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Memorandum of Association of KSFIC

  1. To establish, administer, own and run industries, for manufacturing Forest products.
  2. To undertake economic and scientific exploitation of the Forest Resources and to set up organizations to undertake the work of felling, conversion, hauling and transport of timber, poles, firewood and all kinds of materials from the Forests in Mysore State.
  3. To carry on the business of manufacturers and dealers in timber, pulpwood, matchwood, rubber, sandalwood etc., and Forest products like plywood, paper, rayon, veneers, fibers, sandalwood products, sandal oil, particle boards, rubber products, cashew nuts, cocoa, matches and such other products of every description and to deal as traders, merchants, importers and exporters.
  4. To establish and run factories for the production of fodder pellets, agave fibers, essential oils and such other processing and manufacturing units, using other kinds of Minor Forest Produce.
  5. To promote companies, firms, establishments concerns or undertakings for the purpose of development of industries, based on forest produce and to assist and finance any individual firm of company, with capital, loan, credit and resources.
  6. To take over, develop and manage government or private factories farms, estates, gardens, forests, plantations and other establishments or concerns, manufacturing any forest, agricultural or animal products or by products.
  7. To encourage, assist and finance the formation of Forest Labour Co-operative Societies Conducive to the interests of the company.
  8. To acquire and to develop land as a lease for various forest industries.

The objects ancillary or incidental to the attainment of the main objects of the company are:

  1. To develop the resources of and turn to account any lands and any rights over to or connected with land belonging to or in which the company is interested by clearing, drainage, fencing irrigating, grazing and by promoting irrigation and the establishment of colonies and settlements.
  2. To acquire by concessions, grants, purchase barter, license and lease or otherwise either absolutely, conditionally, solely or jointly with other, any tract or tracts of country lands, estates, houses, farms,watch rights, way-leaves and other works, privileges, rights, hereditament and any machinery plant utensils, trademarks or other movable and immovable property of any description whatsoever in any place in India or outside and to explore, survey, cultivate or develop the same.
  3. To manage wholly or in part, jointly or otherwise factories, farms, estates, gardens, forests, plantations and other establishments or concerns, manufacturing any forest, agricultural or animal products or by-products.
  4. To produce, grow, process, export and import all varieties of forest seeds, garden seeds, farm seeds and seeds of all kinds and fodder of all varieties or any kind of product or by-products, therefrom.
  5. To deal in all kinds of chemicals, manures, fertilizers, pesticides, weedicides, fungicides and pharmaceutical products.
  6. To deal in all kinds of equipment for logging conversion, hauling and transport, seasoning and preservation of forest produce, agricultural machinery and equipment, machine tools and metals of all kinds, fuel oils, lubricants and to establish and run engineering and repair workshops of all descriptions.
  7. To enter into agreements and contracts with governments, individuals, companies or other organizations, for technical, financial or any other assistance, for carrying out all or any of the subjects of the company.
  8. To enter into any partnership, into any agreements, or arrangements for sharing profits, union or interest, co-operation or joint adventure reciprocal concessions or otherwise with any person, company, association or firm, having objects similar to those of the company and calculated to benefit the company and to carry on or conduct or liquidate or wind up, any such partnership or arrangements, purchased or otherwise acquired.
  9. To sell or dispose of or transfer the business of the company or any part thereof, for such consideration as the company may deem proper and in particular for shares, debentures, or securities of any other company having objects, all together or in part similar to those of the company.
  10. To promote any company or companies for the purpose of acquiring all or any of the properties, rights and liabilities of the company or for any other purpose calculated to benefit the company, directly or indirectly and to distribute as may be resolved, in specie or otherwise, amongst the members of the company, the assets possessed or received by the company.
  11. To apply for, acquire and hold any charters, privileges, licenses,monopolies, concessions, patents or other rights or powers, from the Indian Government or any other government or state of any local or other authority in India or elsewhere or from any commercial or other companies, individuals or institutions and to exercise any powers, rights, privileges etc., so obtained.
  12. To purchase, take on lease or otherwise acquire for the purposes of the company any estates, lands, plantations, buildings, machinery, industrial units, roads, railways, or railway sidings or other interest in immovable property and to mortgage, sell, let on lease, convey, assign or exchange and to manage in any other way the property and assets of the company or any rights therein on such terms and conditions as the company may think fit.
  13. To purchase or otherwise, acquire, erect, maintain, construct, repair and alter any building, sheds, offices, plants, machinery, drains, roads, bridges, culverts, railways and railway sidings, stalls, godowns, fences and boundaries and all other structures found necessary or convenient for the purpose of the company.
  14. To raise, borrow or secure moneys in such manner and such terms as may deem expedient and in particular by way of loans, advances, deposits and issue of bonds, debentures or mortgages whether perpetual or otherwise and charged or not charged on the whole or any part of the rights or properties of the company including the uncalled capital and redeem, purchase or pay off any such securities.
  15. To draw, accept, make, endorse, discount and negotiate bills of exchange, hundies, promissory notes, bills of lading, delivery orders warrants, warehouse keeping, certificates and other negotiable or commercial or mercantile instruments for/or in the prosecution of the business of the company.
  16. To pay all costs, charges and expenses incidental to the promotion formation, registration and establishment of the company of its branches and the issue of its capital, including any underwriting or other commission, brokers fees, lawyers charges and to remunerate in cash or in any other manner, any person or person, for services rendered or to be rendered in introducing any person or business to the company or in placing or assisting to place or guaranteeing the subscription of nay shares, debentures, debenture stock or any other securities of the company or for any other reason and for arrangements made prior to and in anticipation of the formation and incorporation of the company which the company may think proper.
  17. To receive grants, loans, advances, or other moneys or deposit or otherwise from state or central government, banks, companies, trusts or individuals with or without allowance of interest thereon but without doing the business or banking within the meaning of the banking regulation act 1949 (central act X of 1949)
  18. To lend or deposit money belonging to, entrusted to or at the disposal of the company to such persons or companies on such terms as may deem expedient, and in particular to customers and others having dealings with the company with or without security, upon such terms as may be thought proper and to guarantee the performance of contracts by any such persons or companies, but not to do the business of banking as defined in banking regulation act, 1949.
  19. To invest the moneys of the company, not immediately required in such manner, other than in the share of the company, as from time to time may be determined.
  20. To establish, maintain, subscribe to or subsidise or become member of training institutions, research laboratories, research institutions, and experimental workshops for scientific and technical research and experiments.
  21. To act as agent for Government or other authorities or any manufacturers, merchants and others and to transport and carry any agency, business of every kind and of any description.
  22. To employ or pay experts, Indian or foreign consultants, etc., in connection with planning and development of all or any of the business connected with the company’s operations.
  23. To create any depreciation fund, reserve fund, sinking fund, insurance fund or any special or other fund, whether for depreciation or for repairing, replacing, improving, extending or maintaining any of the property of the company or for redemption of debentures or redeemable preference shares or for special dividends or for equalizing dividends or for any other purpose whatsoever, and to transfer any such fund or part thereof to any of the other funds herein mentioned.
  24. To use trademarks or trade names or brands for the products and goods of the company and adopt such means of making known the business and products of the company or of any company in which the company is interested as may seem expedient and in particular by advertising in newspapers, magazines, periodicals by circulars y purchase and exhibition of works of art of interest by opening stalls and exhibitions by publications and distribution of books and periodicals, calendars, almanacs and diaries, by distributing samples and by granting prizes, rewards and donations.
  25. To establish or appoint and maintain agencies for branches in India and elsewhere and to regulate and discontinue the same.
  26. To provide for the welfare of employees or ex-employees of the company and the wives, widows and families or dependents or connections of such persons by establishing provident or other funds by grants of money, pensions or other payments and by providing or subscribing towards places of instruction and recreation and hospitals, dispensaries, medical and other assistance, as the company shall think fit and to subscribe money to or for and otherwise help any charitable or benevolent object or nay exhibition or any public show or useful object.
  27. To distribute in species or otherwise as may be resolved, any assets of the company among its members, and particularly the shares, debentures or other securities of any other company formed to take over the whole or nay part of the assets or liabilities of this company, as may be permissible under law.
  28. To make donations to such persons or institutions and in such cases either of cash or of any other assets as may be thought, directly or indirectly conducive to any of the company’s objects.
  29. To employ foresters, cultivators, gardeners, engineers, mechanics, masons, carpenters, scaffold setters, painters, electricians and other technicians, salesmen, commercial and administrative staff and such other staff as may be found necessary for the efficient handling and conduct of the business of the company.
  30. To make advances upon or for the purchase of materials, goods, machinery, stores and other articles required for the purpose of the company.
  31. To tender or bid in auctions for purchase or otherwise acquire any contracts and concessions, for or in relation to the construction executions, carrying out equipment improvement, management administration or control of works and conveniences and to undertake, execute, carry out, dispose off or otherwise turn to account the same.
  32. To let out on hire all or any of the properties of the company including every description of apparatus and appliances of the company.
  33. To amalgamate with any company/companies having objects altogether or in part similar to those of this company.
  34. To obtain any act of the central or state legislature provisional order, license of autonomous body or authority for enabling the company to carry out any of its objects into effect or for effecting any modification of the company’s constitution or for any other purpose which may seem expedient and to oppose any proceedings of application which may seem calculated, directly or indirectly to prejudice the company’s interest.
  35. To open account or accounts with any individual, firm or companies or with any bank or banks and to pay into and to withdraw moneys from such account or accounts.
  36. To improve, manage, work, develop, alter, exchange, lease, mortgage, turn to account, abandon or otherwise deal with all or any part of the property, rights and concessions of the company.
  37. Subject to the previsions of the companies act 1956 and the constitution of India, to subscribe or contribute or to guarantee money to or otherwise to assist charitable, benevolent, scientific, national, or other institutions or objects or for any exhibition or for any public, general or useful object.
  38. To procure the registration or other recognition of the company in any country, state or place outside India.
  39. To open and keep a register or registers in any country or state in India or aboard, wherever it may be deemed necessary and expedient to do so.
  40. To undertake and execute any trusts and undertaking whereof may seem desirable, either gratuitously or otherwise.
  41. To do all or any of the matters hereby authorized (in any part of the world)either alone or in conjunction with or as factors, trustees or agents for any other companies or persons or by or through any factors, trustees or agents.
  42. To train personnel with a view to taking up more advanced management, exploitation and use of forests, flora and fauna by setting up appropriate institutions and training centres or otherwise.
  43. To establish printing press to undertake all types of printing and publishing works primarily of the Forest Department, any other government department sister corporation etc.
  44. To undertake, manufacture, purchase procurement and supply of stores and other articles that may be required from time to time in silviculture and utilization of forest produce.
  45. To undertake the manufacture, purchase, procurement and supply of fuel efficient stoves required by the public.
  46. The liability of the member is limited.
  47. The share capital of the company is Rs.200,00,000(Rupees Two crores) divided into 20,000 (Twenty thousand) equity shares of Rs.1,000 (Rupees One thousand) each.

We the several persons whose names and addresses are subscribed below are desirous of being formed into a company in pursuance of this Memorandum of Association and we respectively agree to take the number equity shares in the capital of the company set opposite our respective names.