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Proc-Type: 2001,MIC-CLEAR
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<SEC-DOCUMENT>0000950134-08-013558.txt : 20080730
<SEC-HEADER>0000950134-08-013558.hdr.sgml : 20080730
<ACCEPTANCE-DATETIME>20080729175131
ACCESSION NUMBER:		0000950134-08-013558
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		15
CONFORMED PERIOD OF REPORT:	20080725
FILED AS OF DATE:		20080730
DATE AS OF CHANGE:		20080729

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			WIPRO LTD
		CENTRAL INDEX KEY:			0001123799
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-COMPUTER PROGRAMMING SERVICES [7371]
		IRS NUMBER:				000000000
		FISCAL YEAR END:			0331

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-16139
		FILM NUMBER:		08976905

	BUSINESS ADDRESS:	
		STREET 1:		SURVEY #76P & #80P DODDAKANAHALLI VILLAG
		STREET 2:		VARTHUR HOBLI SARJAPUR RD BANGALORE
		CITY:			KARNATAKA
		STATE:			K7
		ZIP:			560035
		BUSINESS PHONE:		91-80-2844-0011

	MAIL ADDRESS:	
		STREET 1:		SURVEY #76P & #80P DODDAKANAHALLI VILLAG
		STREET 2:		VARTHUR HOBLI SARJAPUR RD BANGALORE
		CITY:			KARNATAKA
		STATE:			K7
		ZIP:			560035
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>f42472e6vk.htm
<DESCRIPTION>FORM 6-K
<TEXT>
<HTML>
<HEAD>
<TITLE>e6vk</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
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<DIV style="font-family: Helvetica,Arial,sans-serif">


<DIV style="width: 100%; border-bottom: 2pt solid black; font-size: 1pt">&nbsp;</DIV>
<DIV style="width: 100%; border-bottom: 1pt solid black; font-size: 1pt">&nbsp;</DIV>






<DIV align="center" style="font-size: 14pt; margin-top: 12pt"><B>UNITED STATES<BR>
SECURITIES AND EXCHANGE COMMISSION</B>
</DIV>

<DIV align="center" style="font-size: 12pt"><B>Washington, D.C. 20549</B>
</DIV>

<DIV align="center" style="font-size: 12pt"><B><DIV align="center"><DIV style="font-size: 3pt; margin-top: 16pt; width: 26%; border-top: 1px solid #000000">&nbsp;</DIV></DIV></B>
</DIV>

<DIV align="center" style="font-size: 18pt; margin-top: 12pt"><B>FORM 6-K</B>
</DIV>


<DIV align="center" style="font-size: 12pt; margin-top: 12pt"><B>REPORT OF FOREIGN ISSUER<BR>
Pursuant to Section&nbsp;13a-16 or 15d-16 of the Securities Exchange Act of 1934</B>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><B>For the month of July, 2008</B></DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><B>Commission File Number 001-16139</B></DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><DIV align="center"><DIV style="font-size: 3pt; margin-top: 16pt; width: 26%; border-top: 1px solid #000000">&nbsp;</DIV></DIV></DIV>

<DIV align="center" style="font-size: 24pt; margin-top: 12pt"><B>WIPRO LIMITED</B>
</DIV>

<DIV align="center" style="font-size: 10pt"><B>(</B><B><I>Exact name of Registrant as specified in its charter</I></B><B>)</B></DIV>


<DIV align="center" style="font-size: 10pt"><DIV align="center"><DIV style="font-size: 3pt; margin-top: 16pt; width: 26%; border-top: 1px solid #000000">&nbsp;</DIV></DIV></DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><B>Not Applicable<BR>
(</B><B><I>Translation of Registrant&#146;s name into English</I></B><B>)</B></DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><B>Bangalore, Karnataka, India<BR>
(</B><B><I>Jurisdiction of incorporation or organization</I></B><B>)</B></DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><B>Doddakannelli<BR>
Sarjapur Road<BR>
Bangalore, Karnataka 560035, India<BR>
&#043;91-80-2844-0011<BR>
(</B><B><I>Address of principal executive offices</I></B><B>)</B></DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><DIV align="center"><DIV style="font-size: 3pt; margin-top: 16pt; width: 26%; border-top: 1px solid #000000">&nbsp;</DIV></DIV></DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Indicate by check mark if registrant files or will file annual reports under cover Form 20-F or
Form 40-F.
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt">Form&nbsp;20-F <FONT face="Wingdings">&#254;</FONT> Form&nbsp;40-F <FONT face="Wingdings">&#111;</FONT></DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Indicate by check mark whether the registrant by furnishing the information contained in this Form
is also thereby furnishing the information to the Commission pursuant to Rule&nbsp;12g- 3-2(b) under the
Securities Exchange Act of 1934.
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt">Yes <FONT face="Wingdings">&#111;</FONT> No <FONT face="Wingdings">&#254;</FONT></DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">If &#147;Yes&#148; is marked, indicate below the file number assigned to registrant in connection with Rule
12g 3-2(b)
</DIV>
<DIV align="center" style="font-size: 10pt; margin-top: 12pt">Not applicable.</DIV>


<DIV style="width: 100%; border-bottom: 1pt solid black; margin-top: 10pt; font-size: 1pt">&nbsp;</DIV>
<DIV style="width: 100%; border-bottom: 2pt solid black; font-size: 1pt">&nbsp;</DIV>





<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

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<DIV style="font-family: Helvetica,Arial,sans-serif">








<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>TABLE OF CONTENTS</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">AMENDMENT TO THE MEMORANDUM AND ARTICLES OF ASSOCIATION
SIGNATURES
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

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<DIV style="font-family: Helvetica,Arial,sans-serif">




<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Item&nbsp;19</B>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>AMENDMENT TO THE MEMORANDUM AND ARTICLES OF ASSOCIATION</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Wipro Limited (the &#147;Company&#148;) amended its Memorandum and Articles of Association to increase the
number of directors on the board of the Company and add two additional main objects clauses to the
Memorandum of Association. The amended Memorandum and Articles of Association are enclosed as
<U>Exhibit&nbsp;A</U>.
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

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<DIV style="font-family: Helvetica,Arial,sans-serif">




<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>SIGNATURES</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly
caused this report to be signed on its behalf by the undersigned, thereunto duly organized.
</DIV>

<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top" align="left">&nbsp;</TD>
    <TD colspan="3" align="left">WIPRO LIMITED<BR>
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD colspan="3" style="border-bottom: 1px solid #000000" align="left">/S/ AZIM H. PREMJI
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD colspan="3" align="left">Azim H. Premji&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD colspan="3" align="left"><I>Chairman and Managing Director</I>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top" align="left">&nbsp;</TD>
    <TD colspan="3" align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD colspan="3" style="border-bottom: 1px solid #000000" align="left">/S/ SURESH C. SENAPATY
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD colspan="3" align="left">Suresh C. Senapaty&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD colspan="3" align="left"><I>Chief Financial Officer and Director</I>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
</TABLE>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt">Dated: July&nbsp;25, 2008
</DIV>



<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>



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<DIV style="font-family: Helvetica,Arial,sans-serif">


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>ARTICLES
OF ASSOCIATION<BR><BR STYLE="FONT-SIZE: 6PT">
OF</B>
</DIV>


<DIV align="Center" style="font-size: 14pt; margin-top: 6pt"><B>WIPRO LIMITED</B>

</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 6pt"><B>I. CONSTITUTION OF THE COMPANY</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Table A not to apply</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">1.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Wipro Limited is established with Limited Liability in accordance
with and subject to the provisions of the Indian Companies Act,
1913, but none of the Regulations contained in the Table marked A in
Schedule&nbsp;I to the Companies Act, 1956, shall be applicable to the
Company except so far as the said Act or any modification there
otherwise expressly provides.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Company to be governed by these Articles</I></B>
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 5%">The Regulations for management of the Company and for the
observance of the members thereof and their representatives shall
subject as provided in Article&nbsp;I and to any exercise of the
statutory powers of the Company in reference to the repeal or
alteration of, or addition to, its regulations in the manner
prescribed by Section&nbsp;31 of the Companies Act, 1956, be such as
are continued in these Articles.
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>II. INTERPRETATION</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Interpretation clause</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">2.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>In the interpretation of these Articles, the following words and
expressions shall have the following meanings, unless repugnant to
the subject or context.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>&#147;Alter&#148;</I></B>
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 5%">&#145;Alter&#146; and &#145;Alteration&#146; shall include the making of additions and
omissions.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>&#147;Auditors&#148;</I></B>
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 5%">&#145;Auditors&#146; means those Auditors appointed under the Articles and
shall include other officers appointed by the Company for the time
being.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>&#147;A Company&#148;</I></B>
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 5%">&#145;A Company&#146; shall include a company as defined in Section&nbsp;3 of the
Act.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>&#147;Board&#148;</I></B>
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 5%">&#145;Board&#146; means a meeting of the Directors duly called and
constituted or as the case may be, the Directors assembled at a
Board Meeting or acting by circular under the Article or the
Directors of the Company collectively.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>&#147;Body Corporate or Corporation&#148;</I></B>
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 5%">&#145;Body Corporate&#146; or &#145;Corporation&#146; includes a company incorporated
outside India but does not include (1)&nbsp;a Corporation-sole, (2)&nbsp;a
Co-operative Society registered under any law relating to
Co-operative Societies, (3)&nbsp;any other body corporate which the
Central Government may by notification in the Official Gazette
specify in that behalf.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>&#147;The Company&#148; or &#147;This Company&#148;</I></B>
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 5%">&#145;The
Company&#146; or &#145;This Company&#146; means <B>Wipro Limited</b>
established as aforesaid.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>&#147;The Companies Act 1996&#148; &#147;The said Act&#148; or &#147;The Act&#148;</I></B>
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 5%">&#145;The Companies Act, 1956&#146;, &#145;The
said Act&#146;, or &#145;The act&#146; and
reference to any section or provision thereof respectively means
and includes the Companies Act, 1956 (Act I of 1956) and any
statutory modification thereof for the time being in force, and
reference to the section or provision of the said Act or such
statutory modification.
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

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<DIV style="font-family: Helvetica,Arial,sans-serif">

<DIV align="Center" style="font-size: 10pt; margin-top: 6pt">11

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>&#147;Debenture&#148;</I></B>
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 5%">&#145;Debenture&#146; includes Debenture stock, bonds and other securities of a Company whether constituting
a charge on the assets of the company or not.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>&#147;Directors&#148;</I></B>
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 5%">&#145;Directors&#146; includes any person occupying the position of Director by whatever name called.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>&#147;Dividend&#148;</I></B>
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 5%">&#145;Dividend&#146; shall include bonus.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>&#147;Document&#148;</I></B>
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 5%">&#145;Document&#146; includes summons, notice, requisition, order, other legal process and registers, whether
issued, sent or kept in pursuance of this or any other Act or otherwise.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>&#147;Executor&#148; or &#147;Administrator&#148;</I></B>
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 5%">&#147;Executor&#148; or &#147;Administrator&#148; means a person who has obtained probate or Letters of Administration,
as the case may be, from some competent Court having effect in the State of Maharashtra and shall
include the holder of a Succession Certificate authorising the holder thereof to negotiate or
transfer the share or shares of the deceased members, and shall also include the holder of a
Certificate granted by the Administrator-General of Maharashtra.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>&#147;In writing&#148;</I></B>
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 5%">&#147;In writing&#148; or &#147;Written&#148; means written or printed or partly written and partly or lithographed or
typewritten or reproduced by any other substitute for Writing.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>&#147;Month&#148;</I></B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 5%">&#147;Month&#148; means calendar month.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>&#147;Office&#148;</I></B>
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 5%">&#147;Office&#148;
means the Registered Office for the time being of the-Company.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>&#147;Ordinary
&#038; Special Resolution&#148;</I></B>
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 5%">&#147;Ordinary Resolution&#148; and &#147;Special Resolution&#148; shall have the meanings assigned to these terms by
Section&nbsp;189 of the Act.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>&#147;Paid-up&#148;</I></B>
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 5%">&#147;Paid-up&#148; includes credited as paid up.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>&#147;Public Holiday&#148;</I></B>
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 5%">&#147;Public Holiday&#148; means a public holiday within the meaning of the Negotiable Instruments Act, 1881
(XXVI of 1881) provided that no day declared by the Central Government to be a public holiday shall
be deemed to be such a holiday in relation to any meeting unless the declaration was notified
before the issue of the notice convening such meeting.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>&#147;Register of Members&#148; or &#147;Register&#148;</I></B>
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 5%">&#147;Register of Members&#148; or &#147;Register&#148;
means the Register of Members to be kept pursuant to Section
150 of the said Act.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>&#147;Secretary&#148;</I></B>
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 5%">&#147;Secretary&#148; includes a deputy or assistant or temporary Secretary and any person or persons
appointed by the Directors to perform any of the duties of a Secretary.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>&#147;Shareholders&#148; or &#147;Members&#148;</I></B>
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 5%">&#147;Shareholders&#148; or &#147;Members&#148; means the duly registered holder from time to time of the shares of the
Company, but does not include a bearer of share-warrant of the Company.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>&#147;The Seal&#148;</I></B>
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 5%">&#147;The Seal&#148; means the common seal of the Company for the time being.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>&#147;These
presents&#148;</I></B>
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 5%">&#147;The presents&#148; means and includes the Memorandum and these Articles of Association, and the
regulations the Company from time to time in force.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>&#147;Variation&#148;</I></B>
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 5%">&#147;Variation&#148; shall include abrogation and &#147;Vary&#148; shall include abrogate.
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

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<DIV style="font-family: Helvetica,Arial,sans-serif">

<DIV align="Center" style="font-size: 10pt; margin-top: 6pt">12

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Singular Number</I></B>
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 5%">Words
importing the singular number include, where the context admits or requires, the plural
number and vice versa.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Gender</I></B>
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 5%">Words importing the masculine gender also include the feminine gender.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Persons</I></B>
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 5%">Words importing persons shall, where the context requires, include bodies corporate and companies
as well as individuals.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Words and expressions defined in the Companies Act, 1956</I></B>
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 5%">Subject as aforesaid, any words and expressions defined in the said Act as modified up to the date
on which these Articles become binding on the Company shall, except where the subject or context
otherwise requires, bear the same meanings in these Articles.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Marginal Notes and other Headings</I></B>
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 5%">The Marginal notes and the headings given in these Articles shall not affect the construction
hereof.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Copies of the Memorandum and Articles to be Furnished</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">3.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Company shall, on being so required by a member, send to
him within seven days of the requirement and subject to the
payment of a fee of one rupee a copy each of the following
documents as in force for the time being.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(a)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Memorandum</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(b)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>the Articles, if any,</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(c)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>every other agreement and every resolution referred to in Section
192, if and in so far as they have not been embodied in the
Memorandum or Articles. </TD>
</TR>

</TABLE>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>III. CAPITAL</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Capital and shares
</b></div>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>(Amended vide resolution passed by members at the Annual General Meeting held on
July&nbsp;21, 2005)</B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">4.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Authorized Share Capital of the Company is Rs.3550,000,000 (Rupees
Three Thousand five hundred and fifty million) divided into 1650,000,000
(One thousand six Hundred and fifty million) equity shares of Rs.2/-
(Rupees two ach) and 25,000,000 (Twenty five million) preference shares of
Rs.10/- (Rupees Ten) each subject to being increased as hereinafter
provided and in accordance with the Regulations of the Company and the
legislative provisions for the time being in force. Subject to the
provisions of the said Act, the shares in the capital of the company for
the time being whether original or increased or reduced may
be divided into classes, with any preferential qualified or other rights,
privileges, conditions or restrictions attached thereto, whether in
regard to dividend, voting, return of capital or otherwise.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>If and whenever the capital of the Company is divided into shares
of different classes, the rights of any such class may be varied,
modified, affected, extended, abrogated or surrendered as provided by
the said Act or by Articles of Association or by the terms of issue,
but not further or otherwise.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Provisions
of Section 85 to 90 of the Act to apply</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">5.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The provisions of Section&nbsp;85 to 90 of the Act in so far as the same may be applicable to issue
of share capital shall be observed by the Company.</TD>
</TR>

</TABLE>
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>



<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: Helvetica,Arial,sans-serif">



<P align="center" style="font-size: 10pt"><!-- Folio -->13<!-- /Folio -->

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><I><B>Restrictions
on allotment</B></i>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">6.</TD>
    <TD width="4%" nowrap align="left">(a)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Directors shall have regard to the restrictions on the
allotment of shares imposed by Section&nbsp;60, 70 and 73 of the said
Act so far as those restrictions are binding on the Company.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><I><B>Commencement
of business</B></i>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(b)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Directors shall as regard to the restrictions on the commencement of business
and the exercise of borrowing powers imposed by Section&nbsp;149 of the said Act, so far as those
restrictions are binding on the Company, and subject as aforesaid, the business of the Company may
be commenced as soon after the incorporation of the Company as the Directors may think fit and
notwithstanding that part only of the shares may have been subscribed for or allotted.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Commission
for placing shares</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">7.</TD>
    <TD width="5%" nowrap align="left">(1)</TD>
    <TD width="4%">(i)</TD>
    <TD>The Company may at any time pay a commission to any  person in consideration of
his subscribing, or agreeing to subscribe (whether absolutely or conditionally) for any shares in
or debentures of the Company or procuring or agreeing to procure subscription (whether absolute or
conditional) for any shares in or debentures of the Company and the
provisions of Section&nbsp;76 of
the said Act shall be observed and complied with. Such commission shall not exceed 5 per cent of
the price at which the shares are issued or 21/2 per cent of the price at which such debentures are
issued, or an amount equivalent to such percentage. Such commission may be paid in cash or by the
allotment of shares.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left"></TD>
    <TD width="1%">(ii)</TD>
    <TD>The amount or rate percent, of the commission paid
or agreed to be paid is;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>in the case of Shares or Debentures offered to
the public for subscription disclosed in the
Prospectus, and</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>in the case of Shares or Debentures not offered to the public
for subscription disclosed in the statement in lieu of Prospectus and
filed before the payment of the commission with the Registrar and when
a circular or notice, not being a prospectus inviting subscription for
the shares or debentures is issued also disclosed in that circular or
notice, and;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left"></TD>
    <TD width="1%">(iii)</TD>
    <TD>the number of shares or debentures which persons
have agreed to for commission to subscribe absolutely or
conditionally is disclosed in the manner aforesaid.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(2)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Save as aforesaid and save as provided in Section&nbsp;79 of the
Act, the Company shall not allot any of its shares or debentures
or apply any of its capital moneys, either directly or
indirectly, in payment of any commission, discount or allowance,
to any person in consideration of :</TD>
</TR>
</TABLE>
</DIV>

<DIV style="margin-top: 0pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="10%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(a)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>his subscribing or agreeing to subscribe, whether
absolutely or conditionally, for any Shares in or
Debentures of the Company, or</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(b)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>his procuring or agreeing to procure subscription
whether absolutely or conditionally for any Shares in or
Debentures of the Company.</TD>
</TR>

</TABLE>
</DIV>
<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: Helvetica,Arial,sans-serif">

<P align="center" style="font-size: 10pt"><!-- Folio -->14<!-- /Folio -->

<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">



</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Whether the Shares, Debentures or money be so allotted or applied by
being added to the purchase money of any property acquired by the
Company or to the contract price of any work, to be executed for the
Company or the money be paid out of the nominal purchase money of
contract price, or otherwise.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(3)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Nothing in this clause shall effect the power of the Company to pay
such brokerage as it may consider reasonable.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(4)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>A Vendor to, promoter of, other person who receives payment in shares, debentures or money from the Company shall have and shall be
deemed always to have had power to apply any part of the shares,
debentures or money so received in payment of any commission the payment
of which, if made directly by the Company, would have been legal under
this Articles.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(5)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The commission may be paid or satisfied (subject to the provisions
of the Act and these Articles) in cash or in share, debentures or
debenture stock of the Company.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Company
not </I></B><B>to </B><B><I>give financial assistance for purchase of its own
shares</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">8.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Except as provided by the Act, the Company shall not, except by
reduction of capital under the provision of Sections&nbsp;100 to 104 or
Section&nbsp;402 of the said Act, buy its own shares nor give, whether
directly or indirectly, and whether by means of a loan, guarantee,
provision of security or otherwise any financial assistance for the
purpose of or in connection with a purchase or subscription made or to
be made by any person of or for any shares in the Company or in its
holding company.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Provided that nothing in this Article shall be taken to prohibit :</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" nowrap align="left">8.1(a)</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>the provision, in accordance with any scheme for the time being in
force of money for the purpose of, or subscription for, fully paid shares in
the Company or its holding Company being a purchase or subscription by
trustees of or for shares to be held by or for the benefit of employees of
the Company including any Director holding a salaried office or employment in
the Company; or</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">8.1(b)</TD>
    <TD width="5%"></TD>
    <TD>the making by the Company of loans within the limit laid down in
sub-section (3)&nbsp;Section&nbsp;77 of the Act to persons (other than Directors,
    Managing Agents, or Managers) bonafide in the employment of the Company, with a
view to enabling those persons to purchase or subscribe for fully paid shares in
the Company or its holding company to be held by themselves by way of beneficial
ownership.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>No loan made to any person in pursuance of clause (b)&nbsp;of the
foregoing proviso shall exceed the amount of his salary or wages at
that time for a period of six months.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Nothing in this clause shall affect the right of a company to
redeem any shares issued under Section&nbsp;80.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Buy back of Shares</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">8.2</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Notwithstanding what is stated in Articles 8.1 above, in the event it is
permitted by the Law and subject to such conditions, approvals or consents as
may be laid down for the purpose, the Company shall have the power to
buy-back its own shares, whether or not there is any consequent reduction of
Capital. If and to the extent permitted by Law, the Company shall also have
the power to re-issue the shares so bought back.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Payment of interest out of capital</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">9.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Where any shares are issued for the purpose of raising money to
defray the expenses of the construction of any work or building or the
provision of any plant, which cannot be made profitable for a length
period, the Company may pay interest on so much of that share capital
as is for time being paid up, for the period, at the rate, and subject
to the conditions and restrictions provided by Section&nbsp;208 of the Act
and may charge the same to capital as part of the cost of construction
of the work or building or the provision of the plant. The Articles
relating to</TD>
</TR>

</TABLE>
</DIV>
<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: Helvetica,Arial,sans-serif">

<P align="center" style="font-size: 10pt"><!-- Folio -->15<!-- /Folio -->

<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">



</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>dividends shall, where the context permits, apply to interest paid under
this Article.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Issue of shares at a premium</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" nowrap align="left">10.</TD>
    <TD width="5%">(a)</TD>
    <TD>The Company shall have power to issue shares at a premium and
shall duly comply with the provision of Sections&nbsp;78 of the said Act
and Article&nbsp;80 hereof.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(b)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Company shall have power in accordance with the
provisions of Section&nbsp;79 of the Act under the authority of a
resolution of the Company sanctioned by the Court to issue shares
at a discount.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Issue of redeemable preference shares</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">11.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Company may, subject to the provisions of Section&nbsp;80 of the said
Act, issue preference shares which are, or at the option of the Company
are to be liable, to be redeemed and may redeem such shares in any
manner provided in the said section and may issue shares up to the
nominal amount of the shares redeemed or to be redeemed as provided in
sub-section 4 of the said section. Where the Company has issued
redeemable preference shares the provisions of the said section shall be
complied with. The manner in which such shares shall be redeemed, shall
be as provided by Article&nbsp;88 unless the terms of issue otherwise
provide.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>IV. SHARES AND SHAREHOLDERS</b>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B><I>Register of Members</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">12.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Company shall cause to be kept a Register of Members in
accordance with Section&nbsp;150 and index of members in accordance with
Section&nbsp;151 of the said Act, Register and Index of Debenture-holders
in accordance with Section&nbsp;152 of the Act. The Company shall have
power to keep branch registers of members or debentures holders in any
State or country outside India in accordance with Section&nbsp;157 of the
Act.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Company shall also comply with the provisions of Sections&nbsp;159
and 161 of the Act as to filing Annual Returns.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Company shall duly comply with the provisions of Section&nbsp;163
of the Act in regard to keeping of the Registers, Indexes,
copies of Annual Returns and giving inspection thereof and
furnishing copies thereof.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Shares to be numbered progressively</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">13.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The shares in the capital shall be numbered progressively
according to their several classes.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Shares at the disposal of the Directors</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">14.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Subject to the provisions of the said Act and these Articles, the
 shares in the capital of the Company for the time being (including any
 shares forming part of any increased capital of the Company) shall be
under the Control of the Directors who may issue, allot or otherwise
dispose of the same or any one of them to such persons on such
proportion and on such terms and conditions and either at a premium or
at par or (subject  to compliance with the provisions of Section&nbsp;79 of
the Act) at a discount and at such times as they may from time to time
think fit and proper and with the sanction of the Company in General
Meeting to give to any person the option to call for or be
allotted shares of any class of the Company either at par or at
premium or subject aforesaid at a discount during such time and for
such consideration and such option being exercisable at such times as
the Directors think fit and may allot and issue shares in the capital
of the Company in lieu of services rendered to the Company or in the
conduct of its business; and any shares which may</TD>
</TR>

</TABLE>
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio --><!-- /Folio -->
</DIV>



<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: Helvetica,Arial,sans-serif">

<DIV align="center" style="font-size: 10pt; margin-top: 18pt">16
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>be so allotted may be issued as fully paid up shares and if so
issued shall be deemed to be fully paid up shares.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Every
share transferable etc.</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">15.</TD>
    <TD width="4%" nowrap align="left">(a)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The shares or other interest of any member in the Company shall
be movable property transferable in the manner provided by the Articles
of the Company.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(b)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Each share in the Company having a share capital shall be
distinguished by its appropriate number.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(c)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Certificates of Shares :</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>A certificate under the Common Seal of the Company specifying
any shares held by any member shall be prima facie evidence
of the title of the member to such shares.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><I><B>Application
</B><B>of </B><B>premiums received on issue </B><B>of </B><B>shares</B> </I>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">16.</TD>
    <TD width="4%" nowrap align="left">(1)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Where the Company issues shares at a premium, whether for cash or otherwise, a sum equal to
the aggregate amount of the value of the premiums on those Shares shall be transferred to an amount
to be called &#147;the share premium account&#148;, and the provisions of the Act relating to the reduction
of the Share Capital of a company shall except as provided in this
clause, apply as if the share
premium account were paid-up share capital of the Company.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(2)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The share premium account may, notwithstanding anything in
sub-clause (1)&nbsp;be applied by the Company :</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="10%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(a)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>paying up unissued shares of the Company to be issued to
members of the Company as fully paid bonus shares;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="10%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(b)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>in writing off the expenses of, or the commission paid or
discount allowed on any issue of shares or debentures of the
Company; or</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="10%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(c)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>in providing for the premium payable on the redemption of
any redeemable preference shares or of any debentures of the
Company.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Further issue of capital</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">17.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Company shall comply with the provisions of Section&nbsp;81 of the
Act with regard to increasing the subscribed capital of the Company.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Sale
of fractional shares</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">18.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>If and whenever as the result of issue of new shares or any
consolidation or subdivision of shares, any shares become held by members
in fractions the Directors shall subject to the provisions of the Act and
the Articles and to the directions of the Company in general meeting, if
any, sell those shares which members hold in fractions for the best price
reasonably obtainable and shall pay and distribute to and amongst the
members entitled to such shares in due proportion, the net
proceeds of the sale thereof. For the purpose of giving effect to any
such sale the Directors may authorise any person to transfer the shares
sold to the purchaser thereof comprised in any such transfer and he shall
not be bound to see to the application of the purchase money nor shall
his title to the shares be effected by any irregularity or invalidity in
the proceedings in reference to the sale.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Acceptance of shares</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">19.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>An application signed by or on behalf of an application for shares in
the Company followed by an allotment of shares therein, shall be an
acceptance of shares within the meaning of these Articles; and every
person who thus or otherwise accepts any shares or agrees to become a
member of the Company and whose name is entered in its Register of
Members shall, for the purpose of the Articles, be a member of the</TD>
</TR>

</TABLE>
</DIV></DIV>
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: Helvetica,Arial,sans-serif">
<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->

<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">



</TABLE>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt">17
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Company. The Directors shall comply with the provisions of
Sections&nbsp;69, 70, 71 and 73 of the Act so far as applicable.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Deposit and call etc. to be a debt payable immediately</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">20.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The money (if any) which the Directors shall, on the allotment of
any shares being made by them, require or direct to be paid by way of
deposits, calls or otherwise in respect of any shares allotted by
them, shall, immediately on the inscription of the name of the
allottee in the Register of Members as the holder of such shares,
become a debt due to and recoverable by the Company from the allottee
thereof, and shall be paid by him accordingly.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Calls on shares of the same class to be made on uniform basis</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">21.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Where any calls for further share capital are made on shares,
such calls shall be made on a uniform basis on all shares,
falling under the same class.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Explanation</B> : For the purpose of this provision shares of the same
nominal value on which different amounts have been paid up shall
not be deemed to fall under the same class.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Return of allotment </I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">22.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Directors shall cause to be made the returns as to all
allotments from time to time made in accordance with the provisions of
Section&nbsp;75 of the said Act.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Payment of calls</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">23.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Subject to the provisions of Section&nbsp;91 and 92 of the said Act the
Company may make arrangements on the issue of shares for a difference
between the holder of such shares in the amount of calls to be paid
and the time of payment of such calls.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Instalments on shares to be duly paid</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">24.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>If, by the conditions of allotment of any shares the whole or part
of the amount or issue price thereof shall be payable by instalments,
every such instalment shall, when, due, be paid to the Company by the
person who for the time being and from time to time shall be the
registered holder of the shares or his legal representative.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Liability of members</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">25.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Every member, or his executors or administrators or other
representative, shall pay to the Company the portion of the capital
represented by his share or shares, which may, for the time being,
remain unpaid thereon, in such amounts, at such time or times, and in
such manner, as the Directors shall, from time to time, in accordance
with the Company&#146;s regulations, require or fix for the payment thereof.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Liability
of Jointholders</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">26.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>If any share stands in the names of two or more persons all the
joint-holders of the share shall be severally as well as jointly liable
for the payment of all deposits, instalments, and calls due in respect
of such shares, and for all incidents thereof according to the
Company&#146;s regulations; but the persons first named in the Register
shall, as regards service of notice, and all other matters connected
with the Company, except the transfer of the share and
any other matter by the said Act or herein otherwise provided, be
deemed the sole holder thereof.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt">
<B><I>Registered holder only the owner of the shares</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">27.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Save as herein or by laws otherwise expressly provided, the Company
shall be entitled to treat the registered holder of any share as the
absolute owner thereof, and accordingly shall not, except as ordered by
a Court of competent jurisdiction, or as by statute required, be bound
to recognise any benami trusts whatsoever or equitable, contingent,
future, partial or other claim to or interest in such share on the part
of any other person whether or not it shall have express or implied
notice thereof, and provisions of Section&nbsp;153 of the Act shall apply
save as aforesaid, no notice of any trust expressed, implied, or
constructive, shall be entered on the register; the Directors shall,
however be at liberty, at their sole</TD>
</TR>

</TABLE>
</DIV></DIV>
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: Helvetica,Arial,sans-serif">
<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->

<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">



</TABLE>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt">18
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>discretion, to register any share in the joint names of any two or
more persons, and the survivor or survivors of them.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>V. CERTIFICATES</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Certificate
of shares</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">28.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Subject to any statutory or other requirement having the force of
law governing the issue and signatures to and sealing of certificate to
shares and applicable to this Company for the time being in force the
certificate of title to shares and the duplicate thereof when necessary
shall be issued under the seal of the Company which shall be affixed
in Ihe presence of and signed by (1)&nbsp;two Directors or persons acting on
behalf of the Directors under a duly registered power of attorney and
(2)&nbsp;the Secretary or some other person appointed by the Board for the
purpose; a Director may sign a share certificate by affixing signature
thereon by means of any machine, equipment or other mechanical means
such as engraving in metal or lithography but not by means of a rubber
stamp, provided that the Director shall be responsible for the safe
custody of such machine, equipment or other materials used for the
purpose.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Members right to Certificates</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">29.1</TD>
    <TD width="4%" nowrap align="left">(a)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Every member shall be entitled without payment to the
certificate for all the Shares of each class or denomination registered in his name,
or if the Directors, so approve (upon paying such fees as the Directors may
from time to time determine) to several certificates, each for one or of
such Shares and the Company shall complete such certificate within three
months after the allotment or such period as may be determined at the time
of the issue of such capital whichever is longer or within two months
after registration of the transfer thereof as provided by Section&nbsp;113 of
the Act. Every certificate of shares shall have its distinctive number and
be issued under the Seal of the Company and shall specify the number and
denoting number of the shares in respect of which it is issued and the
amount paid thereon and shall be in such form as the Directors shall
prescribe or approve provided that in respect of share or shares held
jointly by several persons, the Company shall not be bound to issue
more than one certificate and the delivery of a certificate for a
share of
shares to one of several joint-holders shall be deemed to be sufficient
delivery to all.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>May be delivered to any one of Joint-holders</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">29.1</TD>
    <TD width="4%" nowrap align="left">(b)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>A certificate of shares registered in the names of two or more
persons, unless otherwise directed by them in writing, may be delivered
to any one of them on behalf of them all.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Shares in Depository form .</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">29.2</TD>
    <TD width="4%" nowrap align="left">(a)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Notwithstanding anything contained herein, the Company shall be
entitled to dematerialise its shares, debentures and other securities
pursuant to the Depositories Act, 1996 and to offer its shares,
debentures and other securities for subscription in a dematerialised
form. The Company shall
however, be entitled to maintain a register of members with details of
members holding shares both in material and dematerialised form in any
media as permitted by law including any form of electronic media.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">29.2</TD>
    <TD width="4%" nowrap align="left">(b)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Notwithstanding anything contained herein, the Company shall be
entitled to treat the person whose names appear in the register of
members as a holder of any share or whose names appear as beneficial
owners of shares in the records of the Depository, as the absolute owner
thereof and accordingly shall not (except as ordered by a Court of
competent jurisdiction or as required</TD>
</TR>

</TABLE>
</DIV></DIV>
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: Helvetica,Arial,sans-serif">
<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->

<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">



</TABLE>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt">18(a)
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>by law) be bound to recognise any benami trust or equity or
equitable contingent or other claim to or interest in such share on
the part of any other person whether or not it shall have express
or implied notice thereof.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">29.2</TD>
    <TD width="4%" nowrap align="left">(c)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Notwithstanding anything contained herein, in the case of transfer
of shares or other marketable securities where the Company has not issued
any Certificates and where such shares or other marketable securities are
being held in an electronic and fungible form, the provisions of the
Depositories Act, 1996 shall apply. Further, the provisions relating to
progressive numbering shall not apply to the shares of the Company which
have been dematerialised.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Issue of new certificate in place of one defaced, lost or destroyed</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">30.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>If any certificate be worn out, defaced, destroyed or lost or if there be
no further space on the back thereof for endorsement of transfer, then upon
production thereof to the Directors, they, may order the same to be
cancelled, and may issue a new certificate in lieu thereof and if any
certificate be lost or destroyed then upon proof thereof to the satisfaction
of the Directors and on such indemnity as the Directors deem adequate being
given, a new certificate in lieu thereof shall be given to the party
entitled to such lost or destroyed certificate. A sum not exceeding Rs.
1/- shall be paid to the Company for every certificate issued under this
clause, as the Board may fix from time to time, provided that no fee shall be
charged for issue of new certificate in replacement of those which are old,
worn, decrepit out or where the cages on the reverse for recording transfers
have been fully utilised.</TD>
</TR>

</TABLE>
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>



<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: Helvetica,Arial,sans-serif">


<DIV align="center" style="font-size: 10pt; margin-top: 18pt">19
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Director
may waive fees</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">31.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Directors may waive payment of any fee generally or in any particular case.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Endorsement on certificate</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">32.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Every Endorsement upon the certificate of any share in favour
of any transferee thereof shall
be signed by such person for the time being authorised by the Directors in that behalf.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Director to comply with rules</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">33.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Board shall comply with requirements prescribed by any rules made pursuant to the said Act;
relating to the issue and execution of share certificates.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>VI. CALLS ON SHARES</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Directors may make calls</I></B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B><I>Calls may be made by instalments</I></B>

</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">34.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Subject to the provisions of Section&nbsp;91 of the said Act, the Directors may, form time to time,
by means of resolution passed at meetings of the Board make such calls as they may think fit upon
the members in respect of moneys unpaid on the share held by them respectively and not by the
conditions of allotment thereof made payable at fixed times, and each member shall pay the amount
of every call so made on him to the persons and at the times and place appointed by the Directors.
A call may be made payable b instalments.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Call to date from resolution</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">35.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>A call shall be deemed to have been made at the time when the resolution of the Directors
authorising such call was passed and may be made payable by members on a subsequent date to be
specified by Directors.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Notice of call</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">36.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Fifteen day&#146;s notice at least of every call made payable otherwise than on allotment shall be
given by the Company in the manner hereinafter provided for the giving of notices specifying the
time and place of payment, and the person to whom such call shall be paid. Provided that before the
time for payment of such call the Directors may by notice given in the manner hereinafter provided
revoke the same. The Directors may, from time to time at their
discretion, extend the time fixed
for the payment of any call, and may extend such time as to all or any of the members who, the
Directors may deem fairly entitled to such extension; but no member shall be entitled to any such
extension, except as a matter of grace and favour.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Provisions applicable to instalments</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">37.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>If by the terms of issue of any share or otherwise any amount is payable at any fixed time or
by instalments at fixed times, whether on account of the share or by way of premium, every such
amount or instalments shall be payable as if it were a call duly made by the Directors and of which
due notice had been given, and all the provisions herein contained in respect of calls shall relate
to such amount or instalments accordingly.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>When interest on call or instalment payable</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">38.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>If the sum payable in respect of any call or such other amount or instalments be not paid on or
before the day appointed for payment thereof or any extension thereof as aforesaid, the holder for
the time being of the share, in respect of which the call shall have been made, or such amount or
instalment shall be due, shall pay interest for the same, from
the day appointed for the payment thereof to the time of actual payment at such rate not exceeding
nine per cent per annum, as shall from time to time be fixed by the Directors. Nothing in this
Article shall however, be deemed to make it compulsory on the Directors to demand or recover any
such interest, and the payment of such interest, wholly or in part, may be waived by the Directors
if they think fit so to do.</TD>
</TR>

</TABLE>
</DIV></DIV>
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: Helvetica,Arial,sans-serif">
<P align="center" style="font-size: 10pt"><!-- Folio -->20<!-- /Folio -->

<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">



</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Money due to members from the Company may be applied in payment of call or instalment</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">39.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Any money due from the Company to a member may, without the consent and notwithstanding the
objection of such member, be applied by the Company in or towards the payment of any money due from
him to the Company for calls or otherwise.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Part payment on account to call etc. not to preclude forfeiture</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">40.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Neither a judgement nor a decree in favour of the Company for calls of other moneys due in
respect of any shares nor any part payment or satisfaction thereunder nor the receipt by the
Company of a portion of any money which shall from time to time be due from any member to the
Company in respect of his shares, either by way of principal or interest, nor any indulgence
granted by the Company in respect of payment of any such money, shall preclude the forfeiture of
such shares as hereinafter provided.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Proof on trial of suit on money on shares</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">41.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>On the trial or hearing of any action or suit brought by the Company against any member or his
legal representatives to recover any moneys claimed to be due to the Company for any call or other
sum in respect of his shares it shall be sufficient to prove that the name of the member in respect
of whose shares the money is sought to be recovered, appears entered on the Register of Members as
the holder, or one of the holders, al or subsequent to the date at which the money sought to be
recovered is alleged to have become due, on the shares in respect of which such money is sought to
be recovered, and that the amount claimed is not entered as paid in the books of the Company or the
Register of Members and that the resolution making the call is duly recorded in the minute book,
and that notice of such call was duly given to the member or his legal representatives sued in
pursuance of these presents; and it shall not be necessary to prove the appointment of the
Directors who made such call, not that a quorum of Directors was present at the Board at which such
call was made, nor that the meeting at which such call was made duly convened or constituted, nor
any other matter whatsoever, but the proof of the matters aforesaid shall be conclusive evidence of
the debts, and the same shall be recovered by the Company against the member or his representatives
from whom the same is sought to be recovered unless it shall be proved, on behalf of such member or
his representatives against the Company that the name of such member was improperly inserted in the
register, or that the money sought to be recovered has actually been paid.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Payment
of unpaid share capital in advance</I></B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B><I>Interest may be paid thereon</I></B>

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B><I>Repayment of such advances</I></B>

</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">42.</TD>
    <TD width="4%" nowrap align="left">(a)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Directors may, if they think fit, subject to the provisions of Section&nbsp;92 of the Act
receive from any member willing to advance the same, either in money or money&#146;s worth the whole or
any part of the amount remaining unpaid on the shares held by him beyond the sum actually called up
and upon the moneys so paid or satisfied in advance, or so much thereof, as from time to time and
at any time thereafter exceeds the amount of the calls then made upon and due respect of the shares
on account of which such advances have been made, the Company may pay or allow interest at such
rate as the member paying such advance and the Directors agree upon; provided always that if at any
time after the payment of any such money the rate of interest so
agreed to be paid to any such
member appears to the Directors to be excessive, it shall be lawful for the Directors from time to
time to repay to such member so much of money as shall then exceed</TD>
</TR>

</TABLE>
</DIV></DIV>
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: Helvetica,Arial,sans-serif">
<P align="center" style="font-size: 10pt"><!-- Folio -->21<!-- /Folio -->

<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">



</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Priority of payment in case of winding up</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>the amount of the calls made upon such shares, unless there be an express agreement to the
contrary; and after such repayment such member shall be liable to pay, and such advance had been
made, provided also that if at any time after the payment of any money so paid in advance, the
Company shall go into liquidation, either voluntary or otherwise, before the full amount of the
money so advanced shall have become due by the member to the Company for instalments or calls, or
any other manner, the member making such advance shall be entitled (as between himself and the
other members) to receive back from the Company the full balance of such moneys rightly due to him
by the Company in priority to any payment to members on account of capital.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>No right to vote</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(b)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The member making such advance shall not, however, be entitled to any voting rights in respect
of the moneys so advanced by him until the same would, but for such payment, become presently
payable.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>VII. FORFEITURE OF AND LIEN ON SHARES</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>If call or instalment not paid notice to be given to member</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">43.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>If any member fails to pay any money due from him in respect of any call made or amount or
instalment as provided in Article&nbsp;37 on or before the day appointed for payment of the same or any
such extension thereof as aforesaid or any interest due on such call or amount or instalment or any
expenses that may have been incurred thereon, the Directors or any person authorised by them for
the purpose may, at any time thereafter, during such time as such money remains unpaid, or a
judgement or a decree in respect thereof remains unsatisfied in whole or in part, serve a notice in
the manner hereinafter provided for the serving of notices on such member or any of his legal
representatives or any of the persons entitled to the share by transmission, requiring payment of
the money payable in respect of such share, together with such interest and all expenses (legal or
otherwise) incurred by the Company by reason of such non-payment.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Term of notice</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">44.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The notice shall name a day (not earlier than the expiration of fourteen days from the date of
the notice) and a place or places on or before and at which the money due as aforesaid is to be
paid. The notice may also state that in the event of the non-payment of such money at or before the
time and the place appointed, the shares in respect of which the same is owing will be liable to be
forfeited.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>In default of payment shares may be forfeited</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">45.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>If the requirements of any such notice as aforesaid are not
complied with, every or any share in
respect of which the notice is given may, at any time thereafter before payment of all calls or
amounts or instalments, interest and expenses due in respect thereof, be forfeited by a resolution
of the Directors to that effect. Such forfeiture shall include all dividends and bonuses declared
in respect of the forfeited shares and not actually paid before the forfeiture.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Notice of forfeiture</I></B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B><I>Entry of forfeiture in register of members</I></B>

</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">46.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>When any share shall have been so forfeited, notice of the forfeiture shall be given to the
member in whose name it stood immediately prior to the forfeiture or to any of his legal
representatives, or to any of the persons entitled to the share by transmission and an entry of the
forfeiture, with the date thereof, shall forthwith be made in the Register of Members. The
provisions of this Article are, however, directory onlyand no forfeiture shall in any manner be
invalidated by any omission or neglect to give such notice or to make such entry as aforesaid.</TD>
</TR>

</TABLE>
</DIV></DIV>
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: Helvetica,Arial,sans-serif">


<DIV align="center" style="font-size: 10pt; margin-top: 18pt">22
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Forfeited shares to become property of the Company and may be sold etc.</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">47.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Any share so forfeited shall be deemed to be the property of the Company and the Directors may
sell, re-allot or otherwise dispose of the same, either to the original holder thereof or to any
other persons, and either by public auction or by private sale and upon such terms and in such
manner as they shall think fit.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Forfeiture may be remitted or annulled</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">48.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>In the meantime, and until any share so forfeited shall be sold, re-allotted or otherwise
dealt with as aforesaid, the forfeiture thereof may at the discretion and by a resolution of the
Directors, be remitted or annulled as a matter of grace and favour but not as of right, upon such
terms and conditions as they think fit.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Members still liable to pay money due notwithstanding the forfeiture</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">49.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Any member whose shares have been forfeited shall, notwithstanding the forfeiture, remain
liable to pay and shall forthwith pay to the Company all calls, amounts, instalments, interest and
expenses owing upon or in respect of such shares at the time of the forfeiture, together with
interest thereon, from the time of the forfeiture until payment, at the rates, not exceeding 9
percent per annum as the Directors may determine, in the same manner in all respects as if the
shares had not been forfeited, without any deduction or allowance for the value of the shares at
the time to the forfeiture and the Directors may enforce the payment thereof if they think fit
(but without being under any obligation so to do) without entitling such member or his
representative to any remission of such forfeiture or to any compensation for the same, unless the
Directors shall think fit to make such compensation, which they shall have full power to do, in
such manner and on such terms on behalf of the Company as they shall think fit.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Effect of forfeiture</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">50.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The forfeiture of a share shall involve the extinction of all interest in and of all claims
and demands against the Company of the member in respect of the share and all other right of the
member incident to the share except only such of those rights as by these Article are expressly
saved.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Surrender of shares</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">51.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Directors may, subject to the provision of the Act, accept a surrender of any share from or
by any member desirous of surrendering them on such terms as they think fit.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Certificate of forfeiture</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">52.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>A certificate in writing, under signature of one Director and countersigned by any other person
who may be authorised for the purpose by the Directors, that the call, amount or instalment in
respect of a share was made or was due or the interest in respect of a call, amount or instalment
was or the expenses were payable, as the case may be, the notice thereof as aforesaid was given
and default in payment was made and that the forfeiture of the share was made by a resolution of
the Directors to the effect, shall be conclusive evidence of the facts stated therein as against
all persons entitled to or interested in such share.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Title of purchaser and allottee for forfeited shares</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">53.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Company may receive the consideration, if any, given for the share on any sale,
re-allotment or other disposition thereof and the person to whom such share is sold, re-allotted or
disposed of may be registered as the holder of the share and shall not be bound to see to the
application of the consideration, if any, nor shall his title to the share be affected by any
irregularity or invalidity in the</TD>
</TR>

</TABLE>
</DIV></DIV>
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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: Helvetica,Arial,sans-serif">
<P align="center" style="font-size: 10pt"><!-- Folio -->23<!-- /Folio -->

<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #textcolor#; background: #bgcolor#">
    <TD width="4%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>proceedings in reference to the forfeiture, sale, re-allotment or other disposal of the share.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Company&#146;s lien on shares</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">54.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Company shall have a first and paramount lien upon all the shares not being fully paid-up
shares, registered in the name of each member (whether solely or jointly with another or others)
and upon the proceeds of sale thereof, for all moneys from time to time due or payable by him to
the Company for calls made and all amounts or instalments as provided by Article&nbsp;37 payable in
respect of such shares and no equitable interest in any shares shall be created except upon the
footing and condition that Article&nbsp;27 hereof is to have full
effect. Any such lien shall extend to
all dividends from time to time declared in respect of such shares. Unless otherwise agreed, the
registration of a transfer of shares shall operate as a waiver of the
Company&#146;s line, if any, on
such shares. The Directors may at any time declare any shares to be exempt, wholly or partially
from the provisions of this Article.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Lien
enforced by sale</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">55.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>For the purpose of enforcing such lien, the Directors may sell, the shares subject thereto in
such manner as they think fit and transfer the same to the name of the purchaser, without any
consent and notwithstanding any opposition on the part of the indebted member or any other person
or persons interested therein and a complete title to the shares which shall be sold and
transferred shall be acquired by the purchaser, by virtue of such sale and transfer, against such
indebted member and all persons claiming with or under him whether he may be indebted to the
Company in point of fact or not. But no such sale shall be made until
notice in writing stating the
amount due or specifying the liability of engagement and demanding payment or fulfilment or
discharge thereof and of the intention to sell in default shall have been served upon such member
or his heirs, executors, administrators, representatives or persons and default shall have been
made by him or them in payment, fulfilment or discharge of such debts, liabilities or engagements
for seven days after such notice.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Application of sale proceeds</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">56.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The net proceeds of any such sale after payment of the costs of such sale, shall be applied in
or towards the satisfaction of such debts, liabilities or engagements and the residue (if any) paid
to such member or any of his executors, administrators, representatives or assigns or any of the
persons (if any) entitled by transmission to the shares sold.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Execution of instrument of transfer</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">57.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Upon any sale after forfeiture or upon any sale for enforcing
a lien, in purported exercise
of the powers hereinbefore given, the Directors may appoint some person or persons to execute an
instrument of transfer of the shares sold.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Validity
of sale of such shares</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">58.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Upon any such sale after forfeiture or for enforcing a lien in purported exercise of powers
the Directors shall cause the purchaser&#146;s name to be entered in the Register in respect of the
shares sold and shall issue to the purchaser a certificate such as is specified in Article&nbsp;52
hereof in respect of the shares sold and the purchaser shall not be bound to see to the
regularity of the proceedings or to the application of the purchase money and after his name has
been entered in the Register in respect of such shares, the validity of the sale shall not be
impeached by any person and the remedy of any person aggrieved by the sale shall be in damages only
and against the Company exclusively.</TD>
</TR>

</TABLE>
</DIV></DIV>
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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: Helvetica,Arial,sans-serif">
<P align="center" style="font-size: 10pt"><!-- Folio -->24<!-- /Folio -->

<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">



</TABLE>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>VIII. TRANSFER AND TRANSMISSION OF SHARES</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Register of Transfers</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">59.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Company shall keep a book called the &#145;Register of Transfers&#146; and therein shall be fairly
and distinctly entered the particulars of every transfer or transmission of any share in the
Company.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Instrument of transfer to be executed by transferor and transferee</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">60.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>No transfer shall be registered unless a proper instrument of transfer has been delivered to
the Company. Every instrument of transfer shall be duly stamped and
shall be executed by or on
behalf of the transferor and the transferee and in the case of a share held by two or more holders
or to be transferred to the joint names of two or more transferees by all such joint- holders or by
all such joint transferees, as the case may be, several executors or administrators of a deceased
member proposing to transfer the shares registered in the name of such deceased member shall all
sign the instrument of transfer in respect of the share as if they were the joint-holders of the
share. The instrument of transfer shall specify the name, address and occupation, if any, of the
transferee.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Shares
to be transferred by an instrument in writing</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">61.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Subject to the provisions of Section&nbsp;108, the instrument of transfer of any share shall be in
writing in the Form&nbsp;No.&nbsp;7-B as prescribed under the Companies (Central Government) General Rules
and Forms, 1956 as amended and notified in Central Government&#146;s Notification No.&nbsp;G.S.R. 631, dated
April&nbsp;23, 1966, or any statutory modifications thereof or near the said form as circumstances will
permit and duly stamped by the prescribed authority under Section&nbsp;108 of the Act within the time
prescribed under that Section.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Death of one or more joint holders</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">62.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>In the case of the death of any one or more of the persons
named in the Register as the
joint-holders of any share, the survivor or survivors shall be the only persons recognised by the
Company as having any title to or interest in such share, but nothing herein contained shall be
taken to release the estate of the deceased joint-holder from any liability on the shares held by
him jointly with any other person.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Title to share of deceased member</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">63.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The executors or administrators of a deceased member not being one of several joint-holders
shall be the only persons recognised by the Company as having any title to the shares registered in
the name of such deceased member, and the Company shall not be bound to recognise such executors or
administrators, unless they shall have first obtained probate or letters of administration or other
legal representation, as the case may be, as provided in
Article&nbsp;2, provided nevertheless, the
Directors, in any case where they in their absolute discretion think fit, may dispense with the
production of Probate or Letters of Administration or such other legal representation, upon such
terms as to indemnity or otherwise as they may deem fit and under the next Article, register the
name of any person who claims to be absolutely entitled to the shares standing in the name of the
deceased member as a member in respect of such shares.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Registration
of person entitled to shares otherwise than by transfer (transmission clause)</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">64.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Subject to the provisions of the last preceding Article, any person to whom the right to any
share has been transmitted in consequence of the death or insolvency of any member or otherwise by
operation of law may, with the consent of the Directors (which they shall not be under any
obligation to give) and upon his producing such evidence that he sustains the character in respect
of which he proposes to act under the Article and of his title as the Directors think sufficient
either be registered himself as a member in respect of such shares or elect to have some person
nominated by him and approved by the Directors registered as</TD>
</TR>

</TABLE>
</DIV></DIV>
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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: Helvetica,Arial,sans-serif">

<P align="center" style="font-size: 10pt"><!-- Folio -->25<!-- /Folio -->

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>such member, provided nevertheless, if such person shall elect to
have his nominee registered, he shall testify his election by
executing to his nominee an instrument of transfer of the share
in accordance with the provisions herein contained and until he
does so and subject to Article&nbsp;31, he shall not be freed from any
liability in respect of the shares. This clause is hereinafter
referred to as the &#145;transmission clause&#146;. A transfer of the share
or other interest 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.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Evidence of
transmission to be
verified</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">65.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Every transmission of a share shall be verified in such a manner
as the Directors may require and the Company may refuse to register
any such transmission until the same be so verified or unless an
indemnity be given to the Company with regard to such registration
which the Directors at their discretion shall consider sufficient;
provided nevertheless, that there shall not be any obligation on the
Company or the Directors to accept any indemnity, the Directors shall
have the same right to refuse to register a person entitled by
transmission to any shares or his nominee as if he were the
transferee named in an ordinary transfer presented for registration.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Rights of such
person</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">66.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>A person entitled to share by transmission may, until the
Directors otherwise determine as provided in Article&nbsp;142, receive and
give discharge for any dividends, bonuses or other moneys payable in
respect of the share, but he shall not be entitled to vote at any
meetings of the Company save as provided in Article&nbsp;125 or save as
aforesaid and as provided in Article&nbsp;251 to any of the rights and
privileges of a member, unless and until he shall have become a member
in respect of the shares.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Procedure on
application for
transfer</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">67.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>An application for the registration of a transfer of shares or
other interest of a member in the Company may be made either by the
transferor or the transferee. Where such 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 delivery of the notice. The notice to the
transferee shall be deemed to have been duly given if despatched by
pre-paid registered post to the transferee at the address given in the
instrument of transfer and shall be deemed to have been delivered at
the time at which it would have been delivered in the ordinary course
of post.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Transfer to be
left at office with
certificate
and with evidence
of title</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" nowrap align="left">68.</TD>
    <TD width="3%">(1)</TD>
    <TD>It shall not be lawful for the Company to register a transfer
of any shares unless the proper instrument of transfer duly stamped
and executed by or on behalf of the Transferor and by or on behalf of
the Transferee and specifying the name and address and occupation of
the transferee has been delivered to the Company along with the scrip
and if no such scrip is in existence, along with the letter of
allotment of the shares.
The Directors may also call for such other evidence as may
reasonably be required to show the right of the transferor
to make the transfer. Provided that where it is proved to
the satisfaction of the Directors of the Company that an
instrument of transfer signed by the Transferor and
Transferee has been lost, the Company may, if the
Directors think fit on an application in writing made by
the transferee and bearing the</TD>
</TR>

</TABLE>
</DIV></DIV>
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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: Helvetica,Arial,sans-serif">
<P align="center" style="font-size: 10pt"><!-- Folio -->26<!-- /Folio -->

<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">


<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="9%" nowrap align="left">&nbsp;</TD>
    <TD colspan="2">stamp required by an instrument of transfer register the
Transfer on such terms as to indemnity as the Directors may
think fit.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(2)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>If the Company refuses to register the transfer of any
shares, the Company shall within two months from the date on
which the instrument of transfer is lodged with the Company send
to the Transferee and the Transferor notice of the refusal as
provided in Article&nbsp;69.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(3)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Nothing in clause (1)&nbsp;shall prejudice any power of the
Company to register as shareholder any person to whom the right
to any share has been transmitted by operation of law.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(4)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Nothing in this Article shall prejudice any power of the
Company to refuse to register the transfer of any share.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Directors may
decline to register
transfers</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">69.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Directors may, at their own absolute and uncontrolled
discretion and without assigning or being under any obligation to give
any reason, decline to register or acknowledge any transfer or
transmission of shares and in particular, may so decline in any case
in which the Company has a lien upon the shares or any of them or in
the case of shares not fully paid-up whilst any moneys called or
payable at a fixed time in respect of the shares desired to be
transferred or any of them remain unpaid or unless the transferee is
approved by the Directors. Provided that registration of any transfer
shall not be refused on the ground of the transferor being either
along or jointly with any other person or persons indebted to the
Company on any account whatsoever. Nothing in Sections&nbsp;108, 109 and
110 of the Act shall prejudice this power to refuse 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 registration of a transfer shall be conclusive evidence of the
approval by the Directors of the transferee, but so far only as
regards the share or shares in respect of which the transfer is so
registered and not further or otherwise and not so as to debar the
Directors to refuse registration of any further shares applied for. If
the Directors refuse to register the transfer or transmission of any
shares notice of the refusal shall within two months from the date on
which the instrument of transfer on intimation  of transmission
was delivered to the Company be sent to the Transferee and the
Transferor or to the person giving intimation of the
transmission, as the case may be. Such notice to the transferee shall
be deemed to have been duly given if despatched by pre-paid registered
post to the transferee at the address given in the instrument of
transfer.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Transferor to
remain holder of
shares till
transfer registered</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">70.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Transferor shall be deemed to remain the holder of the
shares until the name of the transferee shall be entered in the
Register of Members.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Registered transfer
to remain with
Company</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">71.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Every instrument of transfer which shall be registered shall
remain in the custody of the Company. If the transfer relates to the
only share or all the shares comprised in the certificate, such
certificate or a new certificate in lieu thereof shall, after the
registration of the transfer, be delivered to the transferee and if
the transfer relates</TD>
</TR>

</TABLE>
</DIV></DIV>
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: Helvetica,Arial,sans-serif">
<P align="center" style="font-size: 10pt"><!-- Folio -->27<!-- /Folio -->

<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">


<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left"><B>&nbsp;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>only to a part of the shares comprised in the certificate, the
same shall, on registration of the transfer be retained by the
Directors and cancelled and new certificates will be issued to
the transferor and the transferee in respect of the shares
respectively, held by them.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Fee </B><B><I>on transfer</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">72.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>A fee not exceeding twenty five paise may be charged for each
share transferred and shall if required by the Directors, be paid
before the registration thereof.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Transfer books
and Register may be
closed for not more
than 45&nbsp;days in the
year</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">73.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Directors shall have power on giving seven days&#146; notice by
advertisement as required by Section&nbsp;154 of the Act to close the
Transfer Book and Register of Members of such period or periods of
time in every year as to them may seem expedient, but not exceeding 45
days in any year and not exceeding 30&nbsp;days at any one time.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>The Company
not liable for
disregard of any
notice prohibiting
registration of a
transfer</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">74.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Company shall incur no liability or responsibility whatever in
consequence of its registering or giving effect to any transfer of
shares made or purporting to be made, by an apparent legal owner
thereof (as shown or appearing in the; Register of Members), to the
prejudice of any person or persons having or claiming any equitable
right, title or interest to or in the same shares, notwithstanding
that the Company may have had notice of such equitable right title or
interest or prohibiting registration of such transfer and may have
entered such notice or referred thereto  in any book of the Company;
and the Company shall not be bound or required to regard or attend or
give effect to any notice which may be given to it of any equitable
right, title or interest or be under any liability whatsoever for
refusing or neglecting so to do, though it may have been entered or
referred to in some books of the Company; but the Company shall
nevertheless be at liberty to regard and attend to any such notice and
give effect thereto, if the Directors shall so think fit.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Transfer of
debentures</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">75.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The provision of these Articles shall mutatis mutandis apply to
the transfer or transmission by operation of law of debentures of the
Company.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>IX. INCREASE AND REORGANISATION OF CAPITAL</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B><I>Company may
alter its Capital
in certain way&#146;s</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">76.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Company may by Ordinary Resolution so alter the conditions of
its Memorandum of Association as :-</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(a)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>to increase it share capital by such amount as it thinks
expedient by issuing new shares;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(b)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>to consolidate and divide all or any of its share capital
into shares of larger amount than its existing shares;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(c)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>to convert all or any of its fully paid-up shares into stock
and reconvert that stock into fully paid-up shares of any
denominations;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(d)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>to sub-divide its shares or any of them into shares of
smaller amount than is fixed by its Memorandum of Association,
so however that in the sub-division the proportion between the
amount paid and the amount, if any, unpaid on each reduced share
shall be the same as it was in the case of the share</TD>
</TR>

</TABLE>
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>



<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: Helvetica,Arial,sans-serif">

<DIV style="font-family: Helvetica,Arial,sans-serif">
<P align="center" style="font-size: 10pt"><!-- Folio -->28<!-- /Folio --></div>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>from which the reduced share is derived. The Company may
subject to the provisions of Sections&nbsp;85, 87 and 88 of the Act
be between the holders of the resulting shares, one or more of
such shares may subject to the provisions of Sections&nbsp;85, 87
and 88 of the Act be given any preference or advantage as
regards dividend, capital, voting or otherwise over the other
or any other of such shares;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(e)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>to cancel any shares which, at the date of the passing of the
resolution in that behalf, have not been taken or agreed to be
taken by any person and diminish the amount of its share
capital by the amount of the shares so cancelled.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Increase </B><B><I>of Capital by the Company and how carried into effect, on what conditions </I></B><B>new </B><B><I>shares
may be issued, when to be offered </I></B><B>to </B><B><I>existing members</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">77.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Company may, from time to time, in General Meeting, with the
sanction of an Ordinary Resolution, whether all the shares for the
time being authorised shall have been issued or not and whether all
the shares for the time being issued shall have been fully called up
or not, increase its capital to any amount by the creation of new
shares, such aggregate increase to be divided into shares of such
respective amount as the Company by the resolution authorising such
increase directs or authorises. The new shares shall be issued upon
such terms and conditions (and if preference shares upon such
conditions as to redemption) and with such rights and privileges
annexed thereto, as the General Meeting resolving upon the creation
thereof shall direct or authorise and in particular such shares may be
issued with a preferential or qualified rights to dividends and in the
distribution of assets of the said  Company and subject to the
provisions of Sections&nbsp;87 and 88 of said Act with a special or without
any right of voting; and the General Meeting resolving upon the
creation of the shares may direct that any shares for the time being
unissued and new shares about to be issued or any of them, shall be
offered in first instance and either at par or at a discount to all
the then members or any class thereof, in proportion to the amount of
capital held by them or make any other provisions as to the issue and
allotment of such original shares and the new shares; and failing
such directions by  the General Meeting resolving upon the creation of
the shares or so far as such directions shall not extend the new
shares shall be at the disposal of the Directors as if they formed
part of the shares in the original capital. Whenever any shares are
issued at a discount the provisions of Section&nbsp;79 of the said Act
shall be complied with.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Increase of
Capital by the
Directors and how
carried into effect</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">78.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Directors may from time to time without any sanction of the
Company, whenever all the shares in the issued capital shall not
have been subscribed and whether all the shares for the time being
subscribed shall have been fully called up or not, issue further
shares of such value as they may think fit out of the unsubscribed
balance of the issued capital. Such further shares shall be issued
upon such terms and conditions (and if preference shares upon such
conditions as to redemption) and with such rights and privileges
annexed thereto as the Board shall direct and in particular, such
shares may be issued with a
preferential or qualified right to dividend and in the
distribution of assets of the Company and subject to the
provisions of Sections&nbsp;87 and 88 of the said Act with a special or
without any right of voting and the Board may dispose of such
shares or any of them either at per or at a premium or subject to
the provisions of Section&nbsp;79 of the said Act at a discount, to any
members or any class thereof or in such other manner as the Board
may think most beneficial to the Company.</TD>
</TR>

</TABLE>
</DIV></DIV>
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: Helvetica,Arial,sans-serif">
<P align="center" style="font-size: 10pt"><!-- Folio -->29<!-- /Folio -->

<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">



</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Further</I>
</B><B><I>Issue </I></B><B>or </B><B><I>capital</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">79.</TD>
    <TD width="4%" nowrap align="left">(1)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Where it is proposed to increase the subscribed capital of
the Company by the issue of new shares :</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="10%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(a)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>such new shares shall be offered to the persons who,
at the date of the offer are holders of the equity
shares of the Company, in proportion, as nearly as
circumstances admit to the capital paid-up on these
shares at that date;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="10%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(b)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>the offer aforesaid shall be made by notice specifying the
number of shares offered and
limiting a time not being less than fifteen days from the date of the offer within which the
offer, if not accepted, will be deemed to have been declined;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="10%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(c)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>after the expiry of the time specified in the notice aforesaid or on receipt of earlier
intimation from the persons to whom such notice is given that he
declines to accept the
shares offered, the Board of Directors may dispose of them in such manner as they think most
beneficial to the Company.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(2)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Whenever any shares are to be offered to the members the
Directors may dispose of any such shares which, by reason of the
proportion borne by them to the number of persons entitled to such
offer or by reason of any other difficulty in apportioning the
same cannot in the opinion of the Directors be conveniently
offered to the members.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Share Premium </I></B><B>Account to be </B><B><I>maintained</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">80.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Where the Company issues shares at a premium, whether for cash or otherwise, a sum equal
to the aggregate amount or value of the premium on those shares shall be transferred to an
account, to be called the Share Premium Account. The Share Premium Account shall be applied
only for the purposes authorised by Section&nbsp;78 of the said Act.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>How far new share in original </I></B><B>capital</B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">81.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Except so far as otherwise provided by the conditions of issue or by these presents,
any capital raised by creation of new shares shall be considered as part of the capital and
shall be subject to the provisions herein contained with reference to the payment of calls and
instalments, transfer, transmission,
forfeiture, lien, surrender; voting and otherwise in all respects as if it had been the
original capital.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Notice</I>
</B><B><I>of increase of </I></B><B>capital</B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">82.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Directors shall, whenever the share capital is increased
beyond the authorised capital, file with the Registrar of
Companies notice of the increase of the capital as provided by
Section&nbsp;97 of the said Act within fifteen days after the passing
of the resolution authorising the increase.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Transfer of stock</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">83.</TD>
    <TD width="4%" nowrap align="left">(a)</TD>
    <TD width="1%">&nbsp;</TD>

    <TD>When any shares shall have been converted into stock, the several holders of such stock
may thenceforth transfer their respective interests therein or any part of such interest, in
the same manner and subject to the same regulations as and subject to which shares in the
Company&#146;s capital may be transferred or as near thereto as circumstances will admit. But the
Directors may from time to time, if they think fit, fix the minimum amount of stock
transferable and restrict or forbid the transfer of fractions of that minimum, but with full
power, nevertheless, at the discretion to waive such rules in any particular case<B>.</B></TD>
</TR>

</TABLE>
</DIV></DIV>
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: Helvetica,Arial,sans-serif">

<P align="center" style="font-size: 10pt"><!-- Folio -->30<!-- /Folio -->





<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(b)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Notice of such conversion of shares into stock or reconversion
of stock into shares shall be filed with the Registrar of
Companies as provided in the said Act.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Rights of stock-holders</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">84.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The stock shall confer on the holders thereof respectively the
same privileges and advantages, as regards participation in profits
and voting at meetings of the Company and for other purposes, as
would have been conferred by shares of equal amount in the capital
of the Company of the same class as the shares from which such
stock was converted but no such privileges or advantages, except
the participation in profits of the Company or in the assets of the
Company on a winding up, shall be conferred by any such aliquot
part of, consolidated stock as would not, if existing in shares,
have conferred such privileges or advantages. No such conversion
shall affect or prejudice any preference or other special holders
of the share and authenticated by such evidence (if any) as the
provisions herein contained shall, so far as circumstances will
admit, apply to stock as well as to shares and the words &#147;share&#148;
and &#147;shareholder&#148; in these presents shall include &#147;stock&#148; and
&#147;stockholder&#148;.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Holder
of share warrant not to a member share warrant issued to bearer</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">85.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Company may with the previous approval of the Central Government issue share warrants
and accordingly the Directors may in their discretion, with respect to any fully paid-up
share on application in writing signed by the person or all persons registered as holder or
holders of the share and authenticated by such evidence (if any) as the Directors may from
time to time require as to the identity of the person or persons signing the applications and
on receiving the certificate (if any) of the share and amount of the stamp duty on the warrant
and such fee as the Directors may from time to time prescribe, issue under the Company&#146;s seal
or warrant, duly stamped stating that the bearer of the warrant is entitled to the shares
therein specified and may provide by coupons or otherwise for the payment of dividends or
other moneys, on the shares included in the warrant. On the issue of a share warrant the
provisions of Sections&nbsp;114 and 115 shall apply. The bearer of a share warrant shall not be
considered to be a member of the Company and accordingly save as herein otherwise expressly
provided, no person shall as bearer of a share warrant, sign a requisition for calling of
meeting of the Company or attend or vote or exercise any other privileges of a member at a
meeting of the Company or be entitled to receive any notice of meetings or otherwise or be
qualified in respect of the shares or stock specified in the warrant for being a Director of
the Company or have or exercise any other rights of a member of the Company.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Directors may make
rules for
issue of fresh
share warrant or
coupons</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">86.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Directors from time to time make rules as to the terms on
which (if they shall think fit) a new Share warrant or coupon may
be issued in case of defacement, loss or destruction and the fees
to be charged for the same.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>X. REDUCTION OF CAPITAL</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Reduction of
capital</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">87.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Company may from time to time by Special Resolution and
subject to confirmation by the Court, reduce its share capital in
any way and in particular and without prejudice to the generality
of the foregoing power, may:</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(a)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>extinguish or reduce the liability on any of its shares in
respect of share capital not paid up;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(b)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>either with or without extinguishing or reducing liability on
any of its shares, cancel any paid-up share capital which is
lost or is unrepresented by available assets; or</TD>
</TR>

</TABLE>
</DIV>
</div>



<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: Helvetica,Arial,sans-serif">


<DIV align="center" style="font-size: 10pt; margin-top: 18pt">31
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(c)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>either with or without extinguishing or reducing liability on
any of its shares, pay off any paid-up share capital which is in
excess of the wants of the Company;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>and may, if and so far as is necessary, alter the
Memorandum by reducing the amount of its share capital and
of its shares accordingly.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Capital may be paid off on the footing that it may be called
up again or otherwise and paid-up capital may be cancelled
as aforesaid without reducing the nominal amount of the
shares by the like amount to the intent that the unpaid and
callable capital shall be increased by the like amount. The
Directors shall whenever the capital of the Company is
reduced duly comply with the provisions of Sections&nbsp;100 to
103 of the said Act.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Provisions relating
to the redemption
of preference
shares</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">88.</TD>
    <TD width="4%" nowrap align="left">(1)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Subject to the provisions of Section&nbsp;80 of the said Act,
whenever any preference shares are issued which are or at the option of
the Company are to be liable to be redeemed, the following provisions
shall take effect:</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="10%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(a)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>No such shares shall be redeemed except out of the
profits of the Company which would otherwise be available
for dividend or out of the proceeds of a fresh issue of
shares made for the purposes of the redemption.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="10%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(b)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>No such shares shall be redeemed unless are fully paid.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="10%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(c)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The premium, if any payable on redemption must be
provided for out of the profits of the Company or out of the
Company&#146;s Share Premium Account before the shares are
redeemed.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="10%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(d)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Where any such shares are redeemed otherwise than out of
the proceeds of a fresh issue there shall, out of profits
which would otherwise have been available for dividend be
transferred to a Reserve Fund to be called &#147;The Capital
Redemption Reserve Fund&#148;, a sum equal to the nominal amount
of the share redeemed and the provisions of the Act relating
to the reduction of the share capital of the Company shall
except as provided under Section&nbsp;80 of the
Act, apply as if the Capital
Redemption Reserve Fund were paid-up share capital
of the Company.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(2)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Subject to the provisions of Section&nbsp;80 of the Act and these
Articles the redemption of preference shares hereunder may be
effected in accordance with the terms and conditions of their
issue and in the absence of any such terms and conditions in such
manner as the Directors may think fit.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(3)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The redemption of preference shares under this provisions by
the Company shall not be taken as reducing the amount of its
authorised share capital.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(4)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Where the Company has redeemed or is about to redeem any
preference shares, it shall never have power to issue shares upto
the nominal amount of the shares redeemed or to be redeemed as if
those shares had never been issued; and accordingly the share
capital of the Company shall not, for the purpose of calculating
the fees payable under Section&nbsp;601 of</TD>
</TR>

</TABLE>
</DIV></DIV>
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: Helvetica,Arial,sans-serif">
<P align="center" style="font-size: 10pt"><!-- Folio -->32<!-- /Folio -->

<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">


<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>the said Act be deemed to be increased by the issue of shares
in pursuance of this Article.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Provided that, where new shares are issued before the
redemption of the old shares, the new shares shall not so far
as related to stamp duty, be deemed to have been issued in
pursuance of this Article unless the old shares are redeemed
within one month after the issue of the new shares.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(5)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Capital Redemption Reserve Fund may notwithstanding
anything in this Article, be applied by the Company, in paying up
unissued shares of the Company to be issued to members of the
Company as fully paid bonus shares.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Division and
sub-division</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">89.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Company in General Meeting by an Ordinary Resolution after the
conditions of its Memorandum as follows (that is to say) it may:</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(a)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>consolidate and divide all or any of its share capital into
shares of larger amount than its existing shares;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(b)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>sub-divide shares or any of them into shares of smaller amounts
than originally fixed by the Memorandum subject nevertheless to the
provisions of the Act in that behalf and so however that in the
sub-division, the proportion between the amount paid and the amount,
if any unpaid on each reduced share shall be as it was in the case
of the share from which the reduced share is derived so that as
between the holders of the shares resulting from such sub-division
one or more of such shares may subject to the provisions of the Act
be given any preference or advantage or otherwise over the others or
any other such shares;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(c)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>cancel shares which at the date of such General Meeting have not
been taken or agreed to be taken by any person and diminish the
amount of its share capital by the amount of the shares so
cancelled.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Notice of Registrar
of Consolidation of
Share Capital,
conversion of
shares into stock
etc.</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">90.</TD>
    <TD width="4%" nowrap align="left">(1)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>If the Company has :</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="10%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(a)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>consolidated and divided its share capital into
shares of larger amount than its existing shares;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="10%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(b)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>converted any shares into stock;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="10%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(c)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>reconverted any stock into shares;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="10%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(d)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>sub-divided its shares or any of them;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="10%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(e)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>redeemed any redeemable preference shares;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="10%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(f)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>cancelled any shares, otherwise than in connection with a
reduction of share capital under Sections&nbsp;100 to 104.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="10%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Company shall within one month after doing so give
notice thereof to the Registrar specifying as the case
may be, the shares consolidated, divided, converted,
sub-divided,
redeemed or cancelled or the stock reconverted.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(2)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Company shall thereupon request the Registrar to record the
notice and make any alterations which may be necessary in the
Company&#146;s Memorandum or Articles or both.</TD>
</TR>

</TABLE>
</DIV></DIV>
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: Helvetica,Arial,sans-serif">
<P align="center" style="font-size: 10pt"><!-- Folio -->33<!-- /Folio -->

<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">



</TABLE>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>XI. MODIFICATION OF RIGHTS</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Power to modify
rights</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">91.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Whenever the share capital by reason of issue of Preference Shares
or otherwise is divided into different classes of shares, all or any of
the rights and privileges attached to each class may, subject to the
provisions of Section&nbsp;106 of the Act, be varied, commuted, affected,
abrogated or dealt with by agreement between the Company and any
person purporting to contract on behalf of that class provided such
agreement is ratified in writing by holders of atleast three-fourths of
nominal value of the issued shares of the class or is sanctioned by
special resolution passed at a separate meeting of the holders of the
shares of that class and supported by the votes of the holders of not
less than three-fourths of the shares of that class.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Article&nbsp;91 not to
derogate from</I></B>
<B>company&#146;s powers</B>
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 5%">This Article is not to derogate from any power the Company
would have if this Article were omitted and in particular the
powers under Sections&nbsp;391, 394 and 395 of the said Act.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 5%">The
dissentient members shall have the right to apply to Court in
accordance with the provisions of Section&nbsp;107 of the Act.
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>XII. JOINT HOLDERS</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Joint Holders</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">92.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Where two or more persons are registered as the holders of any share
they shall be deemed (so far as the Company is concerned) to hold
the same as joint tenants with benefits of survivorship subject to the
following and other provisions contained in these Articles.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>No </B><B><I>transfer to more
than six persons</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(a)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Company shall be entitled to decline to register more than
six persons as the joint holders of any shares.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Liabilities of
holders</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(b)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The joint holders of any share shall be liable severally as
well as jointly for and in respect of all calls or instalments and
other payments which ought to be made in respect of such shares<B>.</B></TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Death of Joint
holders</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(c)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>On the death of any one or more of such joint holders the
survivor or survivors shall be the only person or persons
recognised by the Company as having any title to the share
but the Directors may require such evidence of death as they
may deem fit and nothing herein contained shall be taken to
release the estate of a deceased joint holder from any liability
on shares held by him jointly with any other person.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Receipt of one</I></B>
<B>sufficient</B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(d)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Any one of such joint holders may give effectual receipts for any
dividends or other moneys payable in respect of such share.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Delivery of
Certificate and
giving of notices
to first named
holder</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(e)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Only the person whose name stands first in the Register of
Members as one of the joint holders of any shares shall be
entitled to delivery of the certificate relating to such or to
receive notices (which expression shall be deemed to include
all documents as defined in Article&nbsp;2) from the Company and
any notice given to such person shall be deemed notice to all
the joint holders.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Votes of joint
holder</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(f)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Any one of two or more joint holders may vote at any meeting
either personally or by an agent duly authorised under a power of
attorney or by proxy in respect of such shares as if he were
solely entitled thereto and if more than one of such joint holders</TD>
</TR>

</TABLE>
</DIV></DIV>
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: Helvetica,Arial,sans-serif">
<P align="center" style="font-size: 10pt"><!-- Folio -->34<!-- /Folio -->

<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #textcolor#; background: #bgcolor#">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>be present at any meeting personally or by proxy or by attorney
that one of such persons so present whose name stands first or
higher (as the case may be) on the Register in respect of such
share shall alone be entitled to vote in respect thereof.
Provided always that a person present at any meeting personally
shall be entitled to vote in preference to a person, present by
an agent, duly authorised under a power of attorney or by proxy
although the name of such persons present by an agent or proxy
stands first in the Register in respect of such shares. Several
executors of a deceased member in whose (deceased member&#146;s)
sole name any share stands shall for the purpose of this
sub-clause be deemed joint holders.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>XIII. GENERAL MEETING</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Statutory Meeting</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">93.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Statutory Meeting of the Company shall be commenced, held and
conducted as required by Section&nbsp;165 of the said Act at such time not
being less than one month or more than six months from the date on which
the Company is entitled to commence business and at such place as the
Directors may determine. This meeting shall be called Statutory Meeting.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Annual General
Meeting</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">94.</TD>
    <TD width="4%" nowrap align="left">(a)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Company shall, in addition to any other meetings which are
hereinafter referred to as &#147;Extraordinary General Meeting&#148;, hold
a General Meeting which shall be styled its Annual General
Meeting at the intervals and in accordance with the provisions
hereinafter mentioned.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(b)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Annual General Meeting of the Company shall be held within
six months after the expiry of each financial year; provided
however that if the Registrar shall have for any special reason
extended the time within which any Annual General Meeting shall
be held by a further period not exceeding 3&nbsp;months, the Annual
General Meeting may be held within the additional time fixed by
the Registrar. Except in cases where the Registrar has given an
extension of time as aforesaid for holding any Annual General
Meeting not more than 15&nbsp;months shall elapse between the date
of one Annual General Meeting and that of the next and the
Annual General Meeting shall be held in every calendar year.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(c)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Every Annual General Meeting shall be called for any time during
business hours, on a day that is not a public holiday and shall
be held either at the Registered Office of the Company or at some
other place within the city, town or village in which the Registered
Office of the Company be situate and the notice calling the
meeting shall specify it as the Annual General Meeting.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Directors may call
Extraordinary
General Meetings</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(d)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Directors may call Extraordinary General Meetings of the
Company whenever they think fit and such meetings shall be held
at such place and time as the Directors think fit.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Power of Central
Government to call
General Meeting</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">95.</TD>
    <TD width="4%" nowrap align="left">(1)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>If the default is made in holding an Annual General Meeting in
accordance with Section&nbsp;166 of the Act, the Central Government
may, notwithstanding anything in the Act, (or in the Articles of the
Company) on the application of any member of the Company, call
or direct the calling of a General Meeting of the Company, and give
such ancillary or consequential directions as the Central Government</TD>
</TR>

</TABLE>
</DIV></DIV>
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: Helvetica,Arial,sans-serif">
<P align="center" style="font-size: 10pt"><!-- Folio -->35<!-- /Folio -->

<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">


<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>thinks expedient in relation to the calling, holding and
conducting of the meeting.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Explanation</B> :- The directions that may be given under
the said section may include a direction that one member of
the Company so present in person or by proxy shall be deemed
to constitute a meeting.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(2)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>A General Meeting held in pursuance or sub-clause (i)&nbsp;shall subject
to any directions of the Central Government deemed to be an Annual
General Meeting of the Company.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Section&nbsp;171 </I></B><B>to </B><B><I>186
of the Act shall
apply to meetings</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">96.</TD>
    <TD width="4%" nowrap align="left">(1)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The provisions of Sections&nbsp;171 to 186 of the Act shall
notwithstanding anything to the contrary in the Articles of the
Company, apply with respect to General Meetings of the
Company.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(2)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Unless the Articles or a contract binding on the persons concerned
otherwise provides Sections&nbsp;171 to 186 of the Act with such
adaptions and modifications, if any, as may be prescribed shall
apply with respect to meetings of any class of members or of
debenture holders or any class of debenture holders of the
Company in like manner as they apply with respect to General
Meetings of the Company.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Calling of
Extraordinary
General Meeting on
requisition</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">97.</TD>
    <TD width="4%" nowrap align="left">(1)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Board of Directors of the Company shall on the requisition
of such number of members of the Company as is specified
in sub-clause (4)&nbsp;forthwith proceed duly to call an Extraordinary
General Meeting of the Company.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(2)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The requisition shall setout the matters for the consideration
of which the meeting is to be called shall be signed by the
requisitionists and shall be deposited at the Registered Office
of the Company.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(3)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The requisition may consist of several documents in like form
each signed by one or more requisitionists.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(4)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The number of members entitled to requisition a meeting in
regard to any matter shall be such number of them as hold
at the date of the deposit of the requisition not less than
one-tenth of such of the paid-up capital of the Company as at
that date carries the right of voting in regard to that matter.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(5)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Where two or more distinct are specified in the requisition, the
provisions of sub-clause (4)&nbsp;shall apply separately in regard to
each such matters and the requisition shall accordingly be valid
only in respect of these matters in respect to which the
conditions specified in that sub-clause is fulfilled.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(6)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>If the Board does not within twenty one days from the date
of the deposit of a valid requisition in regard to any matters,
proceed duly to call a meeting for the consideration of those
matters on a day not later than forty five days from the date
of deposit of the requisition, the meeting may be called :</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="10%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(a)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>by the requisitionists themselves;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="10%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(b)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>by such of the requisitionists as present either a majority</TD>
</TR>

</TABLE>
</DIV></DIV>
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: Helvetica,Arial,sans-serif">
<P align="center" style="font-size: 10pt"><!-- Folio -->36<!-- /Folio -->

<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">


<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="10%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>in value of the paid-up share capital held by all of
them or not less than one-tenth of such of the paid-up
share capital of the Company as is referred to in
sub-clause (4)&nbsp;whichever is less.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="10%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left"><B>&nbsp;</B></TD>
    <TD width="1%"><B>&nbsp;</B></TD>
    <TD><B>Explanation </B>:- For the purposes of this sub-clause,
the Board shall in the case of a meeting at which a
resolution is to be proposed as a special resolution, be
deemed not to have duly convened the meeting if they do
not give such notice thereof as is required by
sub-section (2)&nbsp;of Section&nbsp;189.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(7)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>A meeting called under sub-clause (6)&nbsp;by the requisitionists or
any of them </TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="10%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(a)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>shall be called in the same manner as nearly as possible as
that in which meetings are to be called by the Board; but</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="10%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(b)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>shall not be held after the expiration of three months from
the date of the deposit of the requisition.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="10%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left"><B>&nbsp;</B></TD>
    <TD width="1%"><B>&nbsp;</B></TD>
    <TD><B>Explanation </B>:- Nothing in Clause (b)&nbsp;shall be deemed to
prevent a meeting duly commenced before the expiry of the
period of three months aforesaid from adjourning to some
day after the expiry of that period.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(8)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Where two or more persons hold any shares or interest in a
Company jointly, a requisition or a notice calling a meeting signed
by one or only some of them shall for the purposes of this Section
have the same force and effect as if it has been signed by all
of them.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Length of
Notice for calling
meeting</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(9)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Any reasonable expenses incurred by the requisitionists by
reasons of the failure of the Board duly to call a meeting shall
be repaid to the requisitionists by the Company; and any sum
so repaid shall be retained by the Company out of any sums due
or to become due from the Company by way of fees or other
remuneration for their services to such of the Directors as were
in default.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">98.</TD>
    <TD width="4%" nowrap align="left">(1)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>A General Meeting of the Company may be called by giving not
less than twenty one day&#146;s notice in writing but a General Meeting
may be called after giving shorter notice if consent is accorded
thereto</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="10%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(i)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>in the case of an Annual General Meeting by all the members
entitled to vote thereat; and</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="10%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(ii)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>in the case of any meeting, by members of the Company
holding not less than 95&nbsp;percent of such part of the paid-up
share capital of the Company as gives a right to vote at
the meeting.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="10%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Provided that where any members of the Company are entitled
to vote only on some resolution or resolutions to be moved
at meeting and not on others, those members shall be taken
into account for the purposes of this clause in respect of
the
former resolution or resolutions and not in respect of the
latter.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Contents of
Notice</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(2)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Notice of every meeting of the Company shall specify the place
and the day and hour of the meeting and shall contain a statement
of the business to be transacted thereat.</TD>
</TR>

</TABLE>
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio --><!-- /Folio -->
</DIV>



<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: Helvetica,Arial,sans-serif">


<DIV align="Center" style="font-size: 10pt; margin-top: 6pt">37

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>To whom notice to be given</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(3)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Such notice shall be given -</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="10%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(i)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>to every member of the Company, in any manner authorised by Clauses (1)&nbsp;to (5)&nbsp;of
Article&nbsp;249;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="10%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(ii)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>to every member of the Company in any manner authorised by
sub-section (1)&nbsp;to (4)
of Section&nbsp;53 of the Act; Provided that where the notice of
a meeting is given by advertising the same in a newspaper
circulating in the neighbourhood of the Registered Office
of the Company under sub-section (3)&nbsp;of Section&nbsp;53 of the
Act, the Explanatory Statement need not be annexed to the
notice as required by Section&nbsp;173 of the said Act but it
shall be mentioned in the advertisement that the statement
has been forwarded to the members of the Company;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="10%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(iii)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>to the persons entitled to a share in consequence of the death or
insolvency of a member by sending it through the post in a prepaid letter
addressed to them by name  or by the title or representatives of the
deceased or assignees of the insolvent or by any like description, at the
address, if any, in India supplied for the purpose by the person claiming to
be so entitled or until such an address has been so supplied by giving the
notice in any manner in which it might have been given if the death or
insolvency had not occurred; and</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="10%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(iv)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>to the Auditor or Auditors for the time being of the Company in any manner
authorised by Section&nbsp;53 in the case of any member or
members of the Company.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Omission to give notice or non-receipt of notice shall not invalidate proceedings</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(4)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The accidental omission to give notice to or the non-receipt of notice by, any member or
other person to whom it should be given shall not invalidate the proceedings at the meeting.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Proxy</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(5)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>In every notice calling a meeting of the Company there shall appear with reasonable
prominence a statement that a member entitled to attend and vote is entitled to appoint a
proxy or where that is allowed one or more proxies, to attend and vote instead of himself and
that a proxy need not be a member.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Explanatory statements</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(6)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Where any items of business to be transacted at the meeting are deemed to be special as
provided in Article&nbsp;99 there shall be annexed to the notice of the meeting a statement setting
out all materials facts concerning each such item of business,
including in particular the
nature of the concern of interest, if any therein, of every Director, the Managing Agent if
any or the Secretaries and Treasurers if any or the manager if any.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Inspection of documents referred in the explanatory statement</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(7)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Where any item of business consists of the according of approval to any document by the
meeting the time and place where the document can be inspected shall be specified in the
statement aforesaid.</TD>
</TR>

</TABLE>
</DIV>
<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: Helvetica,Arial,sans-serif">


<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">



</TABLE>
</DIV>

<DIV align="Center" style="font-size: 10pt; margin-top: 6pt">38

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Special Notice</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(8)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Directors shall duly comply with the provisions of Section&nbsp;190 of the said Act with
regard to resolutions in respect of which Special Notice is required by the said Act.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Business to be transacted at meetings</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">99.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>In the case of an Annual General Meeting all business to be transacted at the meeting shall
be deemed special with the exception of business relating to (i)&nbsp;the consideration of the
Accounts, Balance Sheet and the Reports of the Board of Directors and Auditors, (ii)&nbsp;the
declaration of a dividend, (iii)&nbsp;the appointment of Directors in the place of those retiring
and (iv)&nbsp;the appointment of and the fixing of the remuneration
of the Auditors. In the case of
any other meeting all business shall be deemed special.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Circulation of members&#146; resolutions</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">100.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Upon a requisition of members complying with Section&nbsp;188 of the said Act, the Directors shall
comply with the obligations of the Company under the said Act relating to circulation of
members&#146; resolutions and statements.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Certificate conclusive as to Meeting having been duly called</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">101.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>A certificate in writing, signed by the Secretary or by a Director or some officer
appointed by the Directors for the purpose, to the effect that according to the best of its
belief the notices convening the meeting have been duly given shall be prima facie evidence
thereof.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>XIV. PROCEEDINGS AT GENERAL MEETINGS</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Business which may not be transacted at the meeting</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">102.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>No General Meeting, Annual or Extraordinary, shall be competent to enter upon, discuss or
transact any business a statement of which has not been specified in the notice convening the
meeting except as provided in the said Act.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Presence of Quorum</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">103.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>No business shall be transacted at any General Meeting, unless the requisite quorum is
present at the time when the meeting proceeds to business. Five members personally present and
entitled to be present and to vote shall be a quorum for a General Meeting for all purposes
save as otherwise expressly provided in the said Act or in these presents. When more than one
of the joint-holders of a share is present not more than one of them shall be counted for
ascertaining the quorum. Several executors or administrators of a deceased person in whose
sole name shares stand shall for the purpose of this clause be deemed jointholders thereof.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>If quorum not present, when meeting to be dissolved and when to be adjourned</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">104.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>If, within half an hour from the time appointed for holding the meeting, a quorum of members
is not present, the meeting if convened by or upon such requisition of members as aforesaid
shall be dissolved, but in any other case (subject to the provisions
of Articles 179(4)(b)) it
shall stand adjourned to the same day in the next week at the same place and time or to such
other day and at such other time and place as the Directors may determine.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Adjourned
meeting to transact business even if no quorum present</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">105.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>If at such adjourned meeting a quorum of members is not present within half an hour from the
time appointed for holding the meeting, the members present, whatever their number, shall be a
quorum and may transact the business and decide upon all matters which</TD>
</TR>

</TABLE>
</DIV>
<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: Helvetica,Arial,sans-serif">


<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">



</TABLE>
</DIV>

<DIV align="Center" style="font-size: 10pt; margin-top: 6pt">39

</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>could properly have been disposed of at the meeting from which the
adjournment took place, if a quorum had been present thereat.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>General Meeting</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">106.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Chairman of the Directors shall if present and willing, be entitled to take the
chair at every General Meeting, whether Annual or Extraordinary, but if there be no such
Chairman or in case of his being present or being unwilling or failing to take the chair
within fifteen minutes of the time appointed for holding such meeting, the members present
shall choose another Director as Chairman and if all the Directors present decline to take
the chair or if there be no Director present, then the members present shall choose one of
their own members to be Chairman of the meeting. If a poll is demanded it shall be taken
forthwith in accordance with the provisions of Article&nbsp;112. The Chairman elected on a show
of hands exercising all the powers of the Chairman for the purpose of such poll. If some
other person is elected Chairman as a result of such poll, he shall be the Chairman for
the rest of the meeting.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>When chair vacant business confined to election of Chairman</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">107.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>No business shall be transacted at any General Meeting, except the election of Chairman,
whilst the chair is vacant.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Chairman with consent of members may adjourn meeting</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">108.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>the Chairman may, with the consent of a majority of the members personally present at any
meeting, adjourn such meeting from time to time and from place to place in the city, town or
village where the Registered Office of the Company be situate but no business shall be
transacted at any adjourned meeting other than the business left unfinished at the meeting
from which the adjournment took place. A resolution passed at an adjourned meeting of the
Company shall be treated as having been passed on the date on which it was in fact passed and
shall not be deemed to have been passed on any earlier date.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Notice of adjournment</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">109.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Whenever any meeting is adjourned for thirty days or more notice of such adjourned meeting
shall be given as in the case of an original meeting. Save as aforesaid it shall not be
necessary to give any notice of any adjourned meeting or of the business to be transacted at
an adjourned meeting.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Voting to be by show of hands</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">110.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>No resolution submitted to a meeting, shall be discussed nor put to vote until the same has
been proposed by a member present and entitled to vote on such resolution and seconded by
another member present at and entitled so to vole.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Chairman&#146;s declaration of result of voting by show of hands</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">111.</TD>
    <TD width="4%" nowrap align="left">(1)</TD>
    <TD width="1%"></TD>
    <TD>At any General Meeting, a resolution put to vote of the meeting shall, unless
a poll is demanded under Article&nbsp;112, be decided on a show of hands.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Chairman&#146;s declaration of result of voting by show of hands conclusive</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(2)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>A declaration by the Chairman in pursuance of clause (1)&nbsp;hereof that on a show of hands a
resolution has or has not been carried or has or has not been carried either unanimously or by
a particular majority and an entry to that effect in the book containing the minutes</TD>
</TR>

</TABLE>
</DIV>
<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: Helvetica,Arial,sans-serif">


<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">



</TABLE>
</DIV>

<DIV align="Center" style="font-size: 10pt; margin-top: 6pt">40

</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>of the proceedings of the Company, shall be conclusive evidence
of the fact, without proof of the number of proportion of the
votes cast in favour of or against such resolution.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Poll</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">112</TD>
    <TD width="4%" nowrap align="left">(1)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD> Before or on the declaration of the result of the voting on any
resolution on a show of hands a poll may be ordered to be taken by the
Chairman of the meeting of his own motion and shall be ordered to be taken by him on
a demand made in that behalf by:</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="10%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(a)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>atleast five members having the right to vote on
the resolution and present in person or by proxy; or</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="10%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(b)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>by any member or members present in person or by
proxy and having not less than one-tenth of the total voting
power in respect of the resolution; or</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="10%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(c)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>by any member or members present in person or
proxy and holding shares in the Company conferring a right to
vote on the resolution being shares on which an aggregate sum
has been paid-up which is not less than one-tenth of the
total sum paid-up on all the shares conferring that right.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(2)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The demand for a poll may be withdrawn at any time by the person or persons who made the
demand.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Time of taking poll</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(3)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>if a poll is duly demanded, the same, if on the election of Chairman of a meeting or on any
question of adjournment, shall be taken at the meeting without adjournment and if on any other
question, (not being a question relating to the election of a Chairman which is provided for
in Section&nbsp;175 of the Act) shall be taken in such manner and at such time and place and either
at once or after an interval or adjournment not being later than forty-eight hours from the
time when the demand was made, as the Chairman of the meeting who subject to the provisions of
the said Act shall have power to regulate the manner in which a poll shall be taken, shall
direct.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Poll how to be taken</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(4)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Every such poll may be taken either by open voting or by ballot as the Chairman of the
meeting at which the poll was demanded may direct. The result of the poll shall be deemed to
be the decision of the meeting on the resolution on which the poll was taken.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Appointment of scrutineers</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(5)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Two scrutineers shall be appointed by the Chairman to scrutinise the votes given on the poll
and to report to him. The Chairman shall have the power at any time before the result of the
poll is declared to remove a scrutineer from office and to fill vacancies in the office of
scrutineer arising from such removal or from any other cause. Atleast one scrutineer shall be
a member present at the meeting not being an officer or employee of the Company, provided such
a member is available and willing to be appointed.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Manner of taking poll and result thereof</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(6)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Subject to the provisions of the Act, the Chairman of the meeting shall have power to
regulate the manner in which a poll shall be taken.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(7)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The decision of the Chairman on any difference between the scrutineers shall be conclusive.</TD>
</TR>


</TABLE>
</DIV>
<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: Helvetica,Arial,sans-serif">


<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">



</TABLE>
</DIV>

<DIV align="Center" style="font-size: 10pt; margin-top: 6pt">41

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Other business may proceed notwithstanding demand for poll</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(8)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The demand for a poll shall not prevent the continuance of the meeting for the transaction of
any business other than the question on which the poll has been demanded.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Form of demand for Poll</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(9)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>A demand for a poll shall be made in the following similar terms</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>&#147;We, the undersigned members of Wipro Limited hereby
demand a poll upon the resolution now before
this meeting. Dated this <U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u> day of
<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u>&#148;</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Casting
vote of the Chairman</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">113.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>In case of an equality of votes the Chairman of any meeting shall both on the show of hands
and at a poll (if any) held pursuant to a demand made at such meeting, have a casting vote in
addition to vote or votes to which he may be entitled as a member.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Minutes
of proceedings of General Meetings of Board and other meeting</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">114.</TD>
    <TD width="5%" nowrap align="left">(1)</TD>
    <TD width="4%">(a)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Company shall cause minutes of all proceedings of General
Meetings and of all proceedings at meetings of its Board of Directors or of
committees of the Board, to be entered in books kept for the purpose.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="10%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(b)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The minutes of each meeting shall contain a fair and correct
summary of the proceedings thereat.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="10%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(c)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>All appointments of officers made at any time of the meetings
aforesaid shall be included in the minutes of the meeting.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="10%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(d)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>In case of a meeting of the Board of Directors or of a Committee of
the Board, the minutes shall also contain:</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="17%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(i)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>the names of the Directors present at the
meeting; and</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="17%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(ii)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>in the case of each resolution passed at the
meeting, the name of the Directors, if any,
dissenting from or not concurring on the
resolution.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="10%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(e)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Nothing contained in
sub-clauses (a)&nbsp;to (b) shall be deemed to require the
inclusion of the Chairman of the meeting:</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="17%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(i)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>is or could reasonably be regarded as
defamatory of any person;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="17%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(ii)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD> is irrelevant to the interests of the
Company;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="15%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(iii)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>is detrimental to the interests of the
Company.</TD>
</TR>

</TABLE>
</DIV>
<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: Helvetica,Arial,sans-serif">


<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">



</TABLE>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 6pt">42
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 15%"><B>Explanation :- </B>The Chairman shall exercise an absolute discretion in regard to the
inclusion or non-inclusion of any matter in the minutes on the grounds specified in
this Article.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Minutes to be evidence</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(2)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Any such minute, if purporting to be signed by the Chairman of the meeting at which the
proceedings took place or by the Chairman of the next succeeding meeting, shall be evidence of
the proceedings.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Presumption to be drawn where minutes duly drawn and signed</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(3)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Where minutes of the proceedings of any General Meeting of the Company or of any meeting of
its Board of Directors or of a Committee of the Board have been made and signed in accordance
with the provisions of Sections&nbsp;193 and 194 of the Act and clauses (1)&nbsp;and (2)&nbsp;hereof, then
until the contrary is proved, the meeting shall be deemed to have been duly called and held
and all proceedings thereat to have duly taken place and in particular all appointments of
Directors or Liquidators made at the meeting shall be deemed to be valid.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Inspection of Minute Books of General Meeting</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">115</TD>
    <TD width="4%" nowrap align="left">(1)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The books containing the minutes of the proceedings of any General Meetings of the
Company shall -</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="10%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(a)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>be kept at the registered office of the Company; and</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="10%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(b)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>be open during business hours to the inspection of any member without
charge subject to such reasonable restrictions as the Company may impose so however
that not less than two hours in each day are allowed for inspection.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(2)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Any member shall be entitled to be furnished within seven days after he has made
request in that behalf to the Company with a copy of any Minutes referred to in sub-clause
(1)&nbsp;on payment of 37 paise for every one hundred words or fractional part thereof
required to be copied and that the Company shall comply with  provisions of Section&nbsp;196
of the Act.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Publication
of reports of proceedings of General Meeting</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">116.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>No document purporting to be a report of the proceedings of any General Meeting of the
Company shall be circulated or advertised at the expense of the Company unless it includes
the matters required by Section&nbsp;193 of the Act to be contained in the Minutes of the
proceedings of such meeting.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>XV. VOTES OF MEMBERS</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Indebted members not to vote</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">117.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>No member shall be entitled to exercise any voting right on any question either personally
or by proxy or upon poll in respect of any shares registered in his name on which any calls or
other sums presently payable by him have not been paid or in regard to which the Company has
or has exercised any right of lien.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Restrictions on exercise of voting rights in other cases to be void</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">118.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>A member is not prohibited from exercising his voting right on the ground that he has held
his share or other interest in the Company for any specified period preceding the date on
which the vote is taken, or on any other ground not being a ground set out in Article&nbsp;117.</TD>
</TR>

</TABLE>
</DIV>
<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: Helvetica,Arial,sans-serif">


<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">



</TABLE>
</DIV>

<DIV align="Center" style="font-size: 10pt; margin-top: 6pt">43

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Vote of person of unsound mind</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">119.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>A member of unsound mind or in respect of whom an order has been made by any court
having jurisdiction in lunacy, may vote, whether on a show of hands or at a poll by his
committee or other legal guardian and not otherwise, and any such committee or guardian
may, on a poll, vote by proxy.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Power of Court to order meeting to be called</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">120.</TD>
    <TD width="4%" nowrap align="left">(1)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>If for any reason, it is impracticable to call a meeting of the Company other than an
Annual General Meeting in any manner in which meetings of the Company may be called or to
hold or conduct the meeting of the Company in the manner prescribed by the Act or the
Articles the Court may either of its own notice or on the application of any Directors of
the Company or of any member of the Company who would be entitled to vote at the meeting :-</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="10%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(a)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>order a meeting of the Company to be called, held and conducted in
such manner as the Court thinks lit, and</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="10%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(b)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>give such ancillary or consequential directions as the Court
thinks expedient including directions modifying or supplementing in relation to
the calling, holding and
conducting of the meeting, the operation of the provisions of the Act and of
the Company&#146;s Articles.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Explanation :- </B>The directions that may be given under sub-section (1)&nbsp;of Section&nbsp;186
of the Act may include a direction that one member of the Company present in person
or proxy shall be deemed to constitute a meeting.</TD>
</TR>
<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(2)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Any meeting called, held and conducted in accordance with any order shall for
all purposes be deemed to be a meeting of the Company duly called, held and conducted.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Representation of corporations</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">121.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>A body corporate (whether a company within the meaning of the said Act or not) may by
resolution of its Board of Directors or other governing body authorise such persons as it
thinks fit to act as its representative at any meeting of the Company, or at any meeting of
any class of members of the Company. A person authorised by resolution as aforesaid shall be
entitled to exercise the same rights and powers (including the right to vote by proxy) on
behalf of the body corporate which he represents as that body could exercise if it were a
member,  creditor or holder of debentures of the Company.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Number of votes to which member is entitled</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">122.</TD>
    <TD width="4%" nowrap align="left">(a)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Subject and without prejudice to any special privileges or restrictions or conditions
for the time being attached to or affecting the preference or other special classes of shares, if
any, issued by and for the time being forming part of the capital of the Company every member,
entitled to vote under the provisions of these presents and not disqualified by the provisions of
Articles 117 and 119 or by any other Article shall on a show of hands have one vote and upon a poll
every member, present in person or proxy or agent duly authorised by
a power-of-attorney or
representative duly authorised and not disqualified as aforesaid, shall have voting rights in
proportion to his share of the paid-up equity capital of the Company subject however to any limits
imposed by law. But no member shall have voting right in respect of any moneys paid in advance as
provided by Article&nbsp;42.</TD>
</TR>

</TABLE>
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>



<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: Helvetica,Arial,sans-serif">


<DIV align="center" style="font-size: 10pt; margin-top: 18pt">44
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>No
voting by proxy on show of hands</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(b)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>No member not personally present shall be entitled to vote on a show of hands
unless such member is a body corporate present by proxy or by a representative duly
authorised under Section&nbsp;187 of the Act in which case such proxy or representative may
vote on a show of hands as if he were a member of the Company.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Right to use votes differently</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">123.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>On a poll taken at a meeting of the Company a member entitled
to more than one vote, or his proxy or other person entitled to vote
for him, as the case may be, need not, if  he votes, use all his votes
or cast in the same way all the votes he uses. A member or his
proxy who votes shall be deemed to have used all his votes unless
he expressly gives written notice to the contrary at the time he casts
any votes.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Joint-holders&#146; voting</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">124.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Where there are joint registered holders of any share any one of
such persons may vote at any meeting in respect of such share
as if he were solely entitled thereto and if more than one of such
jointholders be present at any meeting that one of the said persons
so present whose name stands first on the register in respect of
such shares shall alone be entitled to vote in respect thereof. Where
there are several executors or administrators of a deceased member
in whose sole name any shares stand, and one of such executors
or administrators may vote in respect of such shares unless any
other of such executors or administrators is present at the meeting
at which such a vote is tendered and objects to the votes.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><I><B>Votes of a person entitled to a share on transmission</B></I>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">125</TD>
    <TD width="4%" nowrap align="left">(1)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Any person entitled under the transmission clause (Article&nbsp;64) to transfer any shares
shall not be entitled to be present, or to vote at any meeting either personally or by
proxy, in respect of such shares, unless forty-eight hours at least before the time for
holding the meeting or adjourned meeting, as the case may be, at which he proposes to be
present and to vote he shall have satisfied the Directors of his right to transfer such
shares (as to which the opinion of the Directors shall be final), or unless the Directors
shall have previously admitted his right to vote in respect thereof.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(2)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>In every notice calling a meeting of the Company there shall appear with
reasonable prominence a statement that a member entitled to attend and vote is entitled
to appoint one or more proxies to attend and vote instead of himself and that a proxy
need not be a member.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Proxies</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">126.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Any member entitled to attend and vote at a meeting of the Company
shall be entitled to appoint another person (whether a member or
not) as his proxy to attend and vote instead of himself but a proxy
so appointed shall not have any right to speak at the meeting
provided that unless where the proxy is appointed by a body
corporate a proxy shall not be entitled to vote except on a poll.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Instrument of proxy to be in writing</I></B>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B><I>Proxy may demand poll</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">127.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The instrument appointing a proxy shall be in writing and shall be
signed by the appointer or his attorney duly authorised in writing.
If the appointer is a body corporate such instrument shall be under
its seal or be signed by an officer or an attorney duly authorised
by it, or by the persons authorised to act as the representative of
such company under Article&nbsp;121. Any instrument appointing a proxy
to vote at a meeting shall be deemed to include the power to
demand or join in the demand for a poll on behalf of the appointer.</TD>
</TR>

</TABLE>
</DIV>



<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: Helvetica,Arial,sans-serif">




<DIV align="center" style="font-size: 10pt; margin-top: 18pt">45
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Instrument of proxy to be deposited at the Registered Office</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">128.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>No instrument of proxy shall be treated as valid and no person shall be allowed to
vote or act as proxy at any meeting under an instrument of proxy, unless such instrument
of proxy and power-of-attorney or other authority (if any) under which it is signed or a
notarially certified copy of that power or authority shall have been deposited at the
Registered Office of the Company at least forty-eight hours before the time appointed for
holding the meeting or adjourned meeting at which the persons named in such instrument
proposes to vote. An instrument appointing a proxy or an attorney permanently or for a
certain period once registered with the Company need not be again registered before each
successive meeting and shall be in force until the same shall be revoked.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Notwithstanding that a power-of-attorney or other authority has
been registered in the records of the Company, the Company may
by notice in writing addressed to the member or to attorney atleast
seven days before the date of a meeting require him to produce
the original power-of-attorney or authority and unless the same is
thereupon deposited with the Company the attorney shall not be
entitled to vote at such meeting unless the Directors in their
 absolute discretion excuse such non-production and deposit.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Custody of the instrument of appointment</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">129.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>If any such instrument of appointment be confined to the objects of
appointing an attorney or proxy or substitute, it shall remain, permanent or for such time as
the Directors may determine in the custody of the Company and if embracing other objects, a
copy thereof, examined with the original shall be delivered to the Company to remain in the
custody of Company.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Form of Proxy</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">130.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The instrument appointing a proxy whether for a specified meeting or otherwise may be
in either of the forms set out in Schedule&nbsp;IX to the said Act or the following form or as
near thereto as circumstances admit :</TD>
</TR>

</TABLE>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>FORM OF PROXY</B>
</DIV>


<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><B>WIPRO LIMITED</B>

</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 5%">I/We&nbsp;<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U> of <U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U>
in
the district of
<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U> being a member/members of the
above named company do hereby appoint
<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U> of
<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U>
in the district of <U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;</U><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U>
or failing him
<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U>
of <U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</U><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U>
in the district of
<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U>&nbsp;as
my/our proxy to vote for me/us and on
behalf of me/us at the Annual General Meeting/General Meeeting (not being an Annual General Meeting)
of the Company to be held on the&nbsp;<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U>&nbsp;day of
<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U>
and at an adjournment thereof.
<br>As witness my hand this
<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U>&nbsp;day of <U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U>&nbsp;Signed by the
said
<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U> in the presence of :
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: Helvetica,Arial,sans-serif">

<DIV align="center" style="font-size: 10pt; margin-top: 18pt">46
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Vote of proxy how far valid</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">131.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>A vote given in pursuance of an instrument of proxy shall be valid, notwithstanding the
previous death of the principal or the revocation of the proxy or any
power-of-attorney under
which such proxy was signed or the transfer of the shares in respect of which the vote is
given provided no intimation in writing of the death, revocation or transfer shall have been
received at the Registered Office of the Company before the vote is given.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Time for objection to vote</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">132.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>No objection shall be made to the validity of any vote except
at the meeting
or adjourned meeting or poll at which such vote shall be tendered and every vote whether
given personally or by proxy, and not disallowed at such meeting or
poll, shall be deemed
valid for all purposes of such meeting or poll
whatsoever.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Chairman
sole judge of the validity of a vote</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">133.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Chairman of any meeting shall be the sole judge of the validity
of every vote tendered at such meeting and the Chairman present
at the taking of a poll shall be the sole judge of the validity of every
vote tendered at such poll.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>XVI. INTEREST OUT OF CAPITAL</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Payment of interest out of capital</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">134.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Where any shares are issued for the purpose of raising money to defray the expenses of
the construction of any works or buildings or the provisions of any plant which cannot be made
profitable for a lengthened period the Company may pay interest on so much of that Share
Capital as is for the time being paid up for period and subject to the conditions and
restrictions provided by Section&nbsp;208 of the said Act and may
charge the same to capital as part
of the cost of construction of the work or building or the provisions of the plant.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>XVII. DIVIDENDS AND CAPITALISATION</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>The Company in General Meeting may declare a dividend</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">135.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Company in General Meeting may declare a dividend to be paid
to the members according to their respective rights and interests in the
 profits, and may fix the time for the payment thereof.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Equal rights of shareholders</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">136.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Any share holder whose name is entered in the Register of Members
of the Company shall enjoy the rights and be subject to the same
liabilities as all other shareholders of the same class.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Power
of Directors to limit dividend</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">137.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>No larger dividend shall be declared than is recommended by the
Directors, but the Company in General Meeting may declare a
smaller dividend.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Dividends in proportion to the amount paid up.</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">138.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Unless the Company otherwise resolves, dividends shall be paid in
proportion to the amount paid up or credited as paid up on each
share, where a larger amount is paid up or credited as paid up
on some share than on others. Provided always that any capital
paid up on a share during the period in respect of which a dividend
is declared shall unless otherwise resolved be only entitled the
holder of such share to a proportionate amount of such dividend
from the date of payment.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Capital advanced on interest not to earn dividends</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Capital paid-up in advance of calls shall not confer a right to dividend or to participate
in profits.</TD>
</TR>

</TABLE>
</DIV>
<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: Helvetica,Arial,sans-serif">


<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">



</TABLE>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt">47
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Dividends out of profits only and not to carry interest what to be deemed profits</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">139.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>No dividends shall be payable except out of profits of the Company
of the year or any other undistributed profits and no dividend shall
carry interest against the Company. The declaration of the Directors
as to the amount of the net profits of the Company shall be conclusive.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Ad-interim dividend</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">140.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Directors may, from time to time, declare and pay to the members
such interim dividend as in their judgement the position of the
Company justifies.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>No member to receive dividend while indebted to the Company</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">141.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>No member shall be entitled to receive payment of any dividend in
respect of any share or shares on which the Company has a lien, or
whilst any amount due or owing from time to time to the Company, either
alone or jointly with any other person or persons, in respect of such
share or shares, or on any other account whatsoever, remains unpaid,
and the Directors may retain, apply and adjust such dividend in or
towards satisfaction of all debts, liabilities, or engagements in respect
of which the lien exists, and of all such money due as aforesaid.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Retention of dividends until completion of transfer under the transmission clause</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">142.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Directors may retain the dividends payable upon shares in respect
of which any person is under the transmission clause entitled to become
a member, or which any person under the same clause is entitled to
transfer, until such person shall become a member in respect thereof
or shall duly transfer the same.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Transfer must be </I></B><B>registered </B><B><I>to pass right to dividend</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">143.</TD>
    <TD width="4%" nowrap align="left">(a)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>A transfer of shares shall not pass the right to any dividend
declared thereon before the registration of the transfer.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Dividend to be paid to registered holder</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(b)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>No dividend shall be paid by the Company in respect of any share except to
the registered holder of such share or to his order or to his bankers and in case a share
warrant has been issued in respect of the share to the bearer of share warrant or to his
bankers.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Dividend when and how to be paid</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">144.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>All dividend shall be paid or the cheque or warrant in respect thereof
shall be posted within forty-two days of the date on which such
dividend is declared by the Company. Unless otherwise resolved by
the Directors dividends shall ordinarily be paid by cheque or warrant
sent through the post to the registered address of the member or
person entitled, or in case of joint-holders to the registered address
of that one of them first named in the register in respect of the joint
holding. 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 lost in transmission
or for any dividend lost to the member or person entitled thereto by
forged endorsements on any cheque or warrant or the fraudulent or
improper recovery thereof by any other means.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Notice of dividends</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">145.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Notice of the declaration of any dividend whether interim or otherwise,
shall be given to the members in the manner hereinafter provided for
giving of notice to member.</TD>
</TR>

</TABLE>
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>



<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: Helvetica,Arial,sans-serif">

<P align="center" style="font-size: 10pt"><!-- Folio -->48<!-- /Folio -->

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Production of share certificate when applying for
dividends</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">146.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Directors may, if they think fit, call upon the members, when
applying for dividends, to produce their share certificates to such
person or persons appointed by them in that behalf.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Any one of Joint-holders of share may receive dividends</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">147.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Any one of several persons who are registered as joint-holders of
any share may give effectual receipts for all dividends and payments
on account of dividends in respect of such share.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Uncalimed dividend when to be used by the Company</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">148.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>All dividends unclaimed for one year
after having been declared may
be invested or otherwise made use of by the Directors for the benefit
of the Company until claimed, and all dividends unclaimed till the claim
thereto becomes barred by law may be forfeited by the Directors for
benefit of the Company. The Directors may remit the forfeiture
whenever they may think proper.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Dividend payable in cash</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">149.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>No dividend shall be payable except in cash.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Provided that nothing herein shall be deemed to prohibit the capitalisation of profits
or reserves of the Company for the purpose of issuing fully paid up bonus shares or
paying up any amount for the time being unpaid on any shares held by the members of
the Company.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Dividend and call together Set off allowed</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">150.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Any General Meeting declaring a dividend may make a Call on the
Members of such amount as the meeting fixes and so that the Call
be made payable at the same time as the dividend, and the dividend
may, if so resolved by the Company in General Meeting be set off
against the Calls.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Making of call special Business</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">151.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The making of a Call (under Article&nbsp;150) shall be deemed special
business of any General Meeting which declares a dividend.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>capitalisation</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">152.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>A General Meeting may on the recommendation of the Board, direct
capitalisation of the whole or any part of the undivided profits for the
time being of the Company or the whole or any part of the Reserve
Fund or other funds of the Company including the moneys in the Share
Premium Account and the Capital Redemption Reserve Fund or the
premises received on the issue of any shares, debentures or
debenture-stock of the Company and that such sum be accordingly set
free for the purpose, (1)&nbsp;by the issue and distribution, among the holders
of the shares of the Company or any of them, in accordance with their respective rights
and interests and in proportion to the amounts paid or credited as paid up thereon, of
paid-up shares, debentures, debenture-stock bonds or other obligations of the Company,
or (2)&nbsp;by crediting any shares of the Company which may have been issued and are not
fully paid up, in proportion to the amounts paid or credited as paid up thereon
respectively, with the whole or any part of the same. The Directors shall give effect to
such resolution and apply such portion of the profits or Reserve Fund or premiums as may
be required for the purpose of making payment in full at par for the shares, debentures,
debenture-stock, bonds, or other obligations of the Company so distributed or (as the
case may be) for the purpose of paying, in whole or in part the amount remaining unpaid
on the ordinary shares which</TD>
</TR>

</TABLE>
</DIV></DIV>
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: Helvetica,Arial,sans-serif">
<P align="center" style="font-size: 10pt"><!-- Folio -->49<!-- /Folio -->

<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">


<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>may have been issued and are not fully paid up. provided that no such distribution or
payment shall be made unless recommended by the Board. Provided, however, that the money in
the Share Premium Account and the Capital Reserve Fund or the premiums received on the issue
of any shares, debentures or debenture-stock of the Company shall only be applied in the
paying up of unissued shares to be issued to members of the Company as fully paid bonus shares. For the purposes aforesaid the Board shall make all appropriations and applications of
the moneys resolved to be capitalised as aforesaid and allotments and issues of fully paid shares or debentures&#146;, if any. Where any difficulty arises in respect of such distribution or
payment, the Board may settle the same as they think expedient, and in particular they may issue fractional certificates and generally may make such arrangements for the acceptance,
allotment and sale of such shares, debentures, debenture-stock, bonds or other obligations and fractional certificates or otherwise as they may think fit, and they may make cash payment to
any holders of shares on the footing of the value so fixed in order to adjust rights may vest any shares, debentures, debenture-stock, bonds, or other obligations in trustees upon such
trust for adjusting such rights as may, seem expedient to the Board. In cases where some of the shares of the Company are fully paid and other are partly paid only such capitalisation
may be effected by the distribution of further shares in respect of
 the other fully paid shares, and by crediting the partly paid shares with the whole or part of the unpaid liability
thereon, but so that as between the holders of the fully paid shares, and the partly paid shares the sums so applied in the payment of such further shares and in the extinguishment or
diminution of the liability of the partly paid shares shall be so applied pro rata in proportion to the amounts then already paid or credited as paid on the existing fully paid or
and partly paid shares respectively. When deemed requisite, a proper contract shall be filed
in accordance with Section&nbsp;75 of the said Act, and the Board may appoint any person to sign
such contract on behalf of the holders of the shares of the company which shall have been
issued prior to such capitalisation and such appointment shall be effective.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>For the purposes above set out the Company may apply the Share Premium Account subject to
the provisions of Section&nbsp;78(2) of the said Act and the Capital Redemption Reserve Fund
subject to the provisions of Section&nbsp;80(5) of the said Act.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><b>XVII. ACCOUNTS</b>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Accounts</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">153.</TD>
    <TD width="6%">(1)</TD>
    <TD>The Directors shall keep or cause to be kept at the Registered Office of the
Company or at such place in India as the Board thinks fit proper books of accounts in respect
of:</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="10%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(a)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>all sums of money received and expended by the Company, and the matters in respect of which the receipt
and expenditure take place;
</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="10%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(b)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>all sales and purchase of goods by the Company; and</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="10%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(c)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>the assets and liabilities of the Company.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(2)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Proper books of account shall also be kept at each branch office of the
Company, whether in or outside India, relating to the</TD>
</TR>


</TABLE>
</DIV></DIV>
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: Helvetica,Arial,sans-serif">
<P align="center" style="font-size: 10pt"><!-- Folio -->50<!-- /Folio -->

<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">


<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>transactions of that office and proper summarised returns made up to dates at intervals
of not more than three months shall be sent by each branch office to the Company at
its Registered Office of the Company or the other place referred to in clause (1)&nbsp;hereof.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(3)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The books of account referred to in clause (1)&nbsp;and (2)&nbsp;shall be such
books as are necessary to give a true and fair view of the state of
affairs of the Company or such branch office and to explain its
transaction.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(4)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The books of accounts and other Books and Papers shall be open
to inspection by any Directors during business hours.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(5)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Directors shall comply in all respects with Sections&nbsp;209 to
220 of the said Act and any statutory modifications thereof.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Inspection to members when allowed</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">154.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Directors shall, from time to time, determine whether and to what
extent, and at what times and places, and under what conditions or
regulations, the accounts and books of the Company, or any-of them,
shall be open to the inspection of the members not being Directors;
and no member (not being a Director) shall have any right of
inspection of any account or book or document of the Company except
as conferred by law or authorised by the Directors, or by a resolution
of the Company in General Meeting.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Balance Sheet and Profit and Loss
Account to be laid before the members</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">155.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Subject to Section&nbsp;210 of the Act at every Annual General Meeting of the
Company the Directors shall lay before the Company a Balance Sheet and
Profit and Loss Account for the period since the preceding account made
up to date not earlier than the date of the meeting by more than six months
unless an extension of time has been granted by the Registrar under Section
66(1)(c) of the said Act. Such Balance Sheet and Profit and Loss Account
may be for a period of one year or less or more than one year, but such
period shall not exceed fifteen months unless special permission is granted
by the Registrar under Section&nbsp;210(4) of the said Act.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Contents of Balance Sheet and Profit and Loss Account</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">156.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Balance Sheet shall give a true and fair view of the state of
affairs of the Company at the end of the period of the account.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Profit and Loss Account shall give a true and fair view of the profit and loss of
the Company for the period of account.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Balance Sheet and Profit and Loss Account shall comply with the provisions 211 and
212 of the said Act.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Balance Sheet and Accounts and Report how to be signed</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">157.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Balance Sheet and Profit and Loss Account shall be signed in
accordance with the provisions of Section&nbsp;215 of the said Act.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Profit and Loss Account shall be annexed to the Balance Sheet and Auditors&#146; Report
shall be attached thereto.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Directors shall make out and attach to every, Balance Sheet laid before the Company in
General Meeting a Report of the Board of Directors which shall comply with the
requirements of and shall be signed in the manner provided by Section&nbsp;217 of the said Act.</TD>
</TR>


</TABLE>
</DIV></DIV>
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: Helvetica,Arial,sans-serif">
<P align="center" style="font-size: 10pt"><!-- Folio -->51<!-- /Folio -->

<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">



</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Right of Members to copies of Balance Sheet and Auditors&#146; Report</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">158.</TD>
    <TD width="6%">&nbsp;(1)</TD>
    <TD>A copy of every Balance Sheet (including the Profit and Loss Account, the
Auditors&#146; Report and every other document required by law to be annexed or attached, as the
case may be, to the Balance Sheet) which is to be laid before the Company in General Meeting
shall not less than twenty one days before the date of meeting be sent to every member of the
Company and to other persons entitled thereto under the provisions of Section&nbsp;219 of the said
Act.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>If the copies of the documents aforesaid are sent less than twenty one days before the
date of the meeting they shall, notwithstanding that fact, be deemed to have been duly sent if
it is so agreed by all the members entitled to vote at the meeting.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(2)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Any member or holder of debentures of the Company whether he is or is not entitled to
have copies of the Company&#146;s Balance Sheet sent to him, shall on demand, be entitled to be
furnished without charge, and any person from whom the Company has accepted a sum of money by
way of deposit shall on demand accompanied by the payment of a fee of one rupee, be entitled
to be furnished with a copy of the last Balance Sheet of the Company and every documents
required by law to be annexed or attached, thereto, including the Profit and Loss Account and
the Auditor&#146;s report.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Copies of
Balance Sheet etc. to be filed</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">159.</TD>
    <TD width="6%">&nbsp;(1)</TD>
    <TD>After the Balance Sheet and Profit and Loss Account have been
laid before the Company at the Annual General Meeting the
Company shall file with the Registrar at the same time as the
copy of the Annual Return referred to in Section&nbsp;161 of the
said Act, three copies of the Balance Sheet and Profit and Loss
Account signed in the manner provided in Section&nbsp;220 of the
said Act together with three copies of all documents which are
required by the said Act to be annexed or attached to such
Balance Sheet or Profit and Loss Account.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(2)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>If the Annual General Meeting before which a Balance Sheet is
laid as aforesaid does not adopt the Balance Sheet, statement
of that fact and of the reasons therefore shall be annexed to the Balance Sheet and to the
copies thereof required to be filed with the Registrar.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>When accounts to be deemed finally settled</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">160.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Every account when audited and approved by a General Meeting shall be conclusive,
except as regards any error discovered therein within three months next after the approval
thereof. Whenever any error is discovered within the period, the account shall forthwith be
corrected and thenceforth shall be conclusive.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>XIX. AUDIT</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Accounts when to be audited</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">161.</TD>
    <TD width="6%">&nbsp;(a)</TD>
    <TD>The correctness of the Profit and Loss Account and Balance Sheet shall be
ascertained by one or more Auditor or Auditors.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Audit of Branch office Accounts</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(b)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Where the Company has a branch office, the Account of that office shall, unless the
Company in General Meeting decides, otherwise, be audited by a person qualified for
appointment as Auditor of the Company under Section&nbsp;226 of the said Act, or where the branch
office is situated in a country outside India</TD>
</TR>

</TABLE>
</DIV></DIV>
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: Helvetica,Arial,sans-serif">
<P align="center" style="font-size: 10pt"><!-- Folio -->52<!-- /Folio -->

<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">


<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>either by a person qualified as aforesaid or by an accountant duly qualified to act as an
Auditor of the accounts of the branch office in accordance with the laws of that country.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><i>Appointment of Auditor</i></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">162.</TD>
    <TD width="6%">&nbsp;&nbsp;(1)</TD>
    <TD>The Company shall at each Annual General Meeting appoint an Auditor or Auditors
to hold office from the conclusion of that meeting until the conclusion of the next Annual
General Meeting.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(2)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>At any Annual General Meeting, a retiring Auditor, by whatsoever authority appointed,
shall be re-appointed, unless:</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="10%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(a)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>he is not qualified for re-appointment;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="10%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(b)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>he has given the Company notice in writing of his
unwillingness to be re-appointed;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="10%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(c)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>a resolution has been passed at that meeting appointing
somebody instead of him or providing expressly that he shall
not be re-appointed; or</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="10%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(d)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>where notice has been given of an intended resolution to
appoint some person or persons in the place of a retiring
Auditor and by reason of the death, incapacity of
disqualification of that person or of all these persons, as the
case may be, the resolution cannot be proceeded with.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(3)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Where at any Annual General Meeting no Auditors are appointed or re-appointed, the Central
Government may appoint a person to fill the vacancy. The
Company shall within seven days of the Central Government&#146;s power under this clause
becoming exercisable, give notice of that fact to the Central Government.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(4)</TD>
    <TD width="6%">&nbsp;&nbsp;(a)</TD>
    <TD>The Board may fill any casual vacancy in the office of an
Auditor; but while any such vacancy continues, the remaining Auditor or Auditors, if any,
may act;</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="10%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Provided that where such vacancy is caused by the resignation of an Auditor,
the vacancy shall only be filled by the Company in General Meeting.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="10%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(b)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Any auditor appointed in a Casual vacancy shall hold office
until the conclusion of the next Annual General Meeting.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(5)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Any Auditor may be removed from Office before the expiry of his
term only by the Company in General Meeting after obtaining the
previous approval of the Central Government in that behalf.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><i>Auditors remuneration</i></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(6)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Remuneration of the Auditors of the Company :</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="10%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(a)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>in the case of an Auditor appointed by the Board or the
Central Government, may be fixed by the Board or the
Central Government, as the case may be; and</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="10%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(b)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>subject to sub-clause (a)&nbsp;shall be fixed by the Company in
General Meeting or in such manner as the Company in
General Meeting may determine.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="10%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>For the purpose of this sub-clause any sums paid by the Company in respect of the
Auditors expenses shall be deemed to be included in the expression &#147;remuneration&#148;.</TD>
</TR>

</TABLE>
</DIV>
</DIV>
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: Helvetica,Arial,sans-serif">
<P align="center" style="font-size: 10pt"><!-- Folio -->53<!-- /Folio -->

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Special Notice regarding
Auditors</i></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">163.</TD>
    <TD width="6%">&nbsp;&nbsp;(1)</TD>
    <TD>Special Notice as provided by Section&nbsp;190 of the said Act shall
be required for a resolution at an Annual General Meeting
appointing as Auditor a person other than a retiring auditor, or
providing expressly that a retiring Auditor shall not be
re-appointed.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(2)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>On Receipt of notice of such resolution the Company shall duly comply with the
provisions of Section&nbsp;225 of the said Act.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Qualifications and
disqualification of Auditors</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">164.</TD>
    <TD width="6%">&nbsp;&nbsp;(1)</TD>
    <TD>An Auditor must hold the necessary qualifications and be qualified
for appointment as provided in Section&nbsp;226 of the said Act.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(2)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>If an Auditor becomes subject, alter his appointment, to any of the
disqualifications specified in sub-sections (3)&nbsp;and (4)&nbsp;of the said section, he
shall be deemed to have vacated his office as such.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Powers and rights of auditors</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">165.</TD>
    <TD width="6%">&nbsp;&nbsp;(1)</TD>
    <TD>Every Auditor of the Company shall have a right of access at
all times to the books and accounts and vouchers of the Company, whether kept at
the head office of the Company or elsewhere and shall be entitled to require
from the officers of the Company such information and explanation as the Auditor may
think necessary for the performance of his duties as Auditor.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(2)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Where the accounts of any branch office are not audited, the
Company&#146;s Auditor shall be entitled to visit the branch office,
if he deems it necessary to do so for the performance of his
duties as Auditor, and shall have a right of access at all times
to the books and accounts and vouchers of the Company
maintained at the branch office.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Right of Auditor to attend General Meeting</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(3)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>All notice of and other communications relating to any General
Meeting of the Company which any member of the company is entitled to have sent to him
shall also be forwarded to the Auditor of the Company and the Auditor shall be entitled to
have notice of and attend any General Meeting and to be heard at any General Meeting which
he attends on any part of the business which concerns him as Auditor.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Duties of Auditors</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">166.</TD>
    <TD width="6%">&nbsp;&nbsp;(1)</TD>
    <TD>The Auditor shall make a Report to the members of the Company on the Accounts
examined by him, and on every Balance Sheet and Profit and Loss Account and on every other
document declared by the said Act to be part of or annexed to the Balance Sheet or Profit and
Loss Account, which are laid before the Company in General Meeting during his tenure of
office. Such Report shall comply with the provisions of Section&nbsp;227(2) of the said Act.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(2)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Such Report and other documents of the Company required by law to be signed or
authenticated by the Auditors, shall be signed or authenticated in the manner provided by
Section&nbsp;229 of the said Act.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Reading and Inspection of Auditors&#146; Report</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">167.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Auditors&#146; Report shall be read before the Company in General Meeting and shall
be open to inspection by any member of the Company.</TD>
</TR>

</TABLE>
</DIV>
</DIV>
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
 <DIV style="font-family: Helvetica,Arial,sans-serif">
<P align="center" style="font-size: 10pt"><!-- Folio -->54<!-- /Folio -->

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>XX. DIRCTORS, THEIR QUALIFICATION AND REMUNERATION</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><i>Number of Directors</i></B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>(Amended vide Special
Resolution Passed by Members at the Annual General Meeting held on
July&nbsp;17, 2008)</B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">168.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>&#147;The number of Directors shall not be less than four and not more than fifteen
Directors or such higher number of Directors as may be permitted under the Companies Act,
1956 and/or by the Central Government, from time to time&#148;.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><i>Directors</i></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">169.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>At the time of adoption of these Articles the Directors shall be :</TD>
</TR>

</TABLE>
</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="20%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="50%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left" valign="top"><b>1. Shri. MAHOMED HUSSEIN RASHAM PREMJI</b>
</TD>
    <TD>&nbsp;</TD>
    <TD rowspan="8" align="left" valign="top"><IMG src="f42472f4247201.gif" alt="(-s- V.Ramachandran)"></TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><b>2. Shri. RATILAL MULJI GANDHI</b></TD>

    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><B>3. Shri. RATANSEY KARSONDAS VISSANJI</B></TD>
    <TD>&nbsp;</TD>

</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><B>4. Shri. MOHAMED HUSSIAN R. CHINOY</B></TD>
    <TD>&nbsp;</TD>

</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><B>5. Shri. HAMIR KARSONDAS VISSANJI</B></TD>
    <TD>&nbsp;</TD>

</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><B>6. Shri. PRATAP BHOGILAL</B></TD>
    <TD>&nbsp;</TD>

</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><B>7. Shri. SHANTILAL L. THAR</B></TD>
    <TD>&nbsp;</TD>

</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><B>8. Shri SHIAVAX R. VAKIL</B></TD>
    <TD>&nbsp;</TD>

</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Directors
of Mortgage Debentures</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">170.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>If and when the Company shall issue debentures the holders of
such debentures, or if and when the Company shall create a
mortgage of any property, the mortgagee or mortgagees to whom
such property shall be mortgaged, may have the right to appoint
and nominate and from time to time remove and re-appoint a Director or Directors, in
accordance with the provisions of the Trust
Deed securing the said debentures, or the deed creating such mortgages, as the case
may be. A Director so appointed under this Article, is herein referred to as &#147;The
Debenture Director&#148; and the term &#147;Debenture Director&#148; means a Director for the time being in
office under the Article, and he shall have all the rights and
privileges of an ordinary Director of the Company, except in so far as is otherwise
provided for herein or by the Trust Deed securing the Debentures or the deed creating the
mortgage, as the case may be.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><i>Special Director</i></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">171.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Any deed for securing loans by the Company from financial
corporations may be so arranged to provide for the appointment
from time to time by the lending financial corporation of some
person or persons to be a director or directors of the Company
and may empower such lending financial corporation from time
to time to remove and re-appoint any Director so appointed. A
Director appointed under this Article is herein referred as &#147;Special
Director&#148; and the term &#147;Special Director&#148; means any director for
time being in office under this Article. The Special Director shall
not be bound to hold any qualification shares and shall not be
liable to retire by rotation or be removed by the Company. The deed aforesaid
may contain ancillary provisions as may be arranged between the Company and the
lending corporation and all such provisions shall have effect notwithstanding
any of the other provisions herein contained.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The provisions of this Article shall be subject to the provision of
Section&nbsp;255 of the Act.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Qualification of a Director</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">172.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>No Director of the Company be required to hold any qualification shares.</TD>
</TR>

</TABLE>
</DIV></DIV>
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: Helvetica,Arial,sans-serif">
<P align="center" style="font-size: 10pt"><!-- Folio -->55<!-- /Folio -->

<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">



</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Register of Directors etc. and of Directors Shareholdings</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">173.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Directors shall arrange to maintain at the Registered office of the Company a Register
of Directors, Managing Agents, if any, Secretary and Treasurers if any, etc., containing the
particulars and in the from prescribed by Section&nbsp;303 of the said Act and a Register of
Director&#146;s shareholding as required by Section&nbsp;307 of the said Act. It shall be the duty of
every Director and other persons regarding whom particulars have to be maintained in such
Registers to disclose to the Company any matters relating to himself as may be necessary to
comply with the provisions of the said sections.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Directors&#146; fee for attending Meeting</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">174.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The remuneration of every Directors, inclusive of the Alternate Director if any, Special
Director, if any, and the Debenture Director, if any, shall be such amount as may be fixed by
the Directors, not exceeding Rupees Five Hundred for every meeting of the Board or of a
Committee or such other amount as may be prescribed by Central Government.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">175.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Subject to the provisions of Section&nbsp;309 and 310 of the said Act :</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Additional Remuneration for Services</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(a)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Any one or more of the Directors shall be paid such additional remuneration
as may be fixed by the Directors for services rendered by him or them and any one or
more of the Directors shall be paid further remuneration it any as the Company in
General Meeting or the Board of Directors shall from time to time determine. Such
remuneration and/or additional remuneration may be paid by way of salary or commission
on net profits or turnover or by participation in profits or by way of perquisites or
in any other manner or by any or all of those modes.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Additional Remuneration for extra Services</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(b)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>If any director, being willing shall be called upon to perform extra services,
or to make any special exertion in going or residing out of Bombay or otherwise for
any of the purposes of the Company, the Company in General Meeting or the Board of
Directors shall, subject as aforesaid, remunerate such Director or where there is more
than one such Director all or such of them together either by a fixed sum or by a
percentage of profits or in any other manner as may be determined by the Directors
and such remuneration may be either in addition to or in substitution for the
remuneration above provided.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Remuneration of Committee</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">176.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Directors may from time to time fix the remuneration to be paid
to any member or members of their body constituting a committee
appointed by the Directors in terms of these articles not exceeding Rs.
250 per meeting attended by him in addition to allowance under Article
174 and may pay the same.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">176A.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Board of Directors may allow and pay to any Director fair compensation for his
travelling and other expenses incurred in connection with the business of the Company
including attendance at meeting of the Board or Committee thereof.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>XXI. APPOINTMENT AND ROTATION OF DIRECTORS</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Appointment of Directors</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">177.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>A person shall not be capable of being appointed Director of the
Company, if :-</TD>
</TR>

</TABLE>
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio --><!-- /Folio -->
</DIV>



<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: Helvetica,Arial,sans-serif">

<P align="center" style="font-size: 10pt"><!-- Folio -->56<!-- /Folio -->

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(a)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>he has been found to be unsound mind by court of competent jurisdiction and the
finding is in force;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(b)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>he is an undischarged insolvent;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(c)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>he has applied to be adjudicated as an insolvent and his application is pending;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(d)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>he has been convicted by a Court in India of any offence involving moral turpitude and
sentenced in respect thereof to imprisonment for not less than 6&nbsp;months, and a period of five years has not elapsed from
the date of expiry of the sentence; unless such disqualification is removed by the
Central Government;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(e)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>he has not paid any call in respect of shares of the Company
held by him, whether alone or jointly with others and six months
have elapsed from the last day fixed for the payment for the call;
unless such disqualification is removed by the Central Government; or</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(f)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>an order disqualifying him for appointment as Director has been passed by a Court in
pursuance of Section&nbsp;203 of the said Act and is in force, unless the leave of the Court
has been obtained for his appointment in pursuance of that section.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt">
<B><I>Appointment of Directors and proportion to retire by rotation</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">178</TD>
    <TD width="4%" nowrap align="left">(1)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>No less than two-thirds of the total number of Directors of the Company shall:</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="10%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(a)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>be persons whose period of office is liable to determination by
retirement of Directors by rotation; and</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="10%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(b)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>save as otherwise expressly provided in the said Act, be
appointed by the Company in General Meeting.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(2)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The remaining Directors of the Company shall also be appointed by the Company in
General Meeting except to the extent that the Articles otherwise provide or permit.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Provision regarding Directors retiring by rotation</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">179</TD>
    <TD width="4%" nowrap align="left">(1)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Subject to the provisions of Section&nbsp;256 of the Act at every Annual General Meeting,
one-third of such of the Directors for the time being as are liable to retire by rotation, or
if their number is not three or a multiple of three, then the number nearest to one-third,
shall retire from office.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(2)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Directors to retire by rotation at every Annual General Meeting shall be those
who have been longest in office since their last appointment, but as between persons who
become Directors on the same day, those who are to retire shall, in default of and subject
to any agreement among themselves, be determined by lot.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(3)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>A retiring Director shall be eligible for re-election.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent"></TD>
    <TD width="5%" nowrap align="left">(4)</TD>
    <TD width="5%">(a)</TD>
    <TD>At the Annual General Meeting at which a Director retires
as aforesaid, the Company may fill up the vacancy by appointing the retiring
Director or some other person thereto.
</TD>
</TR>
</TABLE>
</DIV></DIV>
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: Helvetica,Arial,sans-serif">
<P align="center" style="font-size: 10pt"><!-- Folio -->57<!-- /Folio -->
<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">


</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="10%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(b)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>if the place of the retiring Director is not so filled up and the meeting has
not expressly resolved not to fill the vacancy, the meeting shall stand adjourned till
the same day in the next week, at the same time and place, or if that day is a public
holiday, till the next succeeding day which is not a public holiday, at the same time
and place.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="10%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(c)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>If at the adjourned meeting also, the place of the retiring Director is not
filled up and that meeting also has not expressly resolved not to fill the vacancy,
the retiring Director shall be deemed to have been re- appointed at the adjourned
meeting unless:-</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="15%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(i)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>at the meeting or at the previous meeting a resolution for the
re-appointment of such Director has been put to the meeting and lost;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="15%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(ii)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>the retiring Director has, by a notice in writing addressed to
the Company or its Board of Directors, expressed his unwillingness to be so re-
appointed;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="15%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(iii)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>he is not qualified or is disqualified for appointment;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="15%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(iv)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>a resolution, whether special or ordinary, is required for his
appointment or re-appointment by virtue of any provisions of the said Act; or</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="15%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(v)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>the proviso to sub-section (2)&nbsp;of Section&nbsp;263 or Article&nbsp;184(2)
is applicable to the same.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Removal of Director</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">180.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Company may by an ordinary resolution remove any Director (not being a Director
appointed by the Central Government in pursuance of Section&nbsp;408 of the Act) in accordance
with the provisions of Section&nbsp;284 of the Act. A Director so removed shall not be
re-appointed a Director by the Board of Directors.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Company may fill up a Vacancy</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">181.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Subject to the provisions of Section&nbsp;261 of the said Act, the Company may at any Annual
General Meeting fill up the Office of any Director vacated during the previous year and not
already filled up.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Notice of candidature when to be given</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">182.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>A person who is not a retiring Director shall subject to the provisions of the said Act, be
eligible for appointment to the Office of Director at any General Meeting, if he or some
member intending to propose him has, not less than fourteen days before the meeting, left at
the Registered Office of the Company a notice in writing under his hand signifying his
candidature for the office of Directors or the intention of such member to propose him as a
candidate for the office as the case may be.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Consent of candidate for Directorship to be filed with the Registrar</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">183.</TD>
    <TD width="4%" nowrap align="left">(1)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Every person (other than a Director retiring by rotation
or otherwise or a person who has left at the office of the Company a notice under
Section&nbsp;257 signifying his candidature for the office of a Director) proposed as a
candidate for the office of a Director shall sign and file with the Company, his
consent in writing to act as a Director, if appointed.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(2)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>A person other than:-</TD>
</TR>

</TABLE>
</DIV>
</DIV>
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>


<DIV style="font-family: Helvetica,Arial,sans-serif">
<P align="center" style="font-size: 10pt"><!-- Folio -->58<!-- /Folio -->

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="10%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(a)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>a Director re-appointed alter retirement by rotation or immediately on
the expiry of his term of office or</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="10%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(b)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>an Additional of Alternate Director, or a person filling a casual
vacancy in the office of a Director under Section&nbsp;262 of the Act, appointed as a
Director or re-appointed as an Additional or Alternate Director, immediately on
the expiry of his term of office; or</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="10%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(c)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>a person named as a Director of the Company under its Articles as
first registered, shall not act as a Director of the Company unless he has
within thirty days of his appointment signed and filed with the Registrar his
consent in writing to act as such director.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Appointment of Directors </I></B><B><i>to </i></B><B><I>be voted </I></B>
<B>on </B><B><I>individually</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">184.</TD>
    <TD width="4%" nowrap align="left">(1)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>At a General Meeting of the Company a motion shall not be made for the appointment of
two or more persons as Directors of the Company by a single resolution, unless a
resolution that is shall be so made has first been agreed to by the meeting without any vote
being given against it.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(2)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>A resolution moved in contravention of clause (1)&nbsp;shall be void, whether or
not objection was taken at the time to its being so moved; provided that where a
resolution so moved is passed, no provision for the automatic re-appointment of
retiring Directors in default of another appointment, shall apply.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(3)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>For the purpose of this Article a motion for approving a person&#146;s appointment,
or for nominating a person for appointing shall be treated as a motion for his
appointment.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Directors may appoint additional Directors</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">185.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Directors shall have power at any time and from time to time, to appoint one or more
additional Directors provided that the total number of directors shall not thereby exceed the
maximum number fixed by Article&nbsp;168. Each such Additional Director shall hold office only up
to the date of the next following Annual General Meeting, but shall be eligible for
appointment by the Company at that meeting as a Director.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Filling up of casual vacancies</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">186.</TD>
    <TD width="4%" nowrap align="left">(1)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>If the office of any Director appointed by the Company
in General Meeting is vacated before his term of office expires in the normal course,
the resulting casual vacancy may be filled by the Board of Directors at a meeting of
the Board.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(2)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Any person so appointed shall hold office only up to the date up to which the
Director in whose place he is appointed would have held office if it has not been
vacated as aforesaid.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Appointment of Alternate Director</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">187.</TD>
    <TD width="4%" nowrap align="left">(1)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The provisions of Section&nbsp;313 of the Act shall apply
and the Board of Directors may appoint an Alternate Director to act for a Director
(hereinafter called &#147;the
</TD>
</TR>
</TABLE>
</DIV></DIV>
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: Helvetica,Arial,sans-serif">
<P align="center" style="font-size: 10pt"><!-- Folio -->59<!-- /Folio -->
<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">


</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Original Director&#148;) during his absence for a period of not less than three months
from the State in which the meetings are ordinarily held.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Whenever any Director appointed under Section&nbsp;261 of the said Act is likely to be
absent from the State in which the meetings are taking place for a period of not
less than three months the Board of Directors shall be entitled to appoint an
Alternate Director in his place, and such Alternate Director may be a person to whom
the said Section&nbsp;261 applies.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(2)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>An Alternate Director shall be entitled to notice of meetings of the
Directors, and to attend and vote thereat accordingly, but he shall not require any
qualification whilst the Original Director holds the necessary qualification.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(3)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>An Alternate Director shall vacate office if and when the Original Director
returns to the State in which the
meetings are ordinarily held,</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(4)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>If the terms of office of the Original Director is determined before he so
returns to the State aforesaid any provision for the automatic re- appointment of
retiring Directors in default of another appointment shall apply to the Original
Director and not to the Alternate Director.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(5)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>An Alternate Director may be removed by the Board of Directors which may
appoint another Alternate Director in his place.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Directors may act notwithstanding vacancy</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">188.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The continuing Directors may act notwithstanding any vacancy
in their body, but, if and so long as their number is reduced
below three, the continuing Directors may act for the purpose
of increasing the number of Directors to the said number, or
of summoning a General Meeting of the Company, but for no
other purpose.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>XXII. VACATION OF OFFICE BY DIRECTORS</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Resignation of Directors</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">189.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>A Director may at any time resign from his office upon giving notice in writing to the
Company of his intention so to do, and thereupon his office shall be vacated.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Removal of Directors</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">190.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Subject to the provisions of Section&nbsp;284 of the said Act, the Company may, by Ordinary
Resolution, remove a Director before the expiry of his period of office. A vacancy created by
the removal of a Director under this Article may be filled by the appointment of another in
his stead in the manner provided in the said section.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">191.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>A Director shall vacate office if any office or place of profit under the Company or a
subsidiary thereof is held in contravention of the provisions of Section&nbsp;314(1) of the said
Act with effect from the first day on which the contravention occurs.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Vacation of office by Directors</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">192.</TD>
    <TD width="4%" nowrap align="left">(1)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Subject to the provisions of Section&nbsp;283 of the said Act
the Office of a Director shall be vacated if:-</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">



</TABLE>
</DIV></DIV>
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: Helvetica,Arial,sans-serif">
<P align="center" style="font-size: 10pt"><!-- Folio -->60<!-- /Folio -->

<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">



</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="10%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(a)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>he fails to obtain within the time specified in Article&nbsp;172 or at any time
thereafter ceases to hold the share qualification, if any required of him by
these Articles;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="10%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(b)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>he is found to be of unsound mind by a Court of competent jurisdiction;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="10%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(c)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>he applies to be adjudicated an insolvent;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="10%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(d)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>he is adjudged an insolvent;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="10%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(e)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>he is convicted by a Court in India of any offence and is sentenced in
respect thereof to imprisonment for not less than 6&nbsp;months;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="10%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(f)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>he fails to pay any call in respect of shares of the Company held by him
whether alone or jointly with others within six months from the last date fixed
for the payment of the call;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="10%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(g)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>he absents himself from three consecutive meetings of the Board of
Directors, or from all meetings of the Board for a continuos period of three
months, whichever is longer, without obtaining leave of absence from the Board.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="10%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(h)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>he, or any firm in which he is a partner or any
private company of which he is a Director, accepts a loan, or any guarantee
or security for a loan, from the Company in contravention of Section&nbsp;295 of
the said Act;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="10%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(i)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>he acts in contravention of Section&nbsp;299 of the said Act;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="10%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(j)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>he becomes disqualified by an order of Court under Section&nbsp;203 of the
said Act;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="10%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(k)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>he is removed in pursuance of Section&nbsp;284 of the said Act (Article&nbsp;190);
or having been appointed a director by virtue of holding any office or other
employment in the Company, or as a nominee of the managing agent of the Company, he
ceases to hold such office or other employment in the Company or, as the case may
be, the Managing Agency come to an end;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="10%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(I)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>he resigns his office by notice in writing given to the Company.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(2)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Notwithstanding anything in clause (d) (e)&nbsp;and (j)&nbsp;of sub-clause (1), the
disqualification referred to in those clauses shall not take effect:</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="10%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(a)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>for thirty days from the date of the adjudication;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="10%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(b)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>where any appeal or petition is preferred within the thirty days
aforesaid against the adjudication, sentence or conviction resulting in the
sentence, or order until the expiry of seven</TD>
</TR>

</TABLE>
</DIV>
</DIV>
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: Helvetica,Arial,sans-serif">
<P align="center" style="font-size: 10pt"><!-- Folio -->61<!-- /Folio -->

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="10%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>days from the date on which such appeal or petition is disposed of; or</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="10%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(c)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>where within the seven days aforesaid any further appeal or
petition is preferred in respect of the adjudication, sentence conviction or
order and the appeal or petition if allowed would result in the removal of the
disqualification until such further appeal for petition is disposed of.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>XXIII. PROCEEDINGS OF DIRECTORS</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Meeting </I></B><B>of </B><B><I>Directors</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">193.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>A Meeting of the Board of Directors shall be held at least once in every three months and at
least four such meetings shall be held in every year. The Directors may meet together for the
despatch of business, adjourn and otherwise regulate their meeting and proceedings, as they
think fit, and may determine the quorum necessary for the transaction of business.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Notice of Meetings</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">194.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Notice of every meeting of the Board of Directors of the Company shall be given in writing
to every Director for the time being in India, and at his usual address in India to every
other Director.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Quorum for Meetings</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">195.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The quorum for a meeting of the Board shall be one-third of its total strength any fraction
contained in that one third being rounded off as one), or two directors whichever is higher.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Provided that where at any time the number of interested Directors exceeds or is equal to
two-thirds of the total strength, the number of the remaining Directors, that is to say,
the number of the Directors who are not interested shall be the quorum during such time.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The expressions &#147;total strength&#148; and &#147;interested Director&#148; shall have the meanings given
in Section&nbsp;287(l) of the said Act.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Procedure of meeting adjourned for want of Quorum</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">196.</TD>
    <TD width="4%" nowrap align="left">(1)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>If a meting of the Board could not be held for want of
a quorum then the meeting shall automatically stand adjourned till the same day in
the next week, at the save time and place, or if that day is a public holiday, till
the next succeeding day which is not a public holiday at the same time and place.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(2)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The provisions of Article&nbsp;193 shall not be deemed to have been contravened
merely by reason of the fact that a meeting of the Board which has been called in
compliance with the terms of that Article could not be held for want of a quorum.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Power </I></B><B>of </B><B><I>Quorum</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">197.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>A meeting of the Directors for the time being at which a
quorum is present shall be competent
to exercise all or any of the authorities, powers and directions by law or under the Articles
and regulations for the time being vested in or exercisable by the Directors generally.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>When
meetings to be convened</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">198.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>A Director may, at any time, and the Managing Agents, if any upon the requisition of a
Director, shall convene a meeting of the Directors.</TD>
</TR>

</TABLE>
</DIV>
</DIV>
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: Helvetica,Arial,sans-serif">
<P align="center" style="font-size: 10pt"><!-- Folio -->62<!-- /Folio -->

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Question how decided</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">199.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Questions arising at any meeting of the Directors shall be decided by a majority of
votes, and in case of an equality of votes, the Chairman thereat shall have a second or
casting vote.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Chairman of Directors&#146; meetings</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">200.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Directors may elect a Chairman of their meetings, and determine the period for which he
is to hold office, and unless otherwise determined the Chairman shall be elected annually. If
no Chairman is elected, or if at any meeting the Chairman is not present within five minutes
of the time appointed for holding the same, or is unwilling to preside, the Directors present
may choose one of their member to be the Chairman of such meeting.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Directors may appoint Committees</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">201.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Subject to the provisions of Section&nbsp;292 of the said Act, the Directors may delegate any of
their powers, other than the power to borrow and to make calls, to issue debentures and any
other powers which by reason of the provisions of the said Act cannot be delegated to
committees consisting of such member or members of their body as they
may think fit and they
may from time to time revoke and discharge any such Committee either wholly or in part, and
either as to persons or purposes. Every Committee so formed shall, in the exercise of the
powers so delegated conform to any regulations that may from time to time be imposed on it
by the Directors, and all acts done by any such Committee in conformity with such
regulations and in fulfilment of the purpose of their appointment, but not otherwise, shall
have the like force and effect as if done by the Board.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Meeting and proceedings of Committee how governed</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">202.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The meetings and proceedings of any such Committee
consisting of two or more members shall be governed by
the provisions herein contained for regulating the meetings
and proceedings of the Directors, so far as the same are
applicable thereto, and are not superseded by the express
terms of the appointment of any such Committee, or by any regulations made by the
Directors.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Resolutions by circular</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">203.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>A resolution not being a resolution required by the said Act or otherwise to be passed at a
meeting of the Directors, may be passed without any meeting of the Directors or of a
committee of Directors provided that the resolution has been circulated in draft, together
with the necessary papers, if any, to all the Directors, or to all the members of the
Committee then in India (not being less in number than the quorum fixed for a meeting of he
Board or Committee, as the case may be, and to all other Directors or members of the Committee at
their usual address in India, and has been approved by such of the Directors as are then in
India, or by a majority of such of them as are entitled to vote on the resolution.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Validity of acts of Directors</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">204.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>All acts done by a person as a Director shall be valid, notwithstanding that it may be
afterwards discovered that his appointment was invalid by reason of any defect or
disqualification or had terminated by virtue of any provision contained i the said Act or in
these Articles. Provided that this Article shall not give validity to acts done by a Director
after his appointment has been shown to the company to be invalid or to have terminated.</TD>
</TR>

</TABLE>
</DIV>
</DIV>
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: Helvetica,Arial,sans-serif">
<P align="center" style="font-size: 10pt"><!-- Folio -->63<!-- /Folio -->

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Minutes of proceedings of the
Board and the Committee to be valid</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">205.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Directors shall cause minutes to be duly entered in a book or books provided for the
purpose in accordance with the Articles and section 193 of the Act.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Register of Directors and Managing Agents</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">206.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Directors shall cause to be kept at the Registered Office (A)&nbsp;a Register of the
Directors, Managers, Managing Directors and Managing Agents etc. of the Company containing the
particulars required by Section&nbsp;303 of the Act and (b)&nbsp;a Register of Contracts of Companies
and firms of which they are interested, containing the particulars required by Section&nbsp;301 of
the Act and (c)&nbsp;a Register of Directors share holdings containing the particulars required
by Section&nbsp;307 of the Act. They shall also cause to be kept other Registers and Indexes as
required by the Act.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Inspection of Register</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Company shall comply with the provisions of the said Sections&nbsp;301, 303, 307 and other
Sections of the Act with regard to inspection thereof and furnishing copies or extracts so
far as the same be applicable to the Company.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>XXIV. DIRECTORS&#146; DISQUALIFICATIONS</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Directors not to assign </I></B><B>office</B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">207.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Any assignment of his office by a Director shall be void.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Loans to Directors</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">208.</TD>
    <TD width="4%" nowrap align="left">(1)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Save as otherwise provided in sub-clause (2)&nbsp;the
Company (hereinafter in this clause referred to as &#147;the lending Company&#148;) shall not
without obtaining the previous approval of the Central Government in that behalf,
make any loan to, or give guarantee or provide any security in connection with a
loan made by any other person to or to any other person by:</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="10%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(a)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>any Director of the lending Company or of a Company
which is its holding Company or any partner or
relative of any such Director;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="10%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(b)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>any firm in which any such Director or relative is a partner;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="10%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(c)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>any private company of which any such director is a director
or member;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="10%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(d)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>any body corporate at a general meeting of which not less than
twenty- five per cent of the total voting power may be exercised or controlled
by any such Director or by two or more such Directors altogether; or</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="10%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(e)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>any body corporate, the Board of Directors Managing Agents, or
Manager whereof is accustomed to act in accordance with the directions or
instructions of the Board, or of any Director or Directors, of the lending
Company.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(2)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Sub-clause (1)&nbsp;shall not apply to any loan made guaranteed, given or
security provided to its subsidiary; or to another Company of which the lending
Company is the Managing Agents.</TD>
</TR>

</TABLE>
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio --><!-- /Folio -->
</DIV>



<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: Helvetica,Arial,sans-serif">


<DIV align="center" style="font-size: 10pt; margin-top: 18pt">64
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Board&#146;s sanction to be required for certain contacts in which particular Directors are
Interested</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">209.</TD>
    <TD width="4%" nowrap align="left">(1)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Except with the consent of the Board of Directors of the Company a Director of the
Company or his relative or a firm in which such a director or his relative is a partner or
any other in such a firm or a private Company of which the Director is a member or
Director, shall not enter into any contract with the Company :-</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="10%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(a)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>for the sale, purchase or supply of any goods, materials,
or services; or</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="10%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(b)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>after commencement of the Act, for underwriting the
subscription of any shares, or debentures of the Company.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(2)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Nothing contained in clause (a)&nbsp;of sub-clause (1)&nbsp;shall effect any
contract or contracts of the sale, purchase or supply of any goods, materials, or
services in which either the Company or the Director, firm, partner or private
Company as the case may be, regulates trade or does business, provided that the
value of such goods and materials and the cost of such services do not exceed
five thousand rupees in the aggregate in any calendar year comprised in the
period of the contract or contracts.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(3)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>the consent of the Board required by sub-cause (1)&nbsp;shall not be deemed
to have given within the meaning of that sub-clause unless, the consent in
accorded :</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="10%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(a)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>by a resolution passed at a meeting of the Board; and</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="10%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(b)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>before the contract is entered into, or within two months
of the date in which it was entered into.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(4)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Where such consent is not accorded to the contract before it is entered into,
anything done in pursuance of the contract shall, if, such consent is ultimately not
accorded be voidable at the option of the Board.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Directors not to hold office of profit</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">210.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>No Director or other person mentioned in Section&nbsp;314 shall without the consent of
the Company accorded by a Special Resolution hold an Office or place of profit under the
Company or any subsidiary of the Company except as provided in the said section.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Directors
may contract with the Company</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">211.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Subject to the restrictions imposed by Articles 208, 209 and
210 and Sections&nbsp;292, 297,
299 and 314,356 to 360, 370 and 372 of the said Act and the observance and fulfillment
thereof, no Directors shall be disqualified by his office from contracting with the
Company either as vendor, purchaser, agent, brokers, muccadum, or
otherwise, nor shall any
such contract or any contract or arrangement entered into by or on behalf of the Company
in which any Director shall be in any way interested be liable to account to the Company
for any profit realised so any such contract or arrangement by reason only of such
Director holding that office, or of the fiduciary relation thereby established, but the
nature of his interest may be disclosed by him in accordance with and in the cases
mentioned in the said Articles or said sections.
</TD>
</TR>
</TABLE>
</DIV></DIV>
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: Helvetica,Arial,sans-serif">
<P align="center" style="font-size: 10pt"><!-- Folio -->65<!-- /Folio -->
<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Duty
of Directors etc. to make disclosure</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">212.</TD>
    <TD width="4%" nowrap align="left">(1)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Every Director (including a person deemed to be a Director
by virtue of the explanation to sub-section (1)&nbsp;of Section&nbsp;303), Manager or
Secretary of the Company who is appointed to the office of Director, Managing
Agent, Secretaries and Treasures, Managing Director, Manager or Secretary of any
other body corporate shall, within thirty days of his appointment, disclose to
the Company aforesaid the particulars relating to the office in the other body
corporate which are required to be specified under sub-section (1)&nbsp;of Section
303.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Duty of Directors and persons deemed to be Directors to make disclosure of shareholdings</I></B>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(2)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Every Director of a Company and every person deemed to be a Director of
the Company by virtue of sub-section (10)&nbsp;of Section&nbsp;307, shall give notice to the
Company of such matters relating to himself as may be necessary for the purpose of
enabling the Company to comply with the provisions of that Section, within one
week.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Disclosure of interest by Director</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">213.</TD>
    <TD width="4%" nowrap align="left">(1)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Every Director of the Company who is in any way, whether
directly or indirectly, concerned or interested in a contract or arrangement, or
proposed contract or arrangement, entered into or to be entered into, by or on
behalf of the Company, shall disclose the nature of his concern or interest at a
meeting of the Board of Directors.</TD>
</TR>
</TABLE>
</DIV>
<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR>
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="5%" nowrap align="left">(2)</TD>
    <TD width="4%">(a)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>In the case of a proposed contract or arrangement the disclosure required to be
made by a Director under clause (1)&nbsp;above shall be made at the meeting of the Board
at which the question of entering into the contract or arrangement is first taken
into consideration, or if the Director was not, at the date of that meeting,
concerned or interested in the proposed contract or arrangement, at the first
meeting of the Board held after-he becomes so concerned or interested.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="5%" nowrap align="left">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(b)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>In he case of any other contract or arrangement, the required
disclosure shall be made at the first meeting of the Board held after the Director
becomes concerned or interested in the contract or arrangement.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="5%" nowrap align="left">(3)</TD>
    <TD width="4%">(a)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>For the purpose of clause (1)&nbsp;and (2)&nbsp;above a general notice in writing given to
the Board by a Director to the effect that he is a Director or a member of a
specified body corporate or is a member of a specified from and is to be regarded
as concerned or interested in any contract or arrangement which may after the date
of the notice be entered into with that body, corporate or firm, shall be deemed to
be sufficient disclosure of concern or interest in relation to any contract or
arrangement so made.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="5%" nowrap align="left">&nbsp;</TD>
    <TD width="4%">(b)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Any such general notice shall expire at the end of the financial
ear in which it is given, but any be renewed for further periods of one
financial year by a fresh notice writing given in the last month of the
financial year in which it would otherwise have expired.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="5%" nowrap align="left">&nbsp;</TD>
    <TD width="4%">(c)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>No such general notice and no renewal thereof shall be of effect
unless either it is given at a meeting of the Board, or the Director concerned
takes reasonable steps</TD>
</TR>

</TABLE>
</DIV></DIV>
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: Helvetica,Arial,sans-serif">
<P align="center" style="font-size: 10pt"><!-- Folio -->66<!-- /Folio -->

<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #textcolor#; background: #bgcolor#">
    <TD width="5%" nowrap align="left">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>to secure that it is brought up and read at the first meeting of the
Board after it is given.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Interested
Director not to participate or vote in Board&#146;s Proceedings</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">214.</TD>
    <TD width="4%" nowrap align="left">(1)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>No Director of the Company shall as a Director take any
part n the discussion of, or vote on, any contract or arrangement entered into or
to be entered into, by or on behalf of the Company, if he is in any way, whether
directly or indirectly, concerned or interested in the contract or arrangement nor
shall his presence count for the purpose of forming a quorum at the time of any
such discussion or vote, and if he does vote, his vote shall be void.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(2)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Clause (1)&nbsp;shall not apply to</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="10%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(a)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>any contract of indemnity against any loss which the
Directors or anyone or more of them may, suffer by reason of becoming or
being sureties or a surety of the Company.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="10%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(b)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>any contract or arrangement entered in to any to be entered
into with a public company, or a private company, which is a subsidiary of a
public company, in which the interest of the Director aforesaid consists
solely in his being a Director of such Company and the holder of not more
than shares of such number or a value therein as is requisite to
qualify him
for an appointment as a Director thereof, he having been nominated as such
Director by this Company.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Certain powers to be exercised by Board only at meeting</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">215.</TD>
    <TD width="4%" nowrap align="left">(1)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>the Board of Directors of a Company shall exercise
the following powers on behalf of the Company, and it shall do so only by means of
resolutions passed at meetings of the Board :-</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="10%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(a)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>the power to make calls on shareholders in respect of money
unpaid on their shares;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="10%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(b)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>the power to issue debentures;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="10%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(c)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>the power to borrow moneys otherwise than on debentures;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="10%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(d)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>the power to invest the funds of the Company; and</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="10%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(e)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>the power to make loans;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="10%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Provided that the Board may, by a resolution passed at a meeting, delegate
to any Committee of Directors, the Managing Directors, Managing Agents,
Secretaries and Treasurers or the Managers of the company or in the case of
a Branch Office of the Company, to any principal officer the powers
specified in clause (c), (d)&nbsp;and (e)&nbsp;and to the extent, specified in
sub-sections (2), (3)&nbsp;and (4)&nbsp;respectively of Section&nbsp;292 of the Act.</TD>
</TR>

</TABLE>
</DIV></DIV>
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: Helvetica,Arial,sans-serif">
<P align="center" style="font-size: 10pt"><!-- Folio -->67<!-- /Folio -->

<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">



</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(2)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Every resolution delegating the power referred to in clause (c)&nbsp;of sub-
clause (1)&nbsp;shall specify the total amount upto which moneys may be borrowed by
the delegate.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(3)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Every resolution delegating the power referred to in clause (d)&nbsp;of
sub-clause (1)&nbsp;shall specify the total amount upto which funds may be invested,
and the nature of the investments which may be made, by the delegate.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(4)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Every resolution delegating the power referred to in clause (3)&nbsp;of sub-
clause (1)&nbsp;shall specify the total amount upto which loans may be made by the
delegate, the purposes for which the loans may be made and the maximum amount of
loans which may be made for each such purpose in individual cases.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(5)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Nothing in this Article shall be deemed to affect the right of the
company in General Meeting to impose restrictions and conditions on the exercise
by the Board of any of the powers specified in sub-clause (1).</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Restriction on Powers of Board</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">216.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Board of Directors of the Company shall observe the restrictions on their powers as laid
down in Section&nbsp;293 of the Companies Act.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Appointment
of Selling Agents to require approval of Company in General Meeting</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">217.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>With regard to the appoint of selling agents, the Board of Directors shall agents, the
board of Directors shall comply with the provisions of Section&nbsp;294 of the Company Act.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Directors
may be Directors of Company promoted by the Company</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">218.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>A Director of the Company may be or become a Director of any Company
promoted by or a subsidiary of the Company, or in which it may be interested as a
vendor, shareholder or otherwise, and no such Director shall be accountable for any
benefits received as Director or member of such company.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>XXV. BORROWING POWERS OR DIRECTORS</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Power to Borrow</I></B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B><I>Conditions on which money may be borrowed</I></B>

</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">219.</TD>
    <TD width="4%" nowrap align="left">(1)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Subject to clause (2)&nbsp;hereof the Directors may, from time to
time at their discretion raise or borrow, or secure the repayment of any loan or
advance taken by the Company. Any such moneys may be raised and the payment or
repayment of such moneys maybe secured in such manner and upon such terms and
conditions in all respects as the Directors may think fit and, in particular by
promissory notes, or by opening current accounts or by receiving deposits and
advances at interest, with or without security, or by the issue of debentures of
debenture stock of the Company charged upon all or any part of the property of
the Company (both present and future), including its uncalled capital for the
time being, or by mortgaging, charging or pledging any lands, buildings,
machinery, plants, goods or other property and securities of the Company, or by
such other means as to them may seem expedient.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Restrictions on powers of Board</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(2)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Board of Directors shall not, except with the consent of the
Company in General Meeting, borrow moneys</TD>
</TR>

</TABLE>
</DIV></DIV>
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: Helvetica,Arial,sans-serif">
<P align="center" style="font-size: 10pt"><!-- Folio -->68<!-- /Folio -->

<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #textcolor#; background: #bgcolor#">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>where the moneys to be borrowed together with the moneys already borrowed by the Company
(apart from temporary loans obtained from the Company&#146;s bankers in the ordinary course of
business) will exceed the aggregate of the paid-up capital of the Company and its free
reserves, that is to say, reserves not set apart for any specific purpose.</TD>
</TR>
<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>No debt by the Company in excess of limit imposed by this Article shall be valid or
effectual unless the lender proves that he advanced the loan in good faith and without
knowledge that the limit imposed by that Article has been exceeded.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(3)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Any bonds, debentures, debenture-stock or other securities issued or to be issued by the
Company, shall be under the Control of the Directors who may issue them upon such terms and
conditions and in such manner and for such consideration as they shall consider to be for the
benefit of the Company.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Securities may assignable free from equities</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(4)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Any such debentures, debenture-stock and other securities may be made assignable free from
any equities between the Company and the person to whom the same may be issued.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(5)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>If any other is made to the public to subscribe for or purchase debentures the provisions of
the said act relating to a prospectus shall be complied with.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Issue at discount etc. or with special privilege</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="5%" nowrap align="left">(6)</TD>
    <TD width="4%">(a)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Any such debentures, debenture-stock, bonds or other securities may be issued at a
discount, premium or otherwise, and on condition (with the consent of the Company in General
Meeting) and they may have a right to allotment of or be convertible into shares of any
denominations, and with any special privileges and conditions as to redemption (or being
irredeemable), surrender, drawings, re-issue, attending at General Meeting of the Company,
appointment of Directors, and otherwise, provided that no debentures, debenture-stock, bonds
or other securities may be issued carrying voting rights.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="5%" nowrap align="left">&nbsp;</TD>
    <TD width="4%">(b)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Company shall have power to re-issue redeemed debentures in certain cases in
accordance with Section&nbsp;121 of the Act.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="5%" nowrap align="left">&nbsp;</TD>
    <TD width="4%">(c)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Payments of certain debts out of assets subject to floating charge in priority to claims
under the charge may be made in accordance with the provisions of Section&nbsp;123 of the Act.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="5%" nowrap align="left">&nbsp;</TD>
    <TD width="4%">(d)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Certain charges mentioned in Section&nbsp;125 of the Act shall be void against the Liquidator
or Creditors unless registered as provided in Section&nbsp;125 of the Act.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="5%" nowrap align="left">&nbsp;</TD>
    <TD width="4%">(e)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The term &#147;Charge&#148; shall include mortgage in these Articles.</TD>
</TR>


</TABLE>
</DIV></DIV>
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: Helvetica,Arial,sans-serif">
<P align="center" style="font-size: 10pt"><!-- Folio -->69<!-- /Folio -->

<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">



</TABLE>
</DIV>



<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="5%" nowrap align="left">&nbsp;</TD>
    <TD width="4%">(f)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>A contract with the Company to take up and pay for nay debentures of the
Company may be enforced by a Deed for specific performance.</TD>
</TR>
</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Limitation of time for issue of certificates</I></B>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="5%" nowrap align="left">&nbsp;</TD>
    <TD width="4%">(g)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Company, shall within three months after the allotment of any of its
shares, debentures of debenture-stock, and within two months after the
application for the registration of the transfer of any shares, debentures or
debenture-stock have completed and have ready for delivery the certificates of
all shares, the debentures and the certification of all debenture-stock allotted
or transferred, unless the conditions of issue of the shares, debentures of
debenture-stock otherwise provide.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="5%" nowrap align="left">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The expression &#147;transfer&#148; of the purpose of the subclause means a transfer duly
stamped and otherwise valid, and does not include any transfer which the
Company is for any reason entitled to refuse to register and does not register.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Right to obtain called capital</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="10%" style="background: transparent">&nbsp;</TD>
    <TD width="5%" nowrap align="left">(h)</TD>
    <TD width="4%">(1)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>A copy of any trust deed for securing any issue of debentures shall be forwarded to
the holder of any such debentures or any member of the Company at his request and within seven
days of the making thereof on payment;</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="20%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(i)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>in the case of a printed Trust Deed, of the sum of one
Rupee, and</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="20%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(ii)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>in the case of a Trust Deed which has not been printed, of
thirty seven paise for every one hundred words or fractional part thereof
required to be copied.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="10%" style="background: transparent">&nbsp;</TD>
    <TD width="5%" nowrap align="left">&nbsp;</TD>
    <TD width="4%">(2)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Court may also, by order, direct that the copy required shall
forthwith be sent to the person requiring it.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Inspection of Trust Deeds</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="10%" style="background: transparent">&nbsp;</TD>
    <TD width="5%" nowrap align="left">&nbsp;</TD>
    <TD width="4%">(3)</TD>
    <TD width="1%">&nbsp;</TD>

    <TD>The Trust Deed referred to in sub-clause (1)&nbsp;shall be open inspection
by any member or debenture holder of the Company in the same manner, to the same
extent, and on payment of the same fees, as if it were the register of members of
the Company.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Mortgage of uncalled capital</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">220.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>If any uncalled capital of the Company is included in or charged by any mortgagor other
security, the Directors may, by instrument under the Company&#146;s seal, authorise the person
in whose favour such mortgage or security is executed, or any other person in trust for
him to make calls on the members in respect of such uncalled capital, and the provisions
hereinbefore contained in regard to call shall mutatis mutandis apply to calls under such
authority, and such authority may be made exercisable either conditionally or
unconditionally and either presently or contingently, and either to the exclusion of the
Directors power or otherwise, and shall be assignable if expressed so to be.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Indemnity may be given</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">221.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>If the Directors or any of them or any other person shall become personally liable for
the payment of any sum primarily due from the Company, the Directors may execute or cause
to be executed any mortgage, charge or security over or affecting the whole or any part of
the assets of the Company by way of indemnity to secure the Directors or person so
becoming liable as aforesaid from any loss in respect of such liability.</TD>
</TR>

</TABLE>
</DIV></DIV>
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: Helvetica,Arial,sans-serif">
<P align="center" style="font-size: 10pt"><!-- Folio -->70<!-- /Folio -->

<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">



</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Register of Mortgage and Debentures to be kept</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">222.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Directors shall cause a proper register to be kept, in accordance with the provisions
of Section&nbsp;143 of the said Act, of all mortgages, debentures, and charges and shall
cause the requirements of Sections&nbsp;118, 124 to 144 of the said Act in that behalf to be
duly complied with, so far as they are required to be complied with by the Directors.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Registration of charges</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">223.</TD>
    <TD width="4%" nowrap align="left">(a)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The provisions of the Act relating to registration of
charges which expression shall include mortgages, shall be complied with.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(b)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>In the case of a change created out of India and comprising solely
property situate outside India the provisions of Section&nbsp;125 of the Act shall be
complied with.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(c)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Where a charge is credited in India but comprises property outside India,
the instrument creating or purposing in create the charge under that section or a
copy thereof verified in the prescribed manner, may be filled for registration,
notwithstanding that further proceedings may be necessary to make the charge valid
of effectual according to the law of the country in which the property is situate
as provided by Section&nbsp;125 of the Act.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(d)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Where any charges on any property of the Company required to be registered
under Section&nbsp;125 of the Act has been so registered, any person acquiring such
property or any part thereof or any share or interest therein, shall be deemed to
have notice of the charge as from the date of such registration.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(e)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>In respect of registration of charges on properties acquired subject to
charge, the provisions of Section&nbsp;127 of the Act shall be complied with.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Company shall also comply with the provisions of Section&nbsp;128 of the Act
relating to particulars in case of series of debentures entitling holders to any
charge to the benefit of which the debenture holder of that series are entitled
part passu.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(f)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Company shall comply with the provisions of Section&nbsp;129 of the Act in regard to
registration of particulars of commission, allowance or discount paid or made directly or
indirectly in connection with the debentures.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(g)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>the provisions of Section&nbsp;133 of the Act as to endorsement of certificate
of registration of debenture certificate ate or debenture stock shall be complied
with by the Company.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(h)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Company shall comply with he provisions of Section&nbsp;134 of the Act as
regards registration of particulars of every charge and of every series of
debentures.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(i)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>As to modification of charges, the Company shall comply wit the provisions
of Section&nbsp;136 of the Act.</TD>
</TR>

</TABLE>
</DIV></DIV>
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: Helvetica,Arial,sans-serif">
<P align="center" style="font-size: 10pt"><!-- Folio -->71<!-- /Folio -->

<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">


<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(j)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Company shall Comply with the provisions of Section&nbsp;136 of the Act
regarding keep of a Copy of instrument creating charge at the Registered Office of
the Company and comply with the provisions of Section&nbsp;137 of the Act in regard to
entering in the register of charges any appointment of Receiver or Manager as therein
provided.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(k)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Company shall also comply with the provisions of Section&nbsp;138 of the Act
as to reporting satisfaction of any charge and procedure thereafter.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(l)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Company shall keep at its registered office a register of charges and
enter therein all charges specifically affecting any property of the Company and all
floating charges on the undertaking or on any property of the Company given in each
case:</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="10%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(i)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>a short description of the property charged,</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="10%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(ii)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>the amount of the charge; and</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="10%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(iii)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>except in the case of securities to bearer, the names of
persons entitled to the charge,</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(m)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Any creditor or member of the Company and any other person shall have the
right to inspect copies of instrument creating charges and the Company&#146;s register of
charges in accordance with the subject to the provisions of Section&nbsp;144 of the Act.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(n)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Company shall comply with the provisions of Section&nbsp;145 of the Act so
for as the same be applicable.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Company shall comply with the provisions of Section&nbsp;150 as to register of
members and the provisions of Section&nbsp;152 of the Act as to Register and index of
Debenture-holders.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Terms not recognised</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">224.</TD>
    <TD width="4%" nowrap align="left">(a)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>No notice of any trust express or implied or constructive, shall be entered on the
register of members or of debenture-holders or be receivable by the Registrar.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><b><I>Foreign register of members</I></b>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(b)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Company may exercise the power for the Company to keep foreign
register of members or debenture holders as provided in Section&nbsp;157 of the Act of
the provisions of Section&nbsp;158 of the Act as to foreign registers shall be complied
with.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(c)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Company shall comply with the provisions of Section&nbsp;159 of the Act
regarding filling of Annual Returns and the provisions of Section&nbsp;161 of the Act as
regarding annual return and certificates to be annexed thereto.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><b><I>Place of keeping and inspection of register and returns.</I></b>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="5%" nowrap align="left">(d)</TD>
    <TD width="4%">(1)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The register of members commencing from the date of e registration of the Company,
the index of members, the register and index of debenture holders and copies of all
annual returns prepared under Section&nbsp;159 and 160 together with the copies of
certificates and documents required to be annexed thereto Section&nbsp;160 and 161 shall
be kept at the Registered Office of the Company.</TD>
</TR>

</TABLE>
</DIV>
</DIV>
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: Helvetica,Arial,sans-serif">


<DIV align="center" style="font-size: 10pt; margin-top: 18pt">72
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(2)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Registers, indexes, returns and copies of
certificates and other documents referred to in
sub-Section (1)&nbsp;of Section&nbsp;163 shall, except when the
register of members or debenture-holders is closed
under the provisions of the Act be open during
business hours subject to such reasonable restrictions
as the Company may impose so that not less than
two hours in each day are allowed for inspection.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="10%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(a)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>of any member or debenture-holder without free; and</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="10%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(b)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>of any other person or payment of a fee of one Rupee for each
inspection.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(3)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Any such member, debenture holder or other person
may.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="10%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(a)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>make extracts from any register, index or copy
referred to in sub- section (1) of section 163
without fee or additional fee, as the case may be, or</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="10%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(b)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>require a copy of any register, index or copy
or of any part thereof, on payment of 37 place
for every one hundred words or fractional part
thereof required to be copied.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(4)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Company shall cause any copy required by any person under clause (b)&nbsp;of
sub-clause (3)&nbsp;to be sent to that person within a period of ten days, exclusive of
nonworking days, commencing on the day next after the day on which the requirement is
received by the Company.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(5)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Court may also, by order, compel an immediate inspection of the document, or
direct that the extract required shall forthwith be allowed to be taken by person
requiring it, or that the copy required shall forthwith be sent to the person requiring
it, or that the copy required shall forthwith the sent to the person requiring it, as
the case may be.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>XXVI. POWER OF DIRECTORS</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Business of the Company </I></B><B>to </B><B><I>be managed by Directors</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">225.</TD>
    <TD width="4%" nowrap align="left">(1)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Subject to the provisions of Section&nbsp;292,293, 294, 297, 299, 316, 217, 370 and 372 of the
Act, the Board of Directors of the Company shall be entitled to exercise all such powers, give
all such consents, make all such arrangements, he nearly do all such acts and things as are
or shall be by the said Act, and the memorandum of association and these presents directed or
authorised to be exercised, given, make or done by the Company and are not thereby expressly
directed or required to be exercise, given, made or done by the Company in General Meeting,
but subject to such regulations being (if any) being not inconcistent with the said provisionss
as from time to time may be prescribed by the Company in General Meeting provided that no
regulation so</TD>
</TR>

</TABLE>
</DIV></DIV>
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: Helvetica,Arial,sans-serif">
<P align="center" style="font-size: 10pt"><!-- Folio -->73<!-- /Folio -->

<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #textcolor#; background: #bgcolor#">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>made by the company in General Meeting shall invalidate any prior act of the
Directors which would have been valid if the regulations had not beer made.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Power to delegate</I></B>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(2)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Save as provided by the said Act or by these presents and subject to the
restrictions imposed by Section&nbsp;292 of the said Act. the Directors may delegate all
or any powers by the said Act or by the Memorandum of Association or by these
presents reposed on them.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Specific Powers to Directors</I></B>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">226.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Subject to the provisions of Articles 225 but without prejudice to the General Powers
thereby conferred and so as not in any way to conferred by these presents, it is hereby
expressly declared that the Directors shall have the following powers and authorities, that
is to say power and authority:</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="5%" nowrap align="left">(a)</TD>
    <TD width="5%">(i)</TD>
    <TD>to enter into agreements with foreign components and other persons for
obtaining by granting licence or other terms, formulae and other rights and benifits
and to obtain finncial and or technical collabpation, technical information,
knowhow and expert advice in connection with the activities and business permitted
under the Memorandum of Association of the Company.</TD>
</TR>

</table>
</div>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">


<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="10%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(ii)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>to take over and acquire the industrial licence,
improt licence, permit and other rights on payment
of actual and out of pocket expenses incurred
thereof, and compensation for technical services
rendered in connection therewith:</TD>
</TR>
<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="10%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(iii)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>to pay and charge to the Capital Account of the Company the
legal and other costs, cahrges and expenses of and preliminary and incidental
to the promotion, formation, establishment and registration of the Company
including the stamps and fees paid in respect thereof:</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="10%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(iv)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>to pay and charge to the Capital Acccount of the Company any
commissin or interest lawfully payable under the provisions of Sections&nbsp;76
and 208 of the said Act:</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(b)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>to purchase in India or elsewhere any machinery plant stores and other
articles and things for all or any of the objects or purpose of the Company;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(c)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>to purchase, take on lease or otherwise acquire in India any lands
(whether freehold, leasehold or otherwise) and with or without houses, buildings,
structurers or machinery (fixed or loose) and any moveable property, rights or
privileges from any person including a Director in furtherance of or for carrying
out its objects, at or for such price or consideration and generally on such terms
and conditions and with such titled thereto as they may think fit or may believe or
be advised to be reasonable satisfactory.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(d)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>to purchase, or otherwise acqure from any person and to resell, exchange,
and repurchase any patent for or licence for the use of any invention.</TD>
</TR>

</TABLE>
</DIV></DIV>
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: Helvetica,Arial,sans-serif">
<P align="center" style="font-size: 10pt"><!-- Folio -->74<!-- /Folio -->

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(e)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>to purchase or otherwise acquire for the Company any other property, formule,
concessions, rights and privileges which the Company is authorised to acquire, at or
for such price or consideration and generally on such terms and conditions as they may
think fit.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(f)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>in any such purchase or other acquisition to accept such titled as the Directors may
believe or may be advised to be reasonably satisfactory. At their discretion to pay for any
property, rights or privileges acquired by or services rendered to the Company, either
wholly or partly in cahs or in shares, or in both, or in bonds, debentures, mortgages or
other securities of the Company, and any such shares may be issued either as fully paid up
or with such amount credited as paid up thereon as may be agreed upon and any bonds,
debentures, mortgages or other securities, may be either specifically charged upon all or
any part of the property of the Company, and its uncalled capital or not so charged.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(g)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>to sell for cash or on credit or to contract for the sale and future
delivery of or to and for sale in any part of India or elsewhere
any products or Articles produced, manufactured or prepared by
the Company as the Directors may deem advisable.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(h)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>to erect, construct, and build and factories, warehouses, godowns, engine houses, tanks,
wells,-or other constructions, adopted to the objects of the Company or may be considered
expedient or desirable for the objects or purposes of the Company or any of them;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(i)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>to sell from time to time any Articles, materials, machinery, plant, stores and other
Articles and things belonging to the Company as the Directors may think proper and to
manufacturer, prepare and sell waste and by- products;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(j)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>from time to time to extend the business and undertaking of the company by adding to,
altering, or enlarging all or any of the building, factories, workshops, premises, plant
and machinery, for the time being the property or in the possession of the Company, or by
erecting new or additional buildings, and to expend such sums of money for the purposes
aforesaid or any of them, as may be thought necessary or expedient;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(k)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>to remove all or any of the machinery, plant and other movable property of the Company
for the time being in or upon lands, buildings, or premises of the Company to other lands,
buildings, or premises;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(I)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>to negotiate for, and subject to the approval of the Company in General Meeting,
contract for the sale and transfer of all or any part of the property and undertaking of
the Company as a going concern, subject or not subject to all or any of the obligations and
liabilities of the Company;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(m)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>to undertake on behalf of the Company the payment of all rents the performance of all
covenants, conditions and agreements contained in or reserved by any lease that may be
granted or assigned to or otherwise acquired by the Company, and to purchase the reversion
or reversions, and otherwise to</TD>
</TR>

</TABLE>
</DIV></DIV>
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: Helvetica,Arial,sans-serif">
<P align="center" style="font-size: 10pt"><!-- Folio -->75<!-- /Folio -->

<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #textcolor#; background: #bgcolor#">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>acquire the freehold or lee- simple of all or any of the lands of the Company for the
time being held under lease, or for an estate less than a free hold estate;</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(n)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>to improve, manage, develop, exchange, lease, sell, re-sell and re- purchase, dispose of,
deal with or otherwise turn to account and property (movable or immovable) or any rights or
privileges belonging to or all the disposal of the Company or in which the Company is
interested;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(o)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>to secure the fulfilment of any contracts or engagements entered into by the Company by
mortgage or charge of all or any of the property of the Company and its unpaid capital for
the time being, or in such manner as they may think fit.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(p)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>to accept from any member, on such terms and conditions as shall be agreed upon and as far
as may be permissible by law, a surrender of his shares or any part thereof;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(q)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>to determine from time to time who shall be entitled to sign on the Company&#146;s behalf bills,
notes, receipts, acceptances, endorsement, cheques, dividend warrants, releases, contracts
and documents and to give the necessary authority for such purposes;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(r)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>to make advances and loans without any security, or on such security as they may think
proper and to take security for already existing debts, and otherwise to invest and deal with
any of the moneys of the Company not immediately required for the purposes thereof
in Government or Municipal securities fixed deposits in banks and in such other manner as
they may think fit and from time to tie vary or realise such investments, and for the purpose
aforesaid to authorise such persons within limits to be fixed from time to time by the Board.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(s)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>to make and give receipts, releases and other discharges for moneys payable to, or for
goods or property belonging to the Company, and for the claims and demands of the Company;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(t)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>subject to the provisions of Section&nbsp;292, 293, 295, 369, 370 and 372 of the said Act  to
invest and deal with any moneys of the Company not immediately required of the purposes
thereof, upon such security (not being shares of the Company) or without security and in
such manner as they may think fit, and from time to time to vary or realise such
investments. Save as provided in Section&nbsp;49 of the said Act all investments shall be made
and held in the Company&#146;s own name;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(u)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>to give to any officer or other person employed by the Company including any Directors so
employed, a commission on the profits of any particular business or transaction, or a share
in general or particular profits of the Company, and such commission or share of profits
shall be treated as part of the working expenses of the Company and to pay commissions and
make allowances</TD>
</TR>

</TABLE>
</DIV></DIV>
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: Helvetica,Arial,sans-serif">
<P align="center" style="font-size: 10pt"><!-- Folio -->76<!-- /Folio -->

<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #textcolor#; background: #bgcolor#">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>to any person introducing business to the Company or otherwise assisting its interests;</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(v)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>subject to the provisions of Section&nbsp;49 of the said Act to appoint any person or persons
(whether incorporated or not) to accept and hold in trusts for the Company any property
belonging to the Company, or in which the Company is interested or for any other purposes and
to execute and do all such acts, deeds and things as may be requisite in relation to any such
trust, and to provide for the remuneration of such trustee or trustees;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(w)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>to insure and keep insured against toss or damage or fire or otherwise for such period and
to such extent as they may think proper all or any part of the buildings, machinery, goods,
stores, produce and other movable property of the Company either separately or conjointly,
also to insure all or any portion of the goods, produce, machinery and other articles
imported or exported by the Company and to sell, assign, surrender or discontinue any
policies of assurance effected in pursuance of this power.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(x)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>to attach to any shares to be issued as the consideration or part of the consideration for
any contract with or property acquired to the Company, or in payment for services rendered to
the Company, such conditions, as to the transfer thereof as they think fit;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(y)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>to execute, in the name and on behalf of the Company, in favour of any Director or other
person who may incur or be about to incur any personal liability for the benefit of the
Company, such mortgages of the Company&#146;s property (present and future) as they may think fit
and any such mortgage may contain a power of sale and such other powers, covenants and
provisions as shall be agreed upon;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(z)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>to institute, conduct, defend, compound, abandon or refer to arbitration any action, suit,
appeals, proceedings, for enforcing decrees and orders and other legal proceedings by or
against the Company or its officers, or otherwise concerning the affairs of the Company, to
compound or compromise and allow time for payment or satisfaction of any debts due and of any
claims or demands by or against the Company and to refer the same or arbitration, to observe
and perform any awards made there on; to act on behalf of the Company in all matters relating
to bankrupts and insolvents;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(aa)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The person duly authorised by the Directors shall be entitled to make, give, sign and execute
all and every warrant to use or defend on behalf of the Company, and all and every legal
proceedings and compositions or compromise, agreements, and submission to arbitration and
agreement to refer to arbitration as may be requisite, and for the purposes aforesaid, the
Secretary or such other person may be empowered to use their or his own name on behalf of the
Company, and they or he shall be saved harmless and indemnified out of the funds and property
of the Company,</TD>
</TR>

</TABLE>
</DIV></DIV>
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>


<DIV style="font-family: Helvetica,Arial,sans-serif">
<P align="center" style="font-size: 10pt"><!-- Folio -->77<!-- /Folio -->

<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #textcolor#; background: #bgcolor#">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>from and against all costs and damages which they or he may incur or be liable to by
reason of their or his name so used as aforesaid.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(bb)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>to provide for the welfare of the employees or ex-employees of the Company, and the wives,
widows and families or the dependents or connects of such persons and to give, award or allow
any pension, gratuity, compensation, grants of money, allowances, bonus or other payment to
or for the benefit of such persons as may appear to the Directors just and proper, whether
they have or have not a legal claim upon the Company, and before recommending any dividends to
set aside portions of the profits of the Company to form a fund to provide for such payments
and in particular to provide for the welfare of such persons, by building or contributing to
the building of houses, dwelling or chawls, or by creating and from time to time subscribing
or contributing to provident and other associations, institutions, funds, or trusts and by
providing or subscribing or contributing towards places of instruction and recreation;
hospitals and dispensaries, medical and other attendance and other assistance as the Directors
shall think fit; and to subscribe or contribute or otherwise to assist or to guarantee money
to charitable, benevolent, religious, scientific, national or other institutions, or objects
which shall have any moral or other claim to support or aid by the Company either by reason of
locality of operation or of public and general utility;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(cc)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>before recommending any dividend, to set aside, out of the profits of the Company such
sums for depreciation as provided in Section&nbsp;205 of the said Act and such sums as they think
proper for creating reserves, general or specific or special funds to meet contingencies or
to repay debentures or debenture-stock or to pay off preference of other shareholders subject
to the sanction of the Court when the same is required by law on for payment of dividends or
equalising dividend or for special dividends or bonus or for repairing, improving, extending
and maintaining any part of the property of the Company and for such other purposes
(including the purposes referred to in the preceding clause) as the Directors may in their
absolute discretion think conducive to the interest of the Company and from time to time to
carry forward such sums as may be deemed expedient and to invest and deal with the several
sums to set aside or any part thereof as provided in clause (r)&nbsp;of this Article as they
think fit, and from time to time to deal with and vary such investment and dispose of and
apply and expend the same or any part thereof for the benefit of the Company in such manner
and for such purpose as the Directors in their absolute discretion think conducive to the
interest of the Company notwithstanding that the matters to which the Directors apply or
upon which they expend the same or any part thereof for the benefit of the Company in such
manner and for such purpose as the Directors in their absolute discretion think conducive to
the interest of the Company notwithstanding that the matter to which the Directors apply or
upon which they expend the same or any part thereof may be matters to and upon which the
capital money of the Company might rightly be applied or expended and the Directors may
divide the Reserve or any Fund into such</TD>
</TR>

</TABLE>
</DIV></DIV>
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: Helvetica,Arial,sans-serif">
<P align="center" style="font-size: 10pt"><!-- Folio -->78<!-- /Folio -->

<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #textcolor#; background: #bgcolor#">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>special funds and transfer any sum from one fund to another as they may think fit and
may employ the assets constituting all or any of the above funds including the
Depreciation Fund or any part thereof in the business of the Company or in the purchase
or repayment of debentures or debenture-stock or preference shares or in payment of
special dividend or bonus and that without being bound to keep the same separate from
the other assets, and without being bound to pay interest for the same with power
however to the Directors at their discretion to pay or allow to the credit of such
funds or any of them the interest at such rate as the Directors may think proper not
exceeding 9 per cent per annum.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(dd)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>from time to time and at any time to entrust to and confer upon the officers for the time
being of the Company, and to authorise, or empower them to exercise and perform and by
Power-of-Attorney under seal to appoint any person to be the Attorney of the Company and
invest them with such  of their powers, authorities, duties and discretion exercisable by or
conferred or imposed upon he Directors, but not the power to make Calls or other power which
by law are expressly stated to be incapable of delegation as the Directors may think fit, and
for such time and to be exercise for such objects and purposes and subject to such
restrictions and conditions, as the Directors may think proper or expedient, and either
collaterally with or to the exclusion of and in substitution for all or any of the powers,
authorities, duties and discretions of the Directors in that behalf, with authority to the
Secretary or such officers or attorney to sub-delegate all or any of the powers, authorities,
duties, and discretions for the time being vested in or conferred upon them and from time to
time to revoke all such appointments of attorney and withdraw, alter or vary all or any of
such powers, authorities, duties and discretions;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(ee)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>to appoint, and at their pleasure to remove, discharge, or suspend and to re-employ or
replace, for the management of the business, secretaries, managers, experts, engineers,
accountants, agents, subagents, bankers, brokers, muccadums, solicitors, officers, clerks,
servants and other employees for permanent, temporary or special services as the Directors
may from time to time think fit, and to determine their powers and duties and fix their
emoluments, salaries, wages, and to require security in such instances and to such amount
as they think fit, and to ensure and arrange for guarantee for fidelity of any employees of
the Company and to pay such premiums on any policy of guarantee as may from time to time
become payable;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(ff)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>from time to time and at any time to establish any local Board for managing any of the
affairs of the Company in any specified locality in India or elsewhere and to appoint any
persons to be members of any Local Boards and to fix their remuneration. And from time to
time and at any time to delegate to any person so appointed any of the powers,
authorities and discretions for the time being vested in the Directors, other than their
power to make a Call and to</TD>
</TR>

</TABLE>
</DIV></DIV>
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: Helvetica,Arial,sans-serif">
<P align="center" style="font-size: 10pt"><!-- Folio -->79<!-- /Folio -->

<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #textcolor#; background: #bgcolor#">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>authorise the members for the time being of any such Local Board, or any of them to
fill up any vacancies therein and to act notwithstanding vacancies and any such
appointment or delegation may be made on such terms and subject to such conditions as
the Directors may think fit, and the Directors may all any time remove any person so
appointed, and may annul or vary any such delegation. Any such delegate may be
authorised by the Directors to sub-delegate all or any of the powers, authorities and
discretions for the time being vested in him.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(gg)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>at any time and from time to time by Power-of-Attorney to appoint any person or persons to
be the Attorney or attorneys of the Company for such purposes and with such powers,
authorities and discretions (not exceeding those vested in or exercisable by the Directors
under these presents) and for such period and subject to such conditions as the Directors may
from time to time think fit and any such appointment (if the Directors think fit) may be made
in favour of the members or any of the members of any Local Board established as aforesaid or
in favour of any Company or the members, Directors, nominees, or Managers of any company or
firm or otherwise in favour of any fluctuating body or persons whether nominated directly or
indirectly by the Directors, and any such Power-of-attorney may contain such powers for the
protection or convenience of persons dealing with such Attorney as the Directors may think
fit.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(hh)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>from time to time to provide for the management transaction of the affairs of the Company
outside the Registered Office or in any specified locality in India or outside India, in such
manner as they think fit and in particular to appoint any person to be the Attorneys or
agents of the Company with such powers, authorities and discretions (including power to sub-
delegate) but not exceeding those vested in or exercisable by the Directors, and also not
the power to make calls or issue debentures and for such period, and upon such terms and
subject to such conditions as the Directors may think fit, and at any time to remove any
person so appointed or withdraw or vary any such powers as may be thought fit, and for that
purpose the Company may exercise the powers conferred by Sections&nbsp;50 and 157 of the Act
relating to official seal for use abroad and the keeping in any State or country outside
India a foreign Register respectively and such powers shall accordingly be vested in the
Directors.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(ii)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>for or in relation to any of the matters aforesaid or otherwise for the purpose and objects
of the Company to enter into all such negotiations and contracts and rescind and vary all
such contracts, and execute, perform and do and sanction, and authorise all such acts, deeds,
matters and things, in the same and on behalf of the Company as they may consider expedient;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(jj)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>to open accounts with any bank or bankers or with any Company, firm or individual for the
purpose of the Company&#146;s</TD>
</TR>

</TABLE>
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio --><!-- /Folio -->
</DIV>



<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: Helvetica,Arial,sans-serif">

<P align="center" style="font-size: 10pt"><!-- Folio -->80<!-- /Folio -->

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>business and to pay money into and draw money from any such account from
time to time as the Directors may think fit.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(kk)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>generally subject to the provisions of the Act and these Articles to delegate
the powers, authorities and discretions vested in the Directors to any person, firm,
company or fluctuating body of persons as aforesaid.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>XXVII. DUTIES OF DIRECTORS</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Duties of Directors</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">227.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>the Directors shall duly comply with the provisions of the
Companies Act, 1956 or any other statutory modification
thereof for the time being in force and in particular the
provisions in regard to registration of the particulars of
mortgages, debentures and charges affecting the property
of the Company or created by it, and keeping a Register
of Directors, Managers, etc; and sending to the Registrar
annual returns and an annual list members and a summary
of particulars relating thereto, and the Balance Sheet and
the notice of any consolidation or increase of share capital
or conversion of shares into stock and the copies of  Special
Resolutions and the Register of Directors, Managers, etc.
and notifications of any change therein.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>XXVIII. MANAGING DIRECTORS</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Power to appoint Managing Director</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">228.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Subject to the provisions of Section&nbsp;267, 268, 269, 309, 310, 311, 316 and 317 of the Act,
the Directors may from time to time appoint one or more of their body to be Managing Director,
Joint Managing Director or Managing Directors of the Company either for a fixed term or
without any limitation as to the period for which he or they is or are to hold such office but
in any case not exceeding five years at a time and may from time to time remove or dismiss him
or them from office and appoint another or others in his or their palce or places.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>What provisions he will be subject to</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">229.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>A managing Director or Joint Managing Director shall not while he continues to hold that
office be subject to retirement by rotation and he shall not be taken into account in
determinng the rotation of retirement of Directors or the number of Directors to retire but
he shall, subject to the terms of any contract between him and the Company, be subject to
the terms of any contract between him and the Company, be subject to the same provisions
as to resignation and removal as the Directors of the Company, and if he ceases to hold the
office of Directors from any cause shall Ipso facto and immediately cease to be Managing
Director.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Remuneration of Managing Director</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">230.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The remuneration of a Managing Director and Joint Managing Director shall from time to
time be fixed by the Directors and may be by way of salary or commission or participate in
profits or by nay or all of those modes or in other from the shall be subject to the
limitations prescribed in Sections&nbsp;198 and 309 of the Act.</TD>
</TR>

</TABLE>
</DIV>

</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: Helvetica,Arial,sans-serif">
<P align="center" style="font-size: 10pt"><!-- Folio -->81<!-- /Folio -->

<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">



</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Powers and duties of Managing Directors</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">231.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Subject to the restrictions contained in the next
succeeding Articles, the Directors may from time entrust to and confer upon
a Managing Director or Joint Managing Director for the time being such of
the powers exercisable under these Articles by the Directors as they may
think fit, and may confer such powrs for such time and to be exercised for
such objects and purposes and upon such terms and conditions and with such
restrictions as they think expedient, and they may confer such powers
either collaterally with or to the exclusion of and in substitution for all
or any of the powers of the Directos in that behalf, and may from time to
time revoke, withdraw, alter or vary all or any of such powers, unless and
until otherwise determined, a Managing Director may exercise all the powers
exercisable by the Directors, save such powers as by the Act or by these
Articles shall be exercisable by the Directors themselves.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Management</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">232.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Managing Director or Managing Directors shall not
exercise the powers to:</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(1)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>make calls on shareholders in respect of
moneys unpaid on the shares in the Company;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(2)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>issue debentures; and</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(3)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>except as may be delegated by the
Board under Section&nbsp;292 of the Act, invest the funds of the
Company, or make loans and borrow moneys.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Certain persons not be appointed Managing Directors</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">233.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Company shall not appoint or employ, or continue
the
appointment or employment of, any person as its Managing or<BR>
wholetime Director who:</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(a)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>is an undischarged insolvent, or has
at any time been adjudged an insolvent.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(b)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>suspends or has at any time suspended
payment to his creditors or makers, or has at any time made, a
composition withthem; or</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(c)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>is, or has at any time been convicted
by a Court in India of an offence involving moral trupitude.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>XXIX and XXX MANAGING AGENTS, SECRETARIES AND TREASURERS</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">234 to 242 DELETED.
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>XXXI. SECRETARY</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Secretary</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">243.</TD>
    <TD width="4%" nowrap align="left">(a)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Directors may from time to time appoint and at their
discretion remove, a person (hereinafter called &#147;the
Secretary&#148;) to keep the Registers required to be kept by the
Company, to perform any other functionwhich by the said Act or
by these Articles are to be performed by the Secretary and to
execute any other duties which may from time to time be
assigned to the Secretary by the Directors.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(b)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Directors may any time appoint a
temporary substitute for the Secretary who shall for the purpose
of these Articles be deemed to be the Secretary.</TD>
</TR>

</TABLE>
</DIV>

</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: Helvetica,Arial,sans-serif">

<P align="center" style="font-size: 10pt"><!-- Folio -->82<!-- /Folio -->

<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">



</TABLE>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>XXXII. INDEMNITY TO AND PROTECTION OF DIRECTORS AND OFFICERS</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Indemnity</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">244.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Every officer of the Company as defined by Section&nbsp;2(3) of the said Act or any person
(whether an officer of the Company or not) employed by the Company as Auditor, shall be
indemnified out of the funds of the Company against all liability incurred by him in
defending any proceedings, whether civil or criminal, in which judgement is given in his
favour or in which he is acquitted or discharged or in connection with any application under
Section&nbsp;633 of the said Act in which relief is granted to him by the Court.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Indemnity to Directors and other officer</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">245.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Subject to the provision of Section&nbsp;201 of the said Act, every Director of the Company,
Manager, Secretary. Trustee, Auditor and other officer or servant of the Company shall be
indemnified by the Company against and it shall be the duty of the Directors out of the funds
of the Company, to pay all losses, costs and expenses which any such person, officer or
servant may incur or become liable to by reason
of any contract entered into or any act or thing done by him-as such officer or servant or
in any way in or about the discharge of his duties, including travelling expenses.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Directors and Other officers not responsible or acts of others</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">246.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Subject to the provisions of Sections&nbsp;201 of the said Act, no
Director of the Company, Manager, Secretary, Trustee, Auditor
and other officer or servant of the Company shall be liable
for the acts, receipts, neglects or defaults of any other Director
or officer or servant or for joining in any receipts or other act
for the sake of conformity merely or for any loss or expenses
happening to the Company through the insufficiency or
deficiency in point of titles or value of any property acquired
by the order of the Directors for or on behalf of the Company
or mortgaged to the Company or for the insufficiency or
deficiency of any security in or upon which any of the moneys
of the Company shall be invested or for any loss or damage
arising from the bankruptcy, insolvency or tortuous act of any
person, company or corporation to or with whom any moneys
securities or effects of the Company shall be entrusted or
deposited or for any loss occasioned by any error of judgement,
omission default or oversight on his part or for any other loss,
damage or misfortune whatever which shall happen in relation
to the execution or performance of the duties of his office or
in relation thereto, unless the same happen through his own
dishonesty.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>XXXIII. SEAL</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>The Seal, its custody and use</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">247.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Directors shall provide a Common Seal for the purpose
of the Company and shall have power from time to time to
destroy the same and substitute a new seal in lieu thereto
and the Directors shall provide for the safe custody of the
seal for the time being. The seal of the Company shall never
be used except by the authority of a resolution of the Board
of Directors and in presence of one of Directors or such
other persons as the Board may authorise who will sign in
token thereof and countersigned by such officers or persons
at the Directors may from time to time resolve.
</TD>
</TR>
</TABLE>
</DIV>

</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: Helvetica,Arial,sans-serif">
<P align="center" style="font-size: 10pt"><!-- Folio -->83<!-- /Folio -->

<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Any instrument bearing the Common Seal of the Company and issued for valuable
consideration shall be binding on the Company notwithstanding any irregularity touching
the authority of the Directors to issue the same.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Company may exercise the powers conferred by Section&nbsp;50 of the Act and such power
shall accordingly be vested in the Board of Directors.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>XXXIV. NOTICES AND SERVICE OF DOCUMENTS</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Members to notify address for registration</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">248.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>If shall be imperative on every member or notify to the Company for registration his place
of address in India and if he has no registered address within India to supply to the
Company an address within India for giving of notices to him.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>A member who shall change his name or address or who being a female, shall marry, shall
notify such change of names or address to the Company.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Notice</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">249.</TD>
    <TD width="4%" nowrap align="left">(1)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Subject to Section&nbsp;53 of the said Act, a document may
be served by the Company on any member thereof either
personally or by sending it by post to him to his registered address or if he has
no registered address in India, to the address if any within India supplied by him
to the Company for the giving of notices to him.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(2)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Where a document is sent by post -</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="10%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(a)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>service thereof shall be deemed to be effected by
properly addressing, prepaying and posting a letter
containing the document provided that where a
member has intimated to the Company in advance
that documents should be sent to him under a
certificate of posting or by registered post with or
without acknowledgement due and has deposited
with the Company a sum sufficient to defray the
expenses of doing so, service of the document
shall not be deemed to be effected unless it is sent in the manner intimated
by the member; and</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="10%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(b)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>such service shall be deemed to have been effected:</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="15%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(i)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>in the case of the notice of a meeting, at the
expiration of forty eight hours after the letter containing the same it
posted; and.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="15%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(ii)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>in any other case, at the time at which the letter
would be delivered in the ordinary course of a post.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(3)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>A document advertised in a newspaper circulating in the neighbourhood of the Registered Office
of the Company shall be deemed to be duly served on the day on which the advertisement appears on
every member of the Company who has no registered address in India and has not supplied to the
Company any address within India for the giving of notices to him.</TD>
</TR>

</TABLE>
</DIV>



</DIV>



<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: Helvetica,Arial,sans-serif">

<P align="center" style="font-size: 10pt"><!-- Folio -->84<!-- /Folio -->

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(4)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>A document may be served by the Company on the joint-holders of a share by
serving it on the joint-holders named first in the Register of members in respect of
the share.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(5)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>A document may be served by the Company on the persons entitled to a share in
consequence of the death or insolvency of a member by sending it through the post in a
pre-paid letter addressed to them by name or by the title of representative of the
deceased or assignee of the insolvent or by any like description at the address, if
any, in India supplied for the purpose by the persons claiming to be so entitled or
until such an address has been so supplied, by serving the document in any manner in
which it might have been served if the death or insolvency had not occurred.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Transfer of successors in title of members bound by notice given to previous holders</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">250.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Every person, who by operation of law, transfer or other means whatsoever; shall become
entitled to any share, shall be bound by any and every notice and other document in respect
of such share which previous to his name and address being entered upon the register shall
have been duly given to the person from whom he derives his title to such share.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>When notice may be given by advertisement</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">251.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Any notice required to be given by the Company to the members or any of them and not
expressly provided for by these presents shall be sufficiently given, if given by
advertisement, once in a English and once in a vernacular daily newspaper circulating in
Bombay.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Service of notice good
notwithstanding death of member</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">252.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Any notice or document served in the manner hereinbefore provided shall notwithstanding such
member be then dead and whether or not the Company has notice of his death, be deemed to have
been duly served in respect of any share, whether held solely or jointly with other persons by
such member, until some other person be registered in his stead as the holder or joint-
holder thereof and such service, for all purposes of these presents be deemed a sufficient
service of such notice or documents on his heirs, executors, administrators and all person (if
any) jointly interested with him in any such shares.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Signature to notice</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">253.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Any notice given by the Company shall be signed by a Director or by the Secretary or some
other officer appointed by the Directors and the signature thereto may be written, printed,
lithographed or photostat.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Service of documents </I></B><B>on </B><B><I>company</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">254.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>A document may be served on the Company or on an officer thereof by sending it to the
Company or officer at the Registered Office of the Company by post under a certificate of
posting or by Registered Post or by leaving it at its Registered Office.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>How time to be counted</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">255.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Where a given number of days notice or notice extending over any other period is required to
be given, the day of service shall not be counted nor shall the day for which notice is given
be counted.</TD>
</TR>


</TABLE>
</DIV></DIV>
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: Helvetica,Arial,sans-serif">
<P align="center" style="font-size: 10pt"><!-- Folio -->85<!-- /Folio -->

<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">



</TABLE>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>XXXV. SECRECY CLAUSE</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Secrecy Clause</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">256.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>No member shall be entitled to visit any works of the Company without the permission of the
Directors or to require discovery of or any information respecting any detail of the
Company&#146;s working, trading or any matter which is or may be in the nature of a secret,
mystery of trade or secret process, which may relate to the conduct of the business of the
Company and which in the opinion of the Directors, it will be nexpedient in the interest of
the members of the Company to communicate to the public.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>XXXVI. WINDING-UP</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Distribution of assets</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">257.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>If upon the winding-up of the Company, the surplus assets shall be more than sufficient to
repay the whole of the paid-up capital, the excess shall be distributed amongst the members
in proportion to the capital paid or which ought to have been paid-up on the shares at the
commencement of the winding- up held by them respectively, other than the amounts paid in
advance of calls. If the surplus assets shall be insufficient to repay the whole of the
paid-up capital, such surplus assets shall be distributed so that as nearly as may be the
losses shall be borne by the members in proportion to the capital paid-up or which ought to
have been paid-up at the commencement of the winding-up on the shares held by them
respectively, other than the amounts paid by them in advance of calls. But this Article is
without prejudice to the rights of the holders of any shares issued upon special terms and
conditions and shall not be construed so as to or be deemed to confer upon them any rights
greater than those conferred by the terms and conditions of issue.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Distribution </I></B><B>of </B><B><I>assets in specie</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">258.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>If the Company shall be wound-up whether voluntarily or otherwise, the following provisions
shall take effect:</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(1)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>the Liquidator may, with the sanction of a special resolution, divide among the
contributories in specie or kind any part of the assets of the Company and may, with
the like sanction, vest any part of the assets of the Company in trustees upon such
trust for the benefit of the contributories or any of them, as the Liquidator with the
like sanction shall think fit.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(2)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>If thought fit any such division may be otherwise than in accordance with the
legal rights of the contributories (except where unalterably fixed by the Memorandum
of Association) and in particular any class may be given preferential or special
rights or may be excluded altogether or in part but in case any division otherwise
than in accordance with the legal rights of the contributories shall be determined on
any contributory who would be prejudiced thereby shall have the right to dissent and
shall have ancillary rights as if such determination were a Special Resolution passed
pursuant to Section&nbsp;494 or 507 of the said Act.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(3)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>In case any shares to be divided as aforesaid involve a liability to calls or
otherwise any person entitled under such division to any of the said shares, may,
within seven days after the passing of the Special Resolution by notice</TD>
</TR>

</TABLE>
</DIV></DIV>
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: Helvetica,Arial,sans-serif">
<P align="center" style="font-size: 10pt"><!-- Folio -->86<!-- /Folio -->

<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #textcolor#; background: #bgcolor#">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>in writing, direct the Liquidator to sell his proportion and pay him the
proceeds and the Liquidator shall, if practicable, act accordingly.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Liquidator may sell for shares in another company</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">259.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Any such Liquidator may, irrespective of the powers
conferred upon him by the said Act and as an additional
power conferring a general or special authority, sell the
undertaking of the Company or the whole or any part of its
assets for shares fully or partly paid-up or the obligations
of or other interest in any other company and may by the
contract of sale agree for the allotment to the members directly of the proceeds of sale
in proportion to their respective interests in the Company and in case the shares of
this Company shall be of different classes, may arrange for the allotment in respect of
preference shares of the Company, to obligations of the purchasing company or of shares
of the purchasing company with preference or priority over or with a larger amount
paid-up than the shares allotted in respect of ordinary shares of this Company and may
further by the contract, limit a time at the expiration of which shares, obligations or
other interests not accepted or required to be sold, shall be deemed to have been
refused and be at the disposal of the Liquidator.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Sale
under Sections&nbsp;494 &#038; 507 </I></B><B>of </B><B><I>the Companies Act, 1956</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="left">260.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Upon any sale under the last preceding Article or under the
powers given by Sections&nbsp;494 and 507 of the said Act, no
member shall be entitled to require the Liquidator either to
abstain from carrying into effect the sale or the resolution
authorising the same or to purchase such member&#146;s interest
in this Company, but in case any member shall be unwilling
to accept the share, obligations or interests to which under
such sale he would be entitled, he may, within seven days
of the passing of the resolution authorising the sale, by
notice in writing to the Liquidator, require him to sell such
shares, obligations or interests and thereupon the same shall
be sold in such manner as the Liquidator may think fit and
the proceeds shall be paid over to the member requiring
such sale.</TD>
</TR>

</TABLE>
</DIV>



</DIV>



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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: Helvetica,Arial,sans-serif">


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>THE INDIAN COMPANIES ACT, 1913</B>
</DIV>


<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><B><I>COMPANY LIMITED BY SHARES</I></B>

</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>MEMORANDUM</B>
</DIV>


<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><B>AND</B>

</DIV>

<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><B>ARTICLES OF ASSOCIATION</B>

</DIV>

<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><B>OF</B>

</DIV>

<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><B>WIPRO LIMITED</B>

</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt">Messrs.&nbsp;ARDESIR
HORMUSJI DINSHAW &#038; Co.<BR>
Solicitors and Notaries Public<BR>
BOMBAY
</DIV>
<DIV align="right" style="font-size: 10pt; margin-top: 6pt; margin-bottom: 3pt">&#091;Certified
true copy&#093;
</DIV>

<DIV align="right" style="font-size: 10pt; margin-top: 12pt"><IMG src="f42472f4247202.gif" alt="-s- V. Ramachandran">
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: Helvetica,Arial,sans-serif">


<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 20%"><U>Co.
No.&nbsp;20800.</U>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><IMG src="f42472f4247203.gif" alt="(HINDI CHARACTERS)">
</DIV>

<DIV align="center" style="font-size: 10pt"><IMG src="f42472f4247208.gif" alt="(HINDI CHARACTERS)"></DIV>



<DIV align="Center" style="font-size: 10pt; margin-top: 0pt">CERTIFICATE OF REGISTRATION OF THE ORDER OF COURT<BR>
CONFIRMING TRANSFER OF THE REGISTERED OFFICE<BR>
FROM ONE STATE TO ANOTHER

</DIV>
<DIV align="center" style="font-size: 10pt;margin-top: 6pt"><IMG src="f42472f4247209.gif" alt="(HINDI CHARACTERS)"></DIV>



<DIV align="justify" style="margin-top: 6pt; margin-left: 30%; margin-right:30%; font-size: 10pt">The WIPRO LIMITED having by special resolution altered the provisions of its Memorandum of
Association with respect to the place of the registered office by changing it from the state of
Maharashtra to the state of Karnataka and such alteration having been confirmed by an order of
Company Law Board, Western Region Bench, bearing date the 9<SUP style="font-size: 85%; vertical-align: text-top">th</SUP> May, 1996.
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><IMG src="f42472f4247211.gif" alt="(HINDI CHARACTERS)">
</DIV>


<DIV align="justify" style="margin-top: 6pt; margin-left: 30%; margin-right:30%; font-size: 10pt">I hereby certify that a certified copy of the said order has this day been registered.
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><IMG src="f42472f4247210.gif" alt="(HINDI CHARACTERS)">
</DIV>


<DIV align="justify" style="margin-top: 6pt; margin-left: 30%; margin-right:30%; font-size: 10pt">Given under my hand at Bangalore this Tenth day of July one thousand nine hundred and Ninety Six.
</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="45%">&nbsp;</TD>
    <TD width="10%">&nbsp;</TD>
    <TD width="45%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">

<TD valign="top" colspan="3"><DIV align="left" style="font-size: 10pt; margin-top: 10pt; margin-left: 20%"><IMG src="f42472f4247212.gif" alt="(J.S.C.-6 LOGO)"></DIV></TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>

<TD align="center" valign="top"><IMG src="f42472f4247213.gif" alt="-s- V. Sreenivas Rao"></TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">(V. Sreenivas Rao)</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><IMG src="f42472f4247214.gif" alt="(HINDI CHARACTERS)"></TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">Registrar of Companies</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">Karnataka : Bangalore</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>



<P align="center" style="font-size: 10pt"><!-- Folio --><!-- /Folio -->
</DIV>



<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: Helvetica,Arial,sans-serif">




<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><IMG src="f42472f4247203.gif" alt="(LOGO)">
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 6pt"><B>FRESH CERTIFICATE OF INCORPORATION</B>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 3pt"><B>CONSEQUENT ON CHANGE OF NAME</B>
</DIV>


<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><B>No.&nbsp;4713/GTA</B>

</DIV>

<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><B>IN THE OFFICE OF THE REGISTRAR OF COMPANIES<BR>
MAHARASHTRA, BOMBAY.<BR>
&#091;Under the Companies Act, 1956 (1 of 1956)&#093;</B>

</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>In
the matter of <SUP>*</SUP>WIPRO PRODUCTS LIMITED.</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>I hereby certify that WIPRO PRODUCTS LIMITED, which was originally
incorporated on TWENTY NINTH day of December&nbsp;1945 under the
&#043;INDIAN
COMPANIES ACT, 1913, and under the name WIPRO PRODUCTS LIMITED having
duly passed the necessary resolution in terms of
Section&nbsp;21/22(1) (a)/</B><B>22(1) (b)</B><B> of Companies Act, 1956, and the approval of the Central
Government signified in writing having been accorded thereto in the
DEPARTMENT OF COMPANY AFFAIRS.</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>Regional
Director WESTERN REGION letter no. RD: 110(21)1/84 dated
31-3-1984 the name of  said company is this day changed to WIPRO
LIMITED and this certificate is issued pursuant to Section&nbsp;23(1) of the
said Act.</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>Given under my hand at BOMBAY this day of TWENTY EIGHTH APRIL 1984
(One Thousand Nine Hundered EIGHTYFOUR).</B>
</DIV>
<P><DIV style="position: relative; float: left; width: 45%">

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><IMG src="f42472f4247204.gif" alt="(SEAL)">
</DIV>

</DIV>
<DIV style="position: relative; float: right; width: 45%">

<DIV align="center" style="font-size: 10pt; margin-top: 18pt">&nbsp;<BR>
&nbsp;<BR>
&nbsp;
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>Sd/-<BR>
(U. C. NAHTA)<BR>
Addl. Registrar of Companies,<BR>
Maharashtra, Bombay.</B>
</DIV>

</DIV>
<BR clear="all"><BR>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">*</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Here give the name of the Company as existing prior to the change.</B></TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">&#043;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B> Here give the name of the Act(s) under which the Company was
originally registered and incorporated.</B></TD>
</TR>

</TABLE>
</DIV>
<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: Helvetica,Arial,sans-serif">


<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">



</TABLE>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>FRESH CERTIFICATE OF INCORPORATION<BR>
CONSEQUENT ON CHANGE OF NAME</B>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 6pt"><B>In
the office of the Registrar of Companies, Maharashtra<BR>
 (under the Companies Act, 1956 (1 of 1956)</B>
</DIV>


<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><B>In the matter of</B><BR>
 <sup>*</sup><U><B>WESTERN INDIA VEGETABLE PRODUCTS LIMITED</B></U>

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>I
hereby certify the </B><U><B>WESTERN INDIA VEGETABLE
PRODUCTS</B></u>. <B>LIMITED</B><B>,</B> <B>which was originally incorporated on </B><U><B>TWENTY NINTH</B></U>
<B>day.</B> <B><u>DECEMBER 1945</u> under the @ </B><U><B>INDIAN COMPANIES Act, 1913</B></U><B> and under the name WESTERN INDIA
VEGETABLE PRODUCTS Limited having duly passed the necessary resolution
in terms of Section&nbsp;21 of the Companies Act, l956, and the approval of
the Central Government signified in writing having been accorded
thereto in the Regional Director. Company Law Board, Western Region,
Bombay letter No. </B><U><B>RD : 8(21)</B><B> 5/77 dated
6/6/1977</B></U><B>, the name of the said
company is this day changed to </B><U><B>WIPRO PRODUCTS LIMITED</B></u><B> and this
certificate is issued pursuant to Section&nbsp;23(1) of the said Act.</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>Given under my hand at BOMBAY this SEVENTH day of JUNE
1977 (One thousand nine hundred and SEVENTY SEVEN).</B>
</DIV>
<P><DIV style="position: relative; float: left; width: 45%">

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><IMG src="f42472f4247204.gif" alt="(SEAL)">
</DIV>

</DIV>
<DIV style="position: relative; float: right; width: 45%">

<DIV align="center" style="font-size: 10pt; margin-top: 18pt">&nbsp;<BR>
&nbsp;<BR>
&nbsp;<BR>
<B>Sd/-<BR>
(V. M. GODBOLE)<BR>
Asstt. Registrar of Companies,<BR>
Maharashtra, Bombay.</B>
</DIV>

</DIV>
<BR clear="all"><BR>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">*</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Here give the name of the Company as existing prior to the
change.</B></TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">@</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B><I><SUP style="font-size: 85%; vertical-align: text-top"></SUP> </I></B><B>Here give the name of the Act(s) under which the Company was
originally registered and incorporated.</B></TD>
</TR>

</TABLE>
</DIV>
<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: Helvetica,Arial,sans-serif">


<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">



</TABLE>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>Certificate of Incorporation</B>
</DIV>


<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><B>No.&nbsp;4713 of 1945&#150;1946</B>

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>I
hereby Certify that &#147;WESTERN INDIA VEGETABLE PRODUCTS
LIMITED&#148; is
this day incorporated under the Indian Companies Act, VII of 1913,
and that the Company is Limited.</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>Given
under my hand at Bombay this Twenty-ninth day of December
One thousand nine hundred and forty-five.</B>
</DIV>
<P><DIV style="position: relative; float: left; width: 45%">

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><IMG src="f42472f4247204.gif" alt="(SEAL)">
</DIV>

</DIV>
<DIV style="position: relative; float: right; width: 45%">

<DIV align="center" style="font-size: 10pt; margin-top: 18pt">&nbsp;<BR>
&nbsp;<BR>
&nbsp;
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>Sd/-<BR>
BEHRAMJI M. MODI<BR>
Registrar of Companies</B>
</DIV>

</DIV>
<BR clear="all"><BR>

<DIV align="center" style="font-size: 10pt; margin-top: 6pt; margin-bottom: 3pt">&#091;Certified
true copy&#093;
</DIV>
<DIV align="center" style="font-size: 10pt; margin-top: 6pt"><IMG src="f42472f4247205.gif" alt="-s- v. Ramachandran">
</DIV>



<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>



<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: Helvetica,Arial,sans-serif">


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>WIPRO LIMITED</B>
</DIV>


<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><B>MEMORANDUM OF ASSOCIATION</B>

</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="5%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="90%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center">Clause</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center">Page</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom"><!-- Blank Space -->
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">I</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Name of the Company</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">1</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">II</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Registered Office</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">1</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">III</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Objects</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">1</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">IV</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Members liability limited</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">8</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">V</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Capital</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">8</TD>
</TR>
<TR valign="bottom">
    <TD colspan="5" align="center"><B>ARTICLES OF ASSOCIATION</B><BR></TD>
</TR>
<TR valign="bottom">
    <TD colspan="5" align="center"><B>I. CONSTITUTION OF THE COMPANY</B><BR></TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">Article</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">1</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Table A not to apply</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">10</TD>
</TR>
<TR style="font-size: 6pt" valign="bottom">
<TD>&nbsp;</TD>
</TR>


<TR valign="bottom">
    <TD colspan="5" align="center"><B>II</B><B><I>. </I></B><B>INTERPRETATION</B><BR></TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">2</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Interpretation Clause</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">10</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">3</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Copies of the Memorandum and Articles to be furnished</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">12</TD>
</TR>
<TR style="font-size: 6pt" valign="bottom">
<TD>&nbsp;</TD>
</TR>


<TR valign="bottom">
    <TD colspan="5" align="center"><B>III. CAPITAL</B><BR></TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">4</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Capital and Shares</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">12</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">5</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Provisions of Sections 85 to 90 of the Act to apply</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">12</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">6</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Restrictions on allotment</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">13</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">7</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Commission for placing shares</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">13</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Commencement of Business</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">13</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">8</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Company not to give financial assistance for purchas of its own shares</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">14</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">9</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Payment of interest out of Capital</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">14</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">10</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Issue of shares at a premium</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">15</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">11</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Issue of redeemable preference shares</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">15</TD>
</TR>
<TR style="font-size: 6pt" valign="bottom">
<TD>&nbsp;</TD>
</TR>


<TR valign="bottom">
    <TD colspan="5" align="center"><B>IV. SHARES AND SHARE-HOLDERS</B><BR></TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">12</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Register of Members</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">15</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">13</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Shares to be numbered progressively</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">15</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">14</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Shares at the disposal of the Directors</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">15</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">15</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Every Share transferable etc.</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">16</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">16</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Application of premiums received on issue of Shares</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">16</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">17</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Further issue of Capital</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">16</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">18</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Sale of fractional Shares</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">16</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">19</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Acceptance of Shares</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">16</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">20</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Deposit and call, etc. to be a debt payable immediately</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">17</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">21</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Calls on Shares of the same class to be made on  uniform basis</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">17</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">22</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Return of allotment</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">17</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">23</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Payment of calls</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">17</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">24</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Instalments on shares to be duty paid</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">17</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">25</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Liability of members</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">17</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">26</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Liability of Joint-holders</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">17</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">27</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Registered holder only the owner of the shares</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">17</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Trusts not recognised</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">18</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">28</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Certificate of Shares</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">18</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">29</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Members&#146; right to certificate</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">I8</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">May be delivered to any one of joint-holders</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">18</TD>
</TR>
<TR style="font-size: 6pt" valign="bottom">
<TD>&nbsp;</TD>
</TR>


<TR valign="bottom">
    <TD colspan="5" align="center"><B>V. CERTIFICATES</B><BR></TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">30</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Issue of new certificate in place of one defaced, lost or destroyed</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">18</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">31</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Directors may waive fees</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">19</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: Helvetica,Arial,sans-serif">


<DIV align="center" style="font-size: 10pt; margin-top: 18pt">ii
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="5%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="90%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center">Article</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center">PARTICULARS</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center">Page</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom"><!-- Blank Space -->
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">32</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Endorsements on Certificate</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">19</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">33</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Directors to comply with rules</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">19</TD>
</TR>
<TR style="font-size: 6pt" valign="bottom">
<TD>&nbsp;</TD>
</TR>


<TR valign="bottom">
    <TD colspan="5" align="center"><B>VI. CALLS ON SHARES</B><BR></TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">34</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Directors may make calls</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">19</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">35</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Call to date from resolution</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">19</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">36</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Notice of Call</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">19</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">37</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Provisions applicable to instalments</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">19</TD>
</TR>
<TR valign="bottom">

<TD align="center"><DIV style="margin-left:15px; text-indent:-15px">38</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">When interest on call or instalments payable</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">19</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">39</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Money due to members from the Company may be applied in payment of call or instalment</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">20</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">40</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Part payment on account of call, etc. not to preclude forfeiture</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">20</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">41</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Proof on trial of suit on money on Shares</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">20</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">42</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Payment of unpaid share capital advance</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">20</TD>
</TR>
<TR style="font-size: 6pt" valign="bottom">
<TD>&nbsp;</TD>
</TR>


<TR valign="bottom">
    <TD colspan="5" align="center"><B>VII. FORFEITURE OF AND LIEN ON SHARES</B><BR></TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">43</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">If call or instalment not paid, notice to be given to member</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">21</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">44</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Term of Notice</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">21</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">45</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">In default of payment; Share may be forfeited</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">21</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">46</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Notice of Forfeiture</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">21</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">47</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Forfeited shares to become property of the Company and may be sold etc.</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">22</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">48</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Forfeiture may be remitted or annulated</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">22</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">49</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Members still liable to pay money due notwithstanding the forfeiture</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">22</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">50</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Effect of Forfeiture</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">22</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">51</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Surrender of Shares</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">22</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">52</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Certificate of Forfeiture</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">22</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">53</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Title of purchaser and allottee for forfeited shares</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">22</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">54</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Company&#146;s lien on shares</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">23</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">55</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Lien enforced by sale</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">23</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">56</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Application of sale proceeds</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">23</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">57</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Execution of instalment of transfer</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">23</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">59</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Validity of sale of such shares&#146;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">23</TD>
</TR>
<TR style="font-size: 6pt" valign="bottom">
<TD>&nbsp;</TD>
</TR>


<TR valign="bottom">
    <TD colspan="5" align="center"><B>VIII. TRANSFER AND TRANSMISSION OF SHARES</B><BR></TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">59</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Register of Transfers</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">24</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">60</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Instrument of transfer to be executed by transferor and transferee</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">24</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">61</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Shares to be transferred by an instrument in writing</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">24</TD>
</TR>

<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">62</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Death of one or more joint-holders</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">24</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">63</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Title to shares of deceased member</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">24</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">64</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Registration of person entitled to shares otherwise than by transfer (transmission clause)</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">24</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">65</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Evidence of transmission to be verified</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">25</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">66</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Rights of such person</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">25</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">67</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Procedure on application for transfer</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">25</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">68</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Transfer to be left at office with Certificate and with evidence of title</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">25</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">69</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Directors may decline to register transfers</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">26</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">70</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Transferor to remain holder of shares till transfer registered</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">26</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">71</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Registered Transfer to remain with Company</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">26</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">72</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Fee on transfer</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">27</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: Helvetica,Arial,sans-serif">


<DIV align="center" style="font-size: 10pt; margin-top: 18pt">iii
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="5%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="90%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center">Article</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center">PARTICULARS</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center">Page</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom"><!-- Blank Space -->
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">73</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Transfer books and Register may be closed for not more than 45 days in the year</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">27</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">74</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">The Company not liable for disregard of any notice prohibiting registration of a transfer</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">27</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">75</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Transfer of debentures</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">27</TD>
</TR>
<TR style="font-size: 6pt" valign="bottom">
<TD>&nbsp;</TD>
</TR>


<TR valign="bottom">
    <TD colspan="5" align="center"><B>IX. INCREASE AND REORGANISATION OF CAPITAL</B><BR></TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">76</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Company may alter to capital in certain ways</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">27</TD>
</TR>
<TR valign="top">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">77</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Increase of capital by the Company
and how carried into effect, on what conditions new shares may be
issued, when to be offered to existing member</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">28</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">78</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Increase of capital by the Directors and how carried into effect</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">28</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">79</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Further issue of capital</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">29</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">80</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Share Premium account to be maintained</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">29</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">81</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">How far new shares in original capital</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">29</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">82</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Notice of increase of Capital</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">29</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">83</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Transfer of Stock</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">29</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">84</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Rights of Stock-holder</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">30</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">85</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Holder of share warrant not be a member, share warrant issued to bearer&#146;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">30</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">86</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Directors may make rules for issue of fresh share warrant or coupons</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">30</TD>
</TR>
<TR style="font-size: 6pt" valign="bottom">
<TD>&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD colspan="5" align="center"><B>X. REDUCTION OF CAPITAL</B><BR></TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">87</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Reduction of Capital</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">30</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">88</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Provisions relating to the redemption of preference shares</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">31</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">89</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Division and sub-division</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">32</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">90</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Notice to Registrar of
consolidation of Share Capital, conversion of Shares into stock etc.</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">32</TD>
</TR>
<TR style="font-size: 6pt" valign="bottom">
<TD>&nbsp;</TD>
</TR>


<TR valign="bottom">
    <TD colspan="5" align="center"><B>XI. MODIFICATION OF RIGHTS</B><BR></TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">91</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Power to modify rights</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">33</TD>
</TR>
<TR style="font-size: 6pt" valign="bottom">
<TD>&nbsp;</TD>
</TR>


<TR valign="bottom">
    <TD colspan="5" align="center"><B>XII. JOINT HOLDERS</B><BR></TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">92</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Joint Holders</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">33</TD>
</TR>
<TR style="font-size: 6pt" valign="bottom">
<TD>&nbsp;</TD>
</TR>


<TR valign="bottom">
    <TD colspan="5" align="center"><B>XIII. GENERAL MEETINGS</B><BR></TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">93</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Statutory Meeting</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">34</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">94</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Annual General Meeting</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">34</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">95</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Power of Central Government to call General Meeting</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">34</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">96</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Sections 171 to 186 of the Act shall apply to meetings</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">35</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">97</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Calling of Extraordinary General Meeting on requisition</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">35</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">98</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Length of Notice for calling meeting</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">36</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">99</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Business to be transacted at meetings</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">38</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">100</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Circulation of members&#146; resolutions</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">38</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">101</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Certificate conclusive as to Meeting have been duly called</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">38</TD>
</TR>
<TR style="font-size: 6pt" valign="bottom">
<TD>&nbsp;</TD>
</TR>


<TR valign="bottom">
    <TD colspan="5" align="center"><B>XIV. PROCEEDINGS AT GENERAL MEETINGS</B><BR></TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">102</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Business which may not be transacted at the meeting</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">38</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">103</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Presence of Quorum</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">38</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">104</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">If Quorum not present when meeting to be dissolved and when to be adjourned</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">38</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">105</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Adjourned meeting to transact business even if no quorum present</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">38</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">106</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Chairman on General Meeting</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">39</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">107</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">When Chair vacant business confined to election of Chairman</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">39</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: Helvetica,Arial,sans-serif">


<DIV align="center" style="font-size: 10pt; margin-top: 18pt">iv
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="5%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="90%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center">Article</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center">PARTICULARS</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center">Page</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom"><!-- Blank Space -->
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">108</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Chairman with consent of members may adjourn meeting</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">39</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">109</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Notice of adjournment</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">39</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">110</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Every resolution most be proposed and seconded</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">39</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">111</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Voting to be by show of bands</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">39</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">112</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Poll</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">40</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">113</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Casting vote of the Chairman</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">41</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">114</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Minutes of proceedings of General Meetings, Board and other meetings</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">41</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">115</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Inspection of Minute Books of General Meetings</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">42</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">116</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Publication of reports of proceedings of General Meetings</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">42</TD>
</TR>
<TR style="font-size: 6pt" valign="bottom">
<TD>&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD colspan="5" align="center"><B>XV. VOTES OF MEMBERS</B><BR></TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">117</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Indebted members not to vote</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">42</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">118</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Restrictions on exercise of voting right in other cases to be void</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">42</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">119</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Vote of person of unsound mind</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">43</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">120</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Power of Court to older meeting to be called</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">43</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">121</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Representation of corporation</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">43</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">122</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Number of votes to which member is entitled</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">43</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">123</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Right to use votes differently</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">44</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">124</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Joint-holders&#146; Voting</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">44</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">125</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Votes of a person entitled to a share on transmission</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">44</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">126</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Proxies</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">44</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">127</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Instalment of proxy to be in writing</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">44</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">128</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Instrument of proxy to be deposited at the Registered Office</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">45</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">129</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Custody of the instrument of appointment</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">45</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">130</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Form of Proxy</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">45</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">131</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Vote of proxy how far valid</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">46</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">132</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Time for objection to vote</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">46</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">133</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Chairman sole judge of the validity of vote</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">46</TD>
</TR>
<TR style="font-size: 6pt" valign="bottom">
<TD>&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD colspan="5" align="center"><B>XVL. INTEREST OUT OF CAPITAL</B><BR></TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">134</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Payment of interest out of Capital</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">46</TD>
</TR>
<TR style="font-size: 6pt" valign="bottom">
<TD>&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD colspan="5" align="center"><B>XVII. DIVIDENDS AND CAPITALISATION</B><BR></TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">135</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">The Company in General meeting may declare a dividend</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">46</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">136</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Equal rights of shareholders</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">46</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">137</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Powers of Directors to limit dividend</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">46</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">138</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Dividend in proportion to the
amount paid up </TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">46</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">139</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Dividend out of profits only, and
not to carry interest what to be deemed profits</td>

    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">47</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">140</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Ad-interim dividend</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">47</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">141</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">No member to receive dividends
while indebted to the Company</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">47</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">142</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Retention of dividends until completion of transfer
 under the transmission clause</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">47</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">143</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Transfer must be registered to pass right to dividend</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">47</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">144</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Dividend when and how to be paid</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">47</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">145</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Notice of dividends</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">47</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">146</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Production of share certificate
when applying for dividends</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">48</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">147</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Any One of joint-holders of shares
may receive dividends</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">48</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">148</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Unclaimed dividend when to be used by the Company</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">48</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: Helvetica,Arial,sans-serif">

<DIV align="center" style="font-size: 10pt; margin-top: 18pt">v
</DIV>



<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="5%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="90%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center">Article</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center">PARTICULARS</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center">Page</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom"><!-- Blank Space -->
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">149</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Dividends payable in cash</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">48</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">150</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Dividend and call together - set off allowed</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">48</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">151</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Making of call special business</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">48</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">152</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Capitalisation</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">48</TD>
</TR>
<TR style="font-size: 6pt" valign="bottom">
<TD>&nbsp;</TD>
</TR>


<TR valign="bottom">
    <TD colspan="5" align="center"><B>XVIII. ACCOUNTS</B><BR></TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">153</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Accounts</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">49</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">154</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Inspection to Members when allowed</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">50</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">155</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Balance Sheet and Profit and Loss
Account to be laid before the Members</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">50</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">156</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Contents of Balance Sheet and Profit and Loss Account</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">50</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">157</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Balance Sheet and Accounts and Report how to be signed</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">50</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">158</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Right of Members to copies of
Balance Sheet and Auditors&#146; Report</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">51</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">159</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Copies of Balance Sheet etc. to be filed</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">51</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">160</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">When accounts to be deemed finally settled</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">51</TD>
</TR>
<TR style="font-size: 6pt" valign="bottom">
<TD>&nbsp;</TD>
</TR>


<TR valign="bottom">
    <TD colspan="5" align="center"><B>XIX. AUDIT</B><BR></TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">161</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Accounts when to be audited</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">51</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">162</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Appointment of Auditor</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">52</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">163</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Special Notice regarding Auditors</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">53</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">164</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Qualifications and disqualifications of Auditors</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">53</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">165</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Powers and rights of Auditors</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">53</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">166</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Duties of Auditors</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">53</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">167</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Reading and Inspection of Auditors&#146; Report</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">53</TD>
</TR>
<TR style="font-size: 6pt" valign="bottom">
<TD>&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD colspan="5" align="center"><B>XX. DIRECTORS, THEIR
QUALIFICATION <br>AND REMUNERATION</B><BR></TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">168</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Number of Directors</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">54</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">169</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Directors</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">54</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">170</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Directors of Mortgage Debentures</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">54</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">171</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Special Director</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">54</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">172</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Qualification of a Director</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">54</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">173</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Register of Directors etc., and the Directors&#146; Shareholdings</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">55</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">174</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Directors&#146; fees for attending Meeting</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">55</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">175</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Further remuneration as determined by General Meeting</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">55</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">176</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Remuneration of Committee</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">55</TD>
</TR>
<TR style="font-size: 6pt" valign="bottom">
<TD>&nbsp;</TD>
</TR>


<TR valign="bottom">
    <TD colspan="5" align="center"><B>XXI. APPOINTMENT AND ROTATION OF DIRECTORS</B><BR></TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">177</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Appointment of Directors</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">55</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">178</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Appointment of Directors and proportion to retire by rotation</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">56</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">179</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Provision regarding Directors retiring by rotation</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">56</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">180</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Removal of Directors</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">57</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">181</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Company may fill up a vacancy</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">57</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">182</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Notice of candidature when to be given</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">57</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">183</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Consent of candidate for Directorship to be filed with Registrar</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">57</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">184</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Appointment of Directorship to be voted on individually</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">58</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">185</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Directors may appoint additional Directors</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">58</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">186</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Filling up of casual vacancies</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">58</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">187</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Appointment of Alternate Director</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">58</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">188</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Director may act notwithstanding vacancy</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">59</TD>
</TR>
<TR style="font-size: 6pt" valign="bottom">
<TD>&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD colspan="5" align="center"><B>XXII. VACATION OF OFFICE BY DIRECTORS</B><BR></TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">189</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Resignation of Directors</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">59</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">190</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Removal of Directors</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">59</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: Helvetica,Arial,sans-serif">


<DIV align="center" style="font-size: 10pt; margin-top: 18pt">vi
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="5%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="90%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center">Article</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center">PARTICULARS</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center">Page</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom"><!-- Blank Space -->
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">191</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Vacation of Office by Directors</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">59</TD>
</TR>
<TR style="font-size: 6pt" valign="bottom">
<TD>&nbsp;</TD>
</TR>


<TR valign="bottom">
    <TD colspan="5" align="center"><B>XXIII. PROCEEDINGS OF DIRECTORS</B><BR></TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">193</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Meeting of Directors</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">61</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">194</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Notice of Meetings</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">61</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">195</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Quorum for Meetings</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">61</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">196</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Procedure of Meeting adjourned for want of Quorum</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">61</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">197</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Power of Quorum</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">61</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">198</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">When Meetings to be convened</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">61</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">199</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Question how decided</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">62</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">200</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Chairman of Directors&#146; Meetings</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">62</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">201</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Directors may apoint Committees</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">62</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">202</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Meetings and Proceedings of Committee bow governed</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">62</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">203</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Resolutions by circular</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">62</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">204</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Validity of acts of Directors</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">62</TD>
</TR>
<TR valign="bottom">

<TD align="center"><DIV style="margin-left:15px; text-indent:-15px">205</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Minutes of Proceedings of the Board and the Committee to be valid</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">63</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">206</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Register of Directors and Managing Agents</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">63</TD>
</TR>
<TR style="font-size: 6pt" valign="bottom">
<TD>&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD colspan="5" align="center"><B>XXIV. DIRECTORS&#146; DISQUALIFICATIONS</B><BR></TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">207</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Directors not to assign Office</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">63</TD>
</TR>
<TR valign="bottom">

<TD align="center"><DIV style="margin-left:15px; text-indent:-15px">208</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Loans to Directors</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">63</TD>
</TR>


<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">209</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Board&#146;s sanction to be
required for certain contracts in which particular Directors are interested</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">64</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">210</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Directors not to hold office of profit</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">64</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">211</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Directors may contract with the Company</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">64</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">212</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Duty of Directors etc. to make disclosure</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">65</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">213</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Disclosure of interests by Director</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">65</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">214</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Interested Director not to
participate or vote in Board&#146;s Proceedings</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">66</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">215</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Certain powers to be exercised by Board only at Meeting</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">66</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">216</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Restrictions on Powers of Board</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">67</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">217</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Appointment of selling Agents to require approval of</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Company in General Meeting</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">67</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">218</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Directors may be Directors of
Company promoted by the Company</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">67</TD>
</TR>
<TR style="font-size: 6pt" valign="bottom">
<TD>&nbsp;</TD>
</TR>


<TR valign="bottom">
    <TD colspan="5" align="center"><B>XXV. BORROWING POWERS OF DIRECTORS</B><BR></TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">219</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Power to Borrow</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">67</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">220</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Mortgage of uncalled capital</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">69</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">221</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Indemnity may be given</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">69</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">222</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Register of Mortgages and Debentures to be kept</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">70</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">223</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Registration of charges</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">70</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">224</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Trust not recognised</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">71</TD>
</TR>
<TR style="font-size: 6pt" valign="bottom">
<TD>&nbsp;</TD>
</TR>


<TR valign="bottom">
    <TD colspan="5" align="center"><B>XXVI. POWERS OF DIRECTORS</B><BR></TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">225</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Business of the Company to be managed by Directors</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">72</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">226</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Specified Powers to Directors</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">73</TD>
</TR>
<TR style="font-size: 6pt" valign="bottom">
<TD>&nbsp;</TD>
</TR>


<TR valign="bottom">
    <TD colspan="5" align="center"><B>XXVII. DUTIES OF DIRECTORS</B><BR></TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">227</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Duties of Directors</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">80</TD>
</TR>
<TR style="font-size: 6pt" valign="bottom">
<TD>&nbsp;</TD>
</TR>


<TR valign="bottom">
    <TD colspan="5" align="center"><B>XXVIII. MANAGING DIRECTORS</B><BR></TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">228</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Power to appoint Managing Director</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">80</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">229</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">What provisions he will be subject to</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">80</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">230</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Remuneration of Managing Director</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">80</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">231</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Powers and duties of Managing Directors</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">81</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">232</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Management</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">81</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: Helvetica,Arial,sans-serif">


<DIV align="center" style="font-size: 10pt; margin-top: 18pt">vii
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="5%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="90%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center">Article</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center">PARTICULARS</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center">Page</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom"><!-- Blank Space -->
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">233</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Certain persons not to be appointed Managing Directors</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">81</TD>
</TR>
<TR style="font-size: 6pt" valign="bottom">
<TD>&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD colspan="5" align="center"><B>XXIX. MANAGING AGENTS</B><BR></TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">234</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">to</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">DELETED</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">81</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">241</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">&nbsp;</TD>
</TR>
<TR style="font-size: 6pt" valign="bottom">
<TD>&nbsp;</TD>
</TR>


<TR valign="bottom">
    <TD colspan="5" align="center"><B>XXX. SECRETARIES AND TREASURERS</B><BR></TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">242</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">DELETED</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">81</TD>
</TR>
<TR style="font-size: 6pt" valign="bottom">
<TD>&nbsp;</TD>
</TR>


<TR valign="bottom">
    <TD colspan="5" align="center"><B>XXXI. SECRETARY</B><BR></TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">243</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Secretary</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">81</TD>
</TR>
<TR style="font-size: 6pt" valign="bottom">
<TD>&nbsp;</TD>
</TR>


<TR valign="bottom">
    <TD colspan="5" align="center"><B>XXXII. INDEMNITY TO AND PROTECTION OF</B><BR></TD>
</TR>
<TR valign="bottom">
    <TD colspan="5" align="center"><B>DIRECTORS AND OFFICERS</B><BR></TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">244</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Indemnity</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">82</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">245</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Indemnity to Directors and other Officers</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">82</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">246</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Directors and other Officers not responsible for acts of others</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">82</TD>
</TR>
<TR style="font-size: 6pt" valign="bottom">
<TD>&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD colspan="5" align="center"><B>XXXIII. SEAL</B><BR></TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">247</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Title Seat, its custody and use</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">82</TD>
</TR>
<TR style="font-size: 6pt" valign="bottom">
<TD>&nbsp;</TD>
</TR>


<TR valign="bottom">
    <TD colspan="5" align="center"><B>XXXIV. NOTICES AND SERVICE OF DOCUMENTS</B><BR></TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">248</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Members to notify address for registration</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">83</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">249</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Notice</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">83</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">250</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Transfer of successors in title of Members bound by notice given to previous holders</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">84</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">251</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">When Notice may be given by advertisement</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">84</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">252</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Service of Notice good notwithstanding death of Member</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">84</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">253</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Signature to Notice</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">84</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">254</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Service of documents on Company</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">84</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">255</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">How time to be counted</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">84</TD>
</TR>
<TR style="font-size: 6pt" valign="bottom">
<TD>&nbsp;</TD>
</TR>


<TR valign="bottom">
    <TD colspan="5" align="center"><B>XXXV. SECRECY CLAUSE</B><BR></TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">256</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Secrecy Clause</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">85</TD>
</TR>
<TR style="font-size: 6pt" valign="bottom">
<TD>&nbsp;</TD>
</TR>


<TR valign="bottom">
    <TD colspan="5" align="center"><B>XXXVI. WINDING UP,</B><BR></TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">257</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Distribution of Assets</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">85</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">258</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Distribution of Assets in specie</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">85</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">259</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Liquidator may sell for shares in another company</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">86</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">260</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Sale under Sections 494 and 507 of the Companies Act, 1956</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">86</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>



<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>



<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: Helvetica,Arial,sans-serif">

<DIV align="right">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="35%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="15%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="80%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Government of India,</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Special Adhesive</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Stamp of Rs. 45/-</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Sd/-</TD>
</TR>
<TR valign="bottom">
    <TD colspan="3" valign="top" align="left">Asstt./Supdt. of Stamps, Bombay</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>THE INDIAN COMPANIES ACT. 1913</B>
</DIV>


<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><B>MEMORANDUM OF ASSOCIATION</B>

</DIV>

<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><B>OF</B>

</DIV>

<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><B>WIPRO LIMITED</B>

</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="1%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="75%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="20%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">1.
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">The Name of the Company is <b>WIPRO
LIMITED</b>.
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><I>Name of the Company</I></TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">2.
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">The Registered Office of the Company will
be situated in the State of KarnataKa.
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><I>Registered Office</I></TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">3.
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">The Objects for which the Company is
established are the following :
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><I>Objects </I>of <I>the Company</I></TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(a)</TD>
    <TD colspan="2">To purchase or otherwise acquire and take over any lands (whether freehold,
leasehold, or otherwise) with or without buildings and plant; machinery, factory or
factories or any other property for the purposes of the business of the Company.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(b)</TD>
    <TD colspan="2">To carry on the business of extracting oil either by crushing or by chemical or
any other processes from copra, cottonseed, linseed, castor- seed, ground-nuts or any
other nut or seed or other oil bearing substance whatsoever.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(c)</TD>
    <TD colspan="2">To manufacture and deal in hydrogenated oil, vegetable oils, vegetable ghee
substitutes, vegetable products and butter-substitutes, glycerine, lubricating oils,
greases, boiled, oils, varnishes and all other kinds of oils, and oil preparations and
products including bye-products of whatsoever description and Kind and to carry on the
business of manufacturers and dealers in all Kinds of oils, oil seeds and oil products
and the cultivation of oil-seeds and the business of buyers, sellers and dealers of
oil seeds and oil-products including by-products.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(c)</TD>
    <TD width="3%">(i)&nbsp;</TD>
    <TD>To carry on business as manufacturers, sellers, buyers, exporters,
importers, and dealers of fluid power products of ail types and kinds whether pneumatic
or hydraulic and which are worked, propelled, and energised by fluids or gases and in
particular the following pneumatic and hydraulic cylinders, air compressors, valves,
hydraulic pumps, tools, regulators, filters, rotary tables, drill feeds, hydromotors,
hydraulic and pneumatic equipments and all accessories and components required in
connection therewith.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(c)</TD>
    <TD width="1%">(ii)&nbsp;</TD>
    <TD>To carry on business as mechanical engineers, tool makers, brass and
metal founders, mill-makers. mill-wrighters, machinists, metallurgists; to carry on
business of machine operations like turning, boring, reaming, tapping, drilling,
milling, shaping, cutting, grinding, honing, lapping, super finishing, buffing and to
carry on and undertake processes like electro-plating, electro-forming,
electro-etching, hardening, phosphating, nitriding, blackening,</TD>
</TR>

</TABLE>
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

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<DIV style="font-family: Helvetica,Arial,sans-serif">

<DIV align="center" style="font-size: 10pt; margin-top: 18pt">&nbsp;2
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD>tempering, die-casting, shell-moulding, thermo-forming and all foundry operations
and to buy, sell, manufacture, repair, convert, alter, let on hire
and deal in
machines, machine tools and hardware of all kinds.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(c)</TD>
    <TD width="3%">(iii)&nbsp;</TD>
    <TD>To carry on the trade or business of manufacturing and distributing, chemists, and
druggists, oil and colourmen, either wholesale or retail, together with all or any trades or
business usually carried on in connection therewith and to prepare, manufacture, import,
produce, buy, sell and deal in all kinds of raw materials, chemicals, compounds, synthetic
products, salts, acids, mineral, vegetable, organic and inorganic alkalies, chemical and
surgical materials and appliances and patent or proprietory medicines, pigments, varnishes,
lacquers, manufacturing plants, chemicals, scientific, electrical, surgical and optical
instruments and apparatus and other like articles and things and colour grinders, makers and
dealers in proprietory articles of all kinds and of electrical, chemical, photographical,
surgical and scientific apparatus and materials and to buy, sell, manufacture, refine,
manipulate, import, export and deal in all substances and things capable of being used in by
such business as aforesaid and required by any customers of or persons having dealings with
the Company either by wholesale or retail.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(c)</TD>
    <TD width="3%">(iv)&nbsp;</TD>
    <TD>To carry on business as exporters, sellers, dealers and buyers in all types
and kinds of goods, articles and things.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(c)</TD>
    <TD width="3%">(v)&nbsp;</TD>
    <TD>To carry on business in India and elsewhere as manufacturer, assembler, designer,
builder, seller, buyer, exporter, importer, factors, agents, hirers and dealers of digital and
analogue data processing devices and systems, electronic computers, mini and  micro computers,
micro-processors based devices and systems, electronic data processing equipment, central
processing units, memories, peripherals of all kinds, data communication equipment  control
systems, remote control systems, software of all kinds, including machine oriented and problem
oriented, software, data entry devices, data collecting systems, accounting and invoicing machines,
intelligent terminals, controllers, media, solid state devices, integrated circuits, transistors,
liquid crystals, liquid display systems, diodes, resistors, capacitors, transformers and all
related and auxiliary items and accessories including all components of electronic hardware and
appliance of any type and description.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(c)</TD>
    <TD width="3%">(vi)&nbsp;</TD>
    <TD>To carry on research and development activities on all aspects related to the
products business and objects of the Company.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(d)</TD>
    <TD colspan="2">To construct, equip and maintain mills, factories, warehouses, godowns, jetties and
wharves any other conveniences or erection suitable for any of the purpose of the Company.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(e)</TD>
    <TD colspan="2">To erect, purchase or take on lease, or otherwise acquire any mills, factories, works,
machinery, and any other real and personal property appertaining to the goodwill of, and any
interest in the business of refining and hydrogenating vegetable and other oils and
vegetable products.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(f)</TD>
    <TD colspan="2">To carry on all or any of the business of soap and candle makers, tallow merchants,
chemists, druggists, dry salters, oil-merchants, manufacturers of dyes, paints, chemicals
and explosives and manufacturers of and dealers in pharmaceutical, chemical, medicinal</TD>
</TR>

</TABLE>
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

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<DIV style="font-family: Helvetica,Arial,sans-serif">

<DIV align="center" style="font-size: 10pt; margin-top: 18pt">&nbsp;3
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>and other preparations or compounds, perfumery and proprietary articles and photographic
materials and derivatives and other similar articles of every description.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(g)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>To buy or otherwise acquire any oil or manure, mills or factories situate either in India,
Ceylon or elsewhere and all property business and rights in connection therewith.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(h)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>To exchange, sell, convey, assign or let on lease or leases or otherwise deal with the whole
or any part of the Company&#146;s immoveable property, and to accept
as consideration for, or in
lieu thereof, other land or cash or Government securities, or securities guaranteed by
Government or partly the one and partly the other or such other property or securities as may
be determined by the Company, and to take back or reacquire any
property so disposed of by
re-purchasing or leasing the same for such price or prices or consideration and on such terms
and conditions as may be agreed on.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(i)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>To sell or dispose of for cash, or on credit, or to contract for the sale and future delivery
of, or to send for sale to any part of India or elsewhere, all the articles and things and also
all other products or produce whatsoever of the company.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(j)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>To extend the business of the Company from time to lime by
purchasing or taking on lease
or otherwise acquiring any lands (whether freehold, leasehold or otherwise) with or without
buildings and machinery standing thereon situate in Bombay or any where in India, by
erecting mills or other buildings on such lands; by purchasing or taking on lease or
otherwise acquiring the business, goodwill and property of any private pressing or ginning
factory or other factory situate anywhere in India; and by amalgamation with, or purchasing
or otherwise acquiring the business goodwill, property and assets of any one or more Joint
Stock Company or Companies carrying on any similar business anywhere in India.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(k)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>To extend the business of the Company by adding to, altering or enlarging from time to
time all or any of the buildings, premises, plant  and machinery for the time being the
property of the Company; also by erecting new or additional buildings, on all or any of the
lands and premises for the time being the property of the Company and
also by expending from
time to time such sums of money as may be in the opinion of the Directors necessary or
expedient for the purposes of improving, adding to, altering, repairing, and maintaining
the buildings, plant, machinery and property of the Company.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(I)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>To undertake the payment of all rents and the performance of all covenants,
conditions and agreements contained in and reserved by any lease that may be granted or
assigned to or be otherwise acquired by the Company.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(m)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>To purchase the reversion or reversions, or otherwise acquire the freehold of fee
simple, of all or any part of the lands for the time being held under lease, or for an
estate less than a freehold estate by the Company.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(n)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>To carry on any other trade or business whatsoever as can in the opinion of the
Company be advantageously or conveniently carried on by the Company by way of extension of
or in connection with any of the Company&#146;s business or as calculated directly or
indirectly to develop any branch of the Company&#146;s business or to increase the value of or
turn to account any of the Company&#146;s assets property or rights and to</TD>
</TR>

</TABLE>
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

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<DIV style="font-family: Helvetica,Arial,sans-serif">

<DIV align="center" style="font-size: 10pt; margin-top: 18pt">&nbsp;4
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>acquire forests, forest products, timber and to establish saw
mills and dal factories.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(o)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>To carry on the business of tin makers, tin manufacturers, tin converters, colliery
proprietors, coke manufacturers, miners, smelters, engineers, tin plate makers and iron
founders in all their respective branches.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(p)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>To acquire and take over the whole or any part of the business, property and liabilities of
any person or persons, firm or corporation carrying on any business which this Company is
authorised to carry on or possessed of any property or rights suitable for the purposes of the
Company.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(q)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>To generate, accumulate and supply electricity or other energy for running the Company&#146;s
mills, factories, plant and machinery and for other purposes of the business of the Company
and to dispose of any surplus electricity or energy for any other purposes and on any terms
and conditions and in any manner as the Company thinks expedient or convenient and for such
purposes to acquire or construct, lay down, establish, fix and carry out all plant,
powerhouse, cables, wires, lines, accumulators, transformers, lamps and works and to carry on
the business of electricians and engineers and to do, execute and transact all such other
works, acts, matters and things as the Company may think expedient or convenient in connection
therewith.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(r)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>To acquire, establish and provide or otherwise arrange for transport of any kinds for the
purposes of the business of the Company and to construct any tines or works in connection
therewith and work the same by steam, gas, oil, electricity or other fuel or power.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(s)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>To manufacture or otherwise acquire and deal in containers and packing materials of any
kinds including those made of glass, earthenware, metal, cardboard etc.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(t)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>To sink wells and shafts, and to make, build and construct, lay down, acquire and
maintain, reservoirs, water works, cisterns, tanks, culverts,
filter-beds, main and other
pipes, plant, machinery and appliances and to execute and doall other works and things
expedient or convenient for obtaining, storing and delivering water for the purposes of the
business of the Company and to dispose of any surplus water for any other purposes and on any
terms and conditions and in any manner as the Company thinks expedient or convenient.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(u)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>To apply for, purchase or otherwise acquire any patents, brevets d&#146;invention, licences,
concessions and the like conferring an exclusive or non-exclusive or limited right to use,
any secret or other information as to any invention which may seem capable of being used for
any of the purposes of the Company, or acquisition of which may seem to be expedient or
convenient or calculated directly or indirectly to benefit this Company and to use,
exercise, develop or grant licences in respect of or otherwise turn to account the property
rights and information so acquired.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(v)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>To purchase or otherwise acquire from time to time and to manufacture and deal in all
such raw materials, stores, stock-in-trade, goods including finished goods, chattles and
effects as may be necessary, expedient or convenient for any business for the time being
carried on by the Company.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(w)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>To pay all costs, charges and expenses incurred or sustained in or about the promotion
and establishment of the Company, or which the</TD>
</TR>

</TABLE>
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

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<DIV style="font-family: Helvetica,Arial,sans-serif">

<DIV align="center" style="font-size: 10pt; margin-top: 18pt">&nbsp;5
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Company shall consider to be preliminary including therein the cost of advertising,
commissions for underwriting, brokerage, printing and stationery and expenses attendant
upon the formation of agencies and local boards.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(x)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>To enter into any partnership or any arrangement for sharing profits, union of interests,
joint ventures, reciprocal concession or otherwise with any person or persons or corporation
carrying on or engaged in or about to carry on or engage in, any business or enterprise which
this Company is authorised to carry on or engage in, or any business or transaction capable of
being conducted so as directly or indirectly to benefit or to be expedient for the purposes of
this Company and to take or otherwise acquire and hold shares or stock in or securities of and
to subsidise or otherwise assist any such Company and to sell, hold reissue with or without
guarantee or otherwise deal with such shares, stock or securities.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(y)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>To purchase or otherwise acquire all or any part of the
business, property and
liabilities of any person, company, society, or partnership formed for all or any of the
purposes within the objects of this Company and to conduct and carry on or liquidate and
wind up any such business.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(z)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>To enter into any arrangement with any Government or authorities, supreme, municipal, local
or otherwise that may seem conducive to the Company&#146;s objects or any of them and to obtain
from any such Government or authority any rights, privileges and concessions which the
Company may think fit desirable or expedient to obtain and to carry
out, exercise and comply
with any such arrangements, rights, privileges and concessions.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(a1)&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>To provide for the welfare of person in the employment of the Company, or formerly
engaged in any business acquired by the Company and the wives, widows, families or
dependants of such persons by grants of money, pensions or other payments, and by
establishing and supporting or aiding in the establishment and support of associations,
institutions, funds, trusts, conveniences and by providing or subscribing towards places of
instruction and recreation and hospitals, dispensaries, medical and other attendances and
other assistance, as the Company shall think fit and to form, subscribe to or otherwise aid
benevolent, religious, scientific, national, social, public, or other institutions or
objects, or any exhibitions which shall have any moral or other claims to support or aid by
the Company by reason of the locality of its operations or otherwise.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(a1)&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD>(i) To undertake, carry out, promote and sponsor rural development including any
programme for promoting the social and economic welfare or uplift of the public in any
rural area if the Directors consider fit likely to promote and assist rural development and
to give contributions to any recognised authority or institution and/or to incur any
expenditure on any programme of rural development and to assist execution and promotion
thereof either directly or through an independent agency or in other manner. Without
prejudice to the generality of the foregoing, the words &#145;rural area&#146; shall include such
areas as may be regarded as rural areas under Section&nbsp;35 CC of the Income-tax Act, 1961 or
any other law relating to rural development for the time being in</TD>
</TR>

</TABLE>
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

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<DIV style="font-family: Helvetica,Arial,sans-serif">

<DIV align="center" style="font-size: 10pt; margin-top: 18pt">&nbsp;6
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>force or as may be regarded by the Directors as rural areas and the Directors may
at their discretion in order to implement any of the above mentioned objects or
purposes transfer without consideration or at such fair or concessional value as
the Directors may think fit and divest the ownership of any property of the Company
to or in favour of any public or local body or authority or central or state
government or any public institutions or trust established under any law for the
time being in force or registered or approved by the central or state Government or
any authority specified in that behalf.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(a1)&nbsp;</TD>
    <TD width="3%">(ii)&nbsp;</TD>
    <TD>To undertake, carry out, promote and sponsor or assist any activity for the
promotion and growth of the national economy and for discharging what the Directors may consider to
be the social and moral responsibilities of the Company to the public or any section of the public
as also any activity which the Directors consider likely to promote national welfare or the social,
economic moral uplift of the public or any section of the public and by such means as the Directors
may think fit and the Directors may without prejudice to the generality of the foregoing undertake,
carry out, promote and sponsor any activity for publication of any books, literature, newspaper,
etc. for organising lectures or seminars, likely to advance these objects or for giving merit
awards, scholarships, loans or any other assistance to deserving students or other scholars or
persons to enable them to prosecute their studies or academic pursuits or researches or for
establishing, conducting or assisting any institution, fund, trust, etc. having any one of the
aforesaid objects as one of its objects by giving donations or otherwise in any other manner and
the Directors may at their discretion in order to implement any of the above mentioned objects or
purposes transfer without consideration or at such fair or concessional values as the Director may
think fit and divest the ownership of any property of the Company to or in favour of any public
institutions or trusts established under any law for the time being in force or registered or
approved by the central or state Government or any authority specified in that behalf.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(a2)&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>From time to time to subscribe or contribute to any charitable, benevolent or useful object
of a public character the support of which will, in the opinion of the Company, lend to
increase its repute or popularity among its employees, its customers or the public.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(a3)&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>To promote any company or companies for the purpose of acquiring alt or any of the
properties, rights and liabilities of this Company or for any other purpose which may seem
directly or indirectly calculated to benefit this Company.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(a4)&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Generally to purchase, take on lease or in exchange, hire or otherwise acquire any real
and personal property and any rights or privileges which the Company may think necessary,
expedient or convenient for the purpose of its business and in particular any lands,
buildings, easements, machinery, plant and stock-in-trade.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(a5)&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>To construct, maintain, alter, improve and enlarge any buildings or works necessary or
convenient for the purposes of the Company.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(a6)&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>To construct, carry out, maintain, improve, manage, work, control, and superintend any
roads, ways, tramways, railways, branches, or sidings.</TD>
</TR>

</TABLE>
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>



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<DIV style="font-family: Helvetica,Arial,sans-serif">



<DIV align="center" style="font-size: 10pt; margin-top: 18pt">7
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>bridges, reservoirs, canals, docks, wharves, water-courses,
hydraulic works, gas works, electric works, factories, mills, warehouses and other works and conveniences which may seem directly or indirectly conducive to any of the Company&#146;s objects and contribute to subsidize or otherwise assist or take part in such maintenance, management working, control and superintendence.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">(a7)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>To invest and deal with the moneys of the Company not immediately required in shares, stock, bonds, debentures obligations or other securities of any Company or association or in Government securities or in deposit with Banks or in any other instruments or commodities or in any other manner as may from time to time be determined.
</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">(a8)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>To lend money to such persons and on such terms as may seem expedient and in particular to customers and others having dealings with Company and to give any guarantee or indemnity as may seem expedient.
</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">(a9)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>To borrow or raise or secure the payment of money by mortgage
or by the issue of debentures or debenture stock perpetual or
otherwise, or in such other manner as the Company shall think fit and
for the purposes aforesaid to charge all or any of the Company&#146;s property or assets present and future including its uncalled and collaterally or further to secure any securities of the Company by a Trust Deed or other assurance and to redeem, purchase or pay off any such security.
</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">(a10)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Upon any issue of shares, debentures or other securities of the Company to employ brokers commission agents and underwriters and to provide its remuneration of such persons for their services by payment in cash, or by the issue of shares debentures or other securities of the Company, or by the granting of options, to take the same, or in any other manner allowed by law.
</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">(a11)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>To draw, make, accept endorse, discount, execute, and issue promissory notes, bills of exchange, hundies, bids of lading, warrants, debentures and other negotiable or transferable instruments.
</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">(a12)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>To undertake and execute any trusts the undertaking whereof may seem desirable or expedient, and either gratuitously or otherwise.
</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">(a13)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>To sell or dispose of the undertaking of the Company or any part thereof in such manner and for such consideration as the Company may think fit, and in particular for shares (fully or partly paid-up) debentures, debenture stock or securities of any other Company whether promoted by the Company for the purpose or not and to improve, manage, develop, exchange, lease, dispose of, turn to account or otherwise deal with all or any part of the property and rights of the Company.

</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">(a14)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>To adopt such means of making known the production of the Company as may seem expedient or convenient and in particular by advertising in the press by circulars, by purchase and exhibition of works of art or interest, by publication of books and periodicals and by granting prizes, rewards and donations.
</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">(a15)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>To establish and maintain local registers, agencies and branch places of business and procure the Company to be registered or recognized and carry on business in any part of the world.</TD>
</TR>

</TABLE>
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>


<DIV style="font-family: Helvetica,Arial,sans-serif">

<DIV align="center" style="font-size: 10pt; margin-top: 18pt">8
</DIV>



<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">(a16)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>To sell, improve, manage, develop, exchange, enfranchise, lease, mortgage, dispose of, turn to account or otherwise deal with all or any part of the property and rights of the Company.
</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">(a17)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>To place, to reserve or to distribute as dividend or bonus
among the members or otherwise to apply as the Company may from time
to time think fit, any moneys of the company including moneys received by way of premium on shares or debentures issued at a premium by the Company and any moneys received in respect of dividends accrued on forfeited shares and also moneys arising from the sale by the Company of forfeited shares or from unclaimed dividends.
</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">(a18)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>To distribute any of the Company&#146;s property among the members or specie or kind.
</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">(a19)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>To do all or any of the above things in any part of the world and ether as principals, agents, trustees or otherwise and either alone or in conjunction with others and by or through agents, sub-contractors, trustees or otherwise.
</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">(a20)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>To do all such other things as are incidental or the Company may think expedient or conducive to the attainment of the above objects or any of them.
</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">(a21)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>To carry on the business of leasing and hire purchase and to
acquire, to provide on lease or to provide on hire purchase basis, all types of industrial and office plant, equipment, machinery, vehicles, buildings and real estate, required for manufacturing, processing, transportation, and trading businesses and other commercial and service businesses.
</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>(a22, a23 and a24 Amended vide resolution passed by members at the Annual General Meeting held on July 21, 2005)</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">(a22)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>To undertake and carry on the business of providing all kinds of
information technology based and enabled services in India and
internationally, electronic remote processing services, eServices,
including all types of Internet-based/Web enabled services,
transaction processing, fulfillment services, business support
services including but not limited to providing financial and related
services of all kinds and description including billing services, processing services, database services, data entry
business-marketing services, business information and management services, training and consultancy services to businesses, organizations, concerns, firms, corporations, trusts, local bodies, states, governments and other entities; to establish and operate service processing centers for providing services for back office and processing requirements, marketing, sales, credit collection services for companies engaged in the business
of remote processing and IT enabled services from a place of business
in India or elsewhere, contacting &#038; communicating to and on behalf of overseas customers by voice, data image, letters using dedicated international private lines, and to handle business process management, remote help desk management; remote management; remote customer interaction, customer relationship management and customer servicing through call centers, email
based activities and letter/fax based communication, knowledge storage and</TD>
</TR>

</TABLE>
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>


<DIV style="font-family: Helvetica,Arial,sans-serif">

<DIV align="center" style="font-size: 10pt; margin-top: 18pt">9
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>management, data management, warehousing, search, integration and analysis for financial and non financial data.
</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">(a23)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>To act as information technology consultants and to operate a high technology data processing center for providing information processing, analysis, development, accounting and business information and data to customers in India and internationally; to carry on the business of gathering, collating, compiling, processing, analyzing, distributing, selling, publishing data and information and including conduct of studies and research, and marketing of information and services and providing access to information regarding financial operations and management, financial services, investment services business and commercial operations, financial status, creditworthiness and rating, consumer responses and management of businesses of all kinds and descriptions by whatever name called.
</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">(a24)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>To carry on the business as Internet service provider and undertake any and all kinds of Internet/web based activities and transactions; to design, develop, sell, provide, maintain, market, buy, import, export, sell and license computer software, hardware, computer systems and programs products, services and to give out computer machine time and to carry on the business of collecting, collating, storing, devising other systems including software programs and systems.
</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">(a25)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>To design, develop, fabricate, manufacture, operate, install, maintain, and assemble, export from and import, sell or otherwise deal in all kinds of end to end solutions including equipments, for water treatment including but not limited to ultra pure water, waste water treatment, water reuse and desalination and related activities.

</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>(Amended vide Special resolution by way of Postal Ballot held on June&nbsp;25 2008)</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">(a26)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>To design, develop, fabricate, manufacture, assemble, operate, maintain, export from and import,
sell or otherwise deal in and to act as consultant, designer, supplier, manufacturer,
importer or exporter of every goods and services including equipments in connection with all
types of renewal energy systems, food and agricultural processing systems such as but not limited to
Biofuel, wind energy, solar energy, geo-thermal energy systems, filing, sealing, coding, marking/labeling
and packaging machinery and equipment, agricultural tools/implements, machinery and equipment, agricultural
product processing including food processing project and equipment not limited to such purposes as power
generation, water heating, sorting, grading, washing, cutting, slicing, mixing, waxing, distillation,
fermentation, filteration, drying, concentration, heat exchangers, mixing, pasteurization systems, etc made of all types of steel and other special metals / non metals for all types of applications and user industries and to deliver these plant, equipment, machinery and services anywhere in the world.
</TD></TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">AND it is hereby declared that the word Company in this clause shall be deemed to include any partnership or other body of persons whether incorporated or not and whether domiciled in India or elsewhere and the intention is that the objects specified in each sub-clause or paragraph of this Clause shall except where otherwise expressed such sub-clause or paragraph, be in no ways limited or restricted by reference to or
inference from the terms of any other sub-clause or paragraph or the name of the Company but may be carried out in as full and ample a manner and construed in as wide a sense as if each of the said sub-clause or paragraphs defines the objects of a separate distinct and independent company.
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#091;Certified
true copy&#093;
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="45%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="45%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>

<TD align="left" valign="top"><IMG src="f42472f4247207.gif" alt="-s- V. Ramachandran"></TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>



<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>



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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: Helvetica,Arial,sans-serif">


<DIV align="center" style="font-size: 10pt; margin-top: 18pt">&nbsp;10
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Members Liability limited
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Capital (Amended vide Resolution Passed by Members at the Annual General Meeting held On July&nbsp;21, 2005
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">4.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The liability of the members is limited</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">5.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Authorised Share Capital of the Company is
Rs.3550,000,000 (Rupees Three thousand five
hundred and fifty million only) divided into
1650,000,000 (One thousand five hundred and
fifty million) equity shares of Rs.2/- (Rupees
Ten) each and 25,000,000 (Twenty five million)
preference shares of Rs. 10/- (Rupees Ten)
each, with power to increase and reduce or
consolidate or sub-divide the capital of the
Company and to divide the shares in the
Capital for the time being into several
classes and to attach thereto respectively
such preferential, deferred, qualified or
special rights, privileges or conditions as
may be determined by or accordance with the
Articles of Association of the Company for the
time being and to verify, modify or abrogate
any such rights, privileges or conditions in
such manner as may for the time being be
permitted by the Act or provided by the
Articles of Association of the Company for the
time being.</TD>
</TR>

</TABLE>
</DIV>
<DIV align="right" style="font-size: 10pt; margin-top: 6pt">[Certified
true copy ]</div>
<DIV align="right" style="font-size: 10pt; margin-top: 12pt"><IMG src="f42472f4247206.gif" alt="-s- V. Ramachandran">
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

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<DIV style="font-family: Helvetica,Arial,sans-serif">




<DIV align="center" style="font-size: 10pt; margin-top: 18pt">&nbsp;11
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We, the several persons,
whose names and addresses are subscribed thereto, are
desirous or being formed into a Company in pursuance of this Memorandum of Association and we respectively agree
to take the number of shares in the Capital of the Company set opposite to our
respective names.</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="23%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="23%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="22%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="23%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center">Number</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center">of Shares</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center">Address and</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center">taken by</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center">description of</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center">each</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center" style="border-bottom: 1px solid #000000">Names </TD>
    <TD>&nbsp;</TD>

<TD nowrap align="center" style="border-bottom: 1px solid #000000">subscribers</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000">subscriber</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000">Witness</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Sd. R. M. Chinoy</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Radio House,</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">50</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Sd. N. P. Vansta</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Apollo Bunder,</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Fort, Bombay,</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Director, Indian <br>Radio &#038;
Cable <br>Communication Co., Ltd.</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom" style="padding-top: 0em"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom" style="padding-top: 0em">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Sd. Pranlal Devkaran Nanjee</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">17, Elphinstone circle,</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">100</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Sd. N. P. Vansta</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:60px; text-indent:-15px"></DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Fort, Bombay,</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Banker.</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom" style="padding-top: 0em"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom" style="padding-top: 0em">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Sd. Behram N. Karanjia</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">17-19, Bornanji</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">50</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Sd. N. P. Vansta</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Master Road, Kalba-devi Road, Bombay-2</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">General Merchant.</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom" style="padding-top: 0em"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom" style="padding-top: 0em">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Sd. Ratansey Karsondas Vlssanji</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">9, Wallace Street,</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">50</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Sd. N. P. Vansta</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:90px; text-indent:-15px"></DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Fort, Bombay,</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Director, Wallace <br>Flour Mills, Ltd.</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom" style="padding-top: 0em"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom" style="padding-top: 0em">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Sd. Dewjee Tokarsee Mooljee</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">17, Bazargate Street,</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">50</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Sd. N. P. Vansta</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:90px; text-indent:-15px"><I></I></DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Fort, Bombay</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">General Merchant.</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom" style="padding-top: 0em"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom" style="padding-top: 0em">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Sd. Ratilal Mulji Gandhi</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">C/o Messrs R. Ratilal</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">100</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Sd. N. P. Vansta</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:75px; text-indent:-15px"></DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&#038; Co. Teju Kaya</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">- .</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Building, Chinch <br>Bunder Road,</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Bombay-9</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">General Merchant.</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom" style="padding-top: 0em"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom" style="padding-top: 0em">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Sd. Mohamed
Husein <br>Hasham Premji</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Botawala Building,<br>8. Elphinstone Circle,</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">100</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Sd. N. P. Vansta</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:105px; text-indent:-15px"></DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Fort, Bombay,</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">General Merchant.</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>

<TR valign="bottom" style="padding-top: 0em"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom" style="padding-top: 0em">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Sd. Gangaram Vallabhji</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Botawala Building,</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">50</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Sd. N. P. Vansta</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">8. Elphinstone Circle,</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Fort, Bombay,</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Merchant.</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 12pt">Dated the 21st day of December&nbsp;1945.</DIV>



<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>



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