autho- rised shall be entitled to exercise the same powers, on behalf of the company which he represents, as if he were an individual shareholder of the Corporation. The authorisation go giver, may be in favour of two representatives in the alter- native. A person acting in terms of an authorisation given under this clause shall not be deemed to b,j a proxy. For the purposes of this legulation a com- pany shall mean a public limited company and shall include the Reserve Bank, a scheduled bank and -a co-operative bank. A representative appointed under this regulation is in these regulations referred to as a "duly authorised representative."

(ii) No person may attend or vote at any meeting of the Corporation as a duly authorised representative unless a copy of the resolution appointing him as a dulv" authorised retresentative certified to be a true copy by the Chairman of

the meeting fit -whii-h it was passed shall huve beon deposited ot the Head Office of the Corporation not leh-s thnn 4 clear days before tho dtUe fixed for the meet- ing. An appointment of n duly authorised representative shall, after the deposit of a certified copy (if the resolution iw aforesaid, be irrevocable for the meeting for which it is made and ahull revoke any pro\y previously deposited for such same shareholder.

(iii) No person inuy be appointed a duly authorised representative or a proxy who is an officer or an employee of the Corporation.

'28. Proxies.—(i) No instrument of proxy shall be valid unless in Ihe case of a Corporation or a Co-operative Hank it is executed under its common real or signed by its attorney duly authorised in writing.

(ii) No proxy shall be valid unless it is made out specifically for the purpo"e of voting at the meeting ut which it is to be used.

(iii) No proxy, shall be valid unless it is duly stamped and unless it, together with the power of attorney or other authority (if any) under wliioh it is .signed, or a notarially certified copy of that power or authority is deposited at the head-office of the Corporation not ICBBI than 4 clear days before ihe date fixed for the meeting.

(iv) No instrument of proxy shall be valid unlflsu it is in the following form and dated

* Industrial Finance Corporation of India,

We of being a shareholder of the

(or failing ,. ..of ) as our proxy to vote for us and on Industrial Finance Corporation of Ijidia holding shares Moa hereby appoint of him our behalf at a meeting of the shareholders of the Corporation to be held M ,... day of and at • on the

any adjournment thereof.

Dated this day of

r J (v) An instrument of proxy deposited in terms of this regulation shall be irrevocable after the last day for the deposit of proxies unless on or before such day there shall have beeu deposited at the. head office of the Corporation a notioe in writing under the hand or common seal of the erantor specificallv stating:—

(a) the name of the person in whose favour the instrument was granted • ' and

(b) that such instrument is revoked, or unless the same shall be invalid under clause (vi) hereof. In the case of an Instrument ot proxy granted in favour of two grantees in the alternative, it shall not be necessury to mention in a notioe of revocation ' the name of the second or alternative grantee provided that the notioe is otherwise sufficient to identify beyond doubt the instrument- of proxy which it is intended to revoke.

(vi) If two or more instruments of proxy in respect of the same shares shall be deposited and if on or before the last day for deposit of proxies all but one of such instruments of proxy shall not have been duly revoked in accordance with the procedure prescribed in clause (v) hereof all such instruments of proxy J'r"J¹J shall be deemed invalid.