1. In these regulations, unless the context otherwise requires, words of expressions used shall bear the same meanings as in the Companies Act, 1956 or any statutory modification thereof in force at the date at which these regulations become binding on the Company.
2. Subject as hereinafter provided, the regulations Act, 1956 shall apply to Private Company, in the same manner and to the same extent as if they were contained in this duly registered Articles.
3. Regulations 21, 36 to 43, 64, 71 and 84 of table ’A’ shall not apply to the company and the regulations hereafter contained shall be applicable.
4. The Company is a private Company within the meaning of Section3 (iii) of the Companies Act, 1956 and accordingly.

(I)                The number of member of the Company excluding persons who having been formerly in the employment of the Company were members of the Company while in that employment and have continued to be member after the employment ceased, and exclusive of persons in the employment of the Company, shall be limited to fifty, provided that for the purpose of the provisions, when two or more persons hold one or more shares in the Company jointly, they shall be treated as a single member; and

(II)             No invitation shall be issued to the public to subscribe for any shares, debentures of the Company; and

(III)           The right to transfer the share of the Company is restricted in the manner and to the extent hereinafter appearing.

5. The authorized share capital of the Company is Rs.3,00,00,000/-(Rupees Three crores only) divided in to 30,00,000(Thirty lakhs) Equity Shares of Rs.10/-(Rupees Ten) each, with power to increase or reduce the capital, subject to the provisions of the Company Act, 1956.
6. The Company shall not be bound by or recognize any equitable, contingent, future or partial interest in any fractional part of a shares or(except only as by these presents otherwise expressly provided) any other right in respect of any share except an absolute right to the entirely thereof as the Registered Holder.
7. The shares shall be under the control of Directors who may allot or otherwise dispose of the same to such persons as such times and generally on such terms and conditions as the Directors think fit.