.

~iI
.-,t
}
f

, The Companies Ordinance, 1~84

Company Limited by Shares

Memorandum of Association
of
KAY x,. EMMS (PRIVAJE) liMITED
1. The name of the Company is "KAY & EMMS (PRIVATE) L[MITEO".
11. The Registered Office of the Company wiU be situated in tbe province of Punjab.
III. 'The objects for ·which the Company is established are as follow (in constructing the
following sub-clauses, tbe scope of no one of such sub-clauses shall be deemed to limit or affect the
scope of any other sub-clause) :-

1. To carryon the business of manufactures, importers and exporters, wholesale and retail
dealers of and in men's, women's and children's clothing and wearing apparel of every
kind, nature and description including shirts, bush shirts. pyjama suits, vests, under wears,
suits, pants, workmen's clothes. uniforms for the Army, Navy, Air Force and other
personnel, foundation garments for ladies dresses, brassiers, maternity belts, knee caps,
coats, panties. nighties.
2. To carryon the business of manufacturers, importers and exporters, wholesale and retail
dealers of and in hosiery goods of every kind. nature and description, for men, women,
and children including vests, under wears, socks, stockings, sweaters, laces, and of all
or anything which is used in hosiery goods. .
3. To carryon all or any of the business of dealers and manufacturers of all kinds of carpets,
durries, mats. rugs, namdas, blankets, shawls, tweeds, linens, flannels and all other
articles of woolen and worsted materials and of all articles similar to the foregoing or
any of them or connected therewith.
4. To acquire from any persons, firm or body incorporated Or not, whether in Pakistan or
elsewhere, technical information, know-bow processes, engineering and operating data.
plans, layouts, and blue-prints useful for any of the business'ofthe Company, and to acquire
any grant or licence and other rights and benefits in th~ foregoi.ng matters and things.
5. To manufacture and deal in appliances, accessories and other materials and articles for
use in any of the foresaid or allied businesses or connected therewith including buttons
thread, zip, belts. interlining chemicals for collars, trimmings .
. 6. To manufacture. buy. sell, treat and deal in all kinds of plant, machinery, apparatus,
tools, utensils, commodities, substances, artlcjes and things necessary or useful for carrying
any of the above business or usually dealt with by persons engaged therein.
 2

7. To carryon the business of manufacturers, importers and exporters, wholesale and reta
dealers and in industrial sewing machines, cutting machines turning machines, coll:
making machines, pressing equipment, button hole machines, button sewing machine
fusing machines and all other machines and equipment used in and connected with a1
of the foregoing business.
8. To manufacture and deal in all types of hosiery knitwears and fabrics.
9. To manuf3;ctu?e: b[!:acb;,'dye, print ~n~ sell k'ni(wears fna de from cotton, rayon, nylo
mylow wool, silk, synthetic fibres, staple fibres and other materials and generally to car
on the business of hosiery knitting mill 'P'roprietors in all their branches.

t n.
10. To"carry Qi{bus'incss a~lre·.seJlefs, reti'ile'rs, impoCters. P'xporters, pr'l)c-essors bleache
~ f
dyers'; fiilishers ofl'all ki
tI·· t : -,;
'of em~rolderies.
t..";
•
,
.. '"
,

l l . To buy, sell, manufacture, process, import, export and deal 10 the business of readyma
garments and to carryon the business of hosiers, glovers, lace makers and dealers.
) 2. To manufacture and deal in all types of yarn and other articles and materials, whet)
made or treated by the Company or not, and engage in any business relating to the use
'disposal of aoy .of the by-products of the Company.
13. To carryon the business of customers, robe, dress makers, tailors and trimming's of ev-
kind, general drapers and habredashcrs. ' !
14. To purchase, sell, import, export, manufacture or otherwise deal in all types: of hosi
machines and its components. ..
15. To c~ir§ on the business of consultant of hosiery, knitting yarn, cloth and laces rna
facturers and dealers.:
16. To carryon tbe business of printers, manufacturers of student note-hooks, text-bee
printing and publishers of general books, printing job works and LOcarryon the trad-
pr inters, publishers and stationers.
17. To manufacture, buy, sell import, export and otherwise deal in all sorts of sports gc
such as Foothalls, Volley-balls, Basket-halls, Net-balls, Rughy-balls. Tennis, Sqi
r'ackets, Pigpong sport sticks, seat sticks, walking and skating equipments, cricket t
cricket wickets.' HOCKey and cricket balls, sport gloves, cillar tables, pigpong tal
playing cards, Ludos, Chess and other sports articles, materials and substances.
) 8. To establish housing colonies, construct and sell houses, plots, offices, and to let the s
on hire as 'rf!ay be 'deemed beneficial to the Company.
19. To'promot'e, carry 'on, undertake or otherwise deal in the business of exporters, impor
manufacturers representatives, distributors, agents or any other capacity in all COD
dit:es~aJ!tjeles·or things which company may consider beneficial.
20. To act as general order suppliers and commission agents, and trade as general merch
wholesalers, retailors,' dealers, distributors, and sub-agents, to erect upon the said
buildings, fiats, shops and other dwellings on any la wful basis to the public. To estal
run, manage or operate in any legal form all types of workshops or engineering worl
any part of the world which may be directly or indirectly required for handling the'
per mitted by these presents.

,-
 3

21. To work as agents, coni ractors, suppliers to Governments, Serm-Governrnent and Pr n ate
organisations or persons for goods and services required by them and including the goods
in the nature of construction material, packing material, scientific instruments, surgical
instruments, machinery, and medical products, printing and stationer), general office
1 '11 . .
supplies, medicines and sports goods.
22. To import the plant and machmcry for the purposes of installation of textiles
Mills. To
manufacture COltOD yarn and cloth and to import the raw material for the purposes of
manufacturing of such goods incidental to the business of the company.
.. 23. To carryon the business of dyeing, bleaching and printing of cloth of all sorts.
24. Td carryon the business of iron, brass and other materials and founders, iron and steel
makers and converters; mechanical, electrical, civil and hydraulic engineers; manufac-
tures of agricultural implements and other machinery, ferromanganese; coal and colliery
proprietcrs ; tube, pipe and tank manufacturers; tin-plate and tool makers; metal vork ers,
mill-wrights, mechanists, wire-draws; manufacturers. Ill' ulders, finers, galvanizers, electro-
plates. enamellers, minners, smiths, wood-workers, builders, metallurgists, gas makers,
printers, carriers and merchants and to buy, sell, manufacture, repair, convert, alter, let 00
hire and deal in machinery and implements, metals, rolling stock, hard-wares of all kinds.
25. To carryon the business of extraction of oil from cotton seeds, rape seeds and other
varieties of seeds aod all other sorts of oil and any products thereof of the manufactures
aod dealers of oil and vegetable ghee.
26. To manufacture, compound. import, export, acquire, sell, trade in and otherwise deal in
all types of chemicals and chemical compounds, dyes, paints, varnishes, printing inks,
plastic material and products, petro chemicals, rubber, leather, cloth and allied products,
cellulose, natural and artificial fibres, photographic material, sealths, heavy chemicals
including soda ash, caustic soda, various inorganic and organic acids; chr ornine and
chlorine compounds organic solvents, paper and paper products, inorganic and organic
solvents, inorganic and organic chemicals. ceramics and products, procelain and china
clay products, cement, or any other type or kind of products whatsoever which can be
conveniently manufactured, compounded, handled, imported and exported, acquired,
sold and otherwise deal in the said products.
27. To carryon the business of poultry farming and to deal in all sorts of rowls and birds,
eggs and Hesh and to freeze dehyderate or otherwise preserve nod pack flesh, to prepare
animal and poultry feeds and arrange for the sale and distribution of the products of the
Company through agencies, depots.
28. To carryon fruit gardening, vegetable prod ..c.tion and nursery and farming of all sons
of products and to do the business of dehydrating, preserving and canning fruit, vegetable
and to prepare jams, jellies, concentrate, syrups, squashes and other fruit and vegetable
products of any kind. To carry OD business of preparing aerated water, soft drinks, ice
and ice-cream and to sell, deal in and distribute the product of the Company.
29. To procure the incorporation, registration or other recognition of the company in any
country, state or place and to establish and regulate agencies for the purpose of the
company's business and to apply or join in applying to any local or foreign government,
 4

or to any other authority for any act, law, decree, concessions, orders, rights or privilege
that may seem conducive to company's objects or/and to oppose or defend any proceer
iogs or applications which may seem .calculated directly. or indirectly to prejudice tt
company's interests.
30. To enter into partnership or into any arrangement for sharing or pooling profits, amalg
mation, union of interests, co-operation, joint venture, reciprocal concession or otherwis
I "
with any person or firm, or Company carrying on or engaged in or about to carryon ,
1 I
I ,
engage in any business or transaction which the Company is authorised to carryon.
31. To purchase or otherwise acquire and undertake the whole or any' part of the busines
property, assets, liabilities and transactions of aoy person, firm or company, carryii
on any business of same nature altogether or in part similar to the business which tt
company is ,aqthorised to carryon, or possessed of any property suitable for the purpo
of this Company in Pakistan or elsewhere, and to pay for the same, and all other propel
- or rights of whatsoever kind acquired by the Company, in cash or in shares, debentur
or debenture-stock of the Company.
32. To be interested in, promote and undertake tbe formatioo and establishment of su
I '
institution, business or companies as may be considered to be conducive to the profit a
interest of tbe company; and to carryon any other business which may seem (0 ,
company capable of being conveniently carried on in connection with any of the obje
or otherwise calculated directly or indirectly to benefit the company and also to acqui
promote, aid, foster, subsidise or acquire interests in any industry or undertaking in a
country or countries.
33. To create any depreciation fund, reserve fund, sinking fund, insurance fund, or any OIl
special fund, whether for depreciation or for repairing, improving, extending, or ma
raining any of the property of the company or for any other purpose conducive to'
interest of the company.
34. To draw, accept, make, endorse, discount and negotiate promissory notes, hundies, b
of exchange, bills of lading and other negotiable instruments connected with the busin
.( ,
of the company.
35 To purchase shares, debentures, and other securities of any other company having obj(
altogether or in part similar to those of this company, purely in the interest of t
company.
36. To sell and, in any other manner, deal with or dispose of the undertaking or property
the company or any part thereof for such consideration as the company may think fit.
37. To acquire, improve, manage, develop, exchange, sell, lease, mortgage, enfranch
dispose off, turn to account or otherwise deal, with all or any part of the property, ri!
patents and concessions of the company.
38. To purchase or by any other means acquire and protect prolong and renew, whether
, Pakistan or elsewhere, any patent rights, breveted, inventions, Ilcences, concessions wt
may appear likely to be advantageous or useful to tbe company and turn into acco
and manufacture under or grant licences or privileges, in respect of the same am
 5

spend money in experimenting upon and tesung or in improving or seeking to improve

any patents, inventions or rights which the company may acquire or purpose to acquire .
•
3 9. To export or import the manpower to and from any country of the world for execution
of company's own projects or on commercial basis for the betterment of the company.

40. To distribute any of the property of the company amongst the members in specie or
kinds.
41. To let out on hire all or any of the property of company whether Immovable or movable
including all or every description of apparatus or appliances and to hold, use, cultivate,
work, manage, improve, carry 00 and develop the undertakings. land immovable property
and assets of any kind of the company or any part thereof.
42. To amalgamate with any company or companies having objects altogether or in part
similar to those of this company.
43. To pay for properties rights or privileges acquired by the company either ID shares of the
company or partly in cash or otherwise.
44. To open, operate and close banking accounts of the company with the banks.
45. To undertake and execute any trust, the undertaking of which may seem to the company
desirable, and either gratuitously or otherwise.
46. To adopt such means of making known the business of the Company as may seem expe-
'i dient, and in particular by advertising in the press, Radio, Televison or by purchase and
1 exhibition of work of art or interests. by publications of hooks, periodicals by granting
prizes, rewards and donal ions.
47. To guarantee the performance of any contract and obligations of the company in relation
to the payment of any loan, debenture. stock bonds, obligations or securities issued by or
in favour of tbe company and to guarantee the payment or return on such investments or

t of dividend on any share of the Company".

48. To do 011 or any of the things hereinbefore authorised 10 any pari of the world either
alone or in conjunction with others or as factors, trustees or agents for others residing
in any part of the world or through factors, trustees and agents appointed in any part
of the world.
49. It IS declared that notwithstanding anything contained In the foregoing object clauses
of this Memorandum of Association, nothing shall he construed empowering the Company
to indulge in or undertake business of Banking Company, directly or indirectly investment
or Banking Insurance, managing agency, BUSiness or any other unlawful operations.

IV. The liabiluy of the members is limited.

V. The authorised capital of the Company is Rs. 500.COO (Rupees Five Lacs) divided
in 5,000 Ordinary Shares of Rs. 100/- each with powers to Increase, reduce, sub-divide, consoli-
date or reorganize the capital and to div ide the shares in the capital of the Company into several
classes in accordance with the provisions of the Companies Ordinance, 1984.
 6

We the several persons whose names and addresses subscribed below, are desirous of bein-
formed ioto a company in pursuance of this Memorandum of Association and we respectively agr e-
to 'take tbe number of shares in the capital of the company set opposite to our respective names:

Name, address and Description, No. Signature Witnesses, Name, Des

Nationality of the of of cription and
Subscribers Shares Subscribers Address
--
1. Kburram Tariq 100
slo Mohammad Sharif Tariq
J 3-B, E-Z,
Gulberg Ill, Lahore.
(Pakistani) (Garment Business)

2. Mohammad Sharif Tariq 100

slo Ch. Nazir Ahmed
. 16/7, Civil Lines, Club Road,
Faisalabad.
(Pakistani) (Garment Business)

3. Moazzam Tariq 100

slo Mohammad Sharif Tariq
J6/1, Civil Lines, Club Road, -
Faisalabad,
(Pakistani) (Garment Business)

4. Rabia Tariq 100

dlo Mohammad Sharif Tariq
1617, Civil Lines, Club Road, I
Faisalabad.
(Pakistani) (House Lady) ,

5. Monazza Nasim 100

dlo Nasim-ur-Riaz
16/7, Civil Lines, Club Road,
Faisalabad.
(Pakistani) (House Lady)

6. Mrs. Salma Tariq 100

wlo Mohammad Sharif Tariq
16/1, Civil Lines, Club Road,
Faisalabad.
(Pakistani) (House Lady)

600
I
I Dared _
I
I
I.
i
\.
 7

d4. The following shall be the first directors of the company who shall hold office till tbe
election of directors in the first Annual General Meeting .
•
l. Khurram Tariq
2. Mohammad Sharif Tariq
3: Rabia Tariq
4. Mrs. Salma Tariq

45. All elected Director shall retire from office at the Meeting after every third year. A
Director retiring at the meeting shall retain office until tbe election of Directors in that meeting.

46. The Election of Directors shall be held every third year at the Annual General Meeting
in accordance with section) 78 of the Companies Ordinance, 1984. A Director elected shall stay in
office for a period of three years unless he ceases to be a Djr ector under the provisions of Companies
Ordinance, 1984.

47. A Company may by resolution in general meeung remove a Director appointed under
section) 76 or secuon 180 or elected in the manner prov ided for in section 171Sof the Companies
Or dinauce , 1984.

48. A retiring Director shall be eligible for re-election.

49. The remuneration of the directors shall from time to time be determined b) the company
in general meeting subject to the provisions of the Ordinance.
50. Save as provided in section I R7 of the Ordinance 00 person shall be appointed as 3

dir oetor unless he is a member of the company.

FTLLING OF VACANCIES
51. At the first annual General meeting of the company, all the directors shall stand retired
from office, and directors shall be elected in their place inaccor dance with section 178 for a term of
three years.
52. The director shall comply with the provisions of sections 174 to 178 and section 180
relating to the election of directors and matters ancillary thereto.
53. Subject to the provisions of the Ordinance, the company may from time to time in general
meeting increase Or decrease the number of directors.
54. Any casual vacancy occuring on the board of directors may be filled up by the directors,
but the persons to be chosen shall be subject to retirement at the same time as if be bad become a
director on the day on which the director in whose place he is cbosen was last elected as director.
55. The company may remove a director but only in accordance witb the provisions of the
Ordinance.

56. The Directors may also sanction the payment of such additional sums as they may
think fit to any Director for any special service he may render to the Company subject to the
approval of the shareholders at a General Meeting and In accordance with the provisions of the
Companies Ordinance
 .,..~ ----
..
L!

57. The Directors who reside out of station shall also be entitled to be paid such travelling
and other expenses as may be fixed by the Directors from time to time.
t 58. The quorum necessary for the meeting of Board of Directors may he fixed by the directors
and unless so fixed shall be two directors present in person.
59. A
resolution in writing signed by all the Directors without a meeting of Directors shall be
as effective for all purposes as a resolution passed at the meeting of the Directors duly held, called
an d constit uted.
60. The Directors may from time to lime appoint one or more of their body to the office of
the Chief Executive. Technical Directors, Directors of Sale and Purchases. Director-ie-Charge,
General Manager for such terms, and at such remuneration as they may think fit subject to tbe
. ~.
approval of shareholders at General Meeting and the Companies Ordinance, 1984 .
DISQUALlfICATlON OF DIRECTORS

61. No person shall become tbe director of a company if he suffers from any of the disabiluies
or disqualifications mentioned in section 187 and if already director shall cease to hold such 0.IiCe:
fromthe date he so becomes disqualified or disabled.

Provided however, that no director shall vacate his office by reason only of his being a member
of any company which had entered into contracts with, or done any work for. (he company of which
he is director, but such director shall not vole in respect of any such contract or work, an d if he
does vote, his vote shall not be counted.

MANAGEMENT
62. The whole business of the Company will be car r.ed on by the Boar d of Directors Wh0
shall have all powers, authorities and discretions as are given to them by the Companies Ordinance,
1984.
63. The appointment and the terms of the Chief Executive of the Company will be
Governed by the Companies Ordinance, 1984. The first Chief Executive of the Company will be
Mr. Khurram Tariq and shall hold office upt illthe first A. G. M.
POWERS AND DUTIES OF 01 RECTORS
64. The business of the company shall be managed by the directors, who may pay all expenses
incurred in promoting and registering the company. and may exercise all such powers of the corn-
pany as are not by the Ordinance or any statutory modification thereof for the time being in force,
I or by these regulations, required to be exercised by the company in general meeting, subject to
"
nevertheless to the provisions of tbe Ordinance or to any of these regulations, and such regulations
I.
being not inconsistent with the aforesaid provisions as may be prescribed by the company in general
meeting but no regulation made by the company in general meeting sball invalidate and prior act of
tbe directors which would have been valid if that regulation had not been made.
65. The amount for the time being remaining undischarged of money's borrow ed or r aise d
by the directors for the purposes of the company (otherwise that by the issue of shares capital) shall
not at any time, without the sanction of the company in general meeting, exceed the issued share
capital of the Company.
'I
t

66. The director shall duly comply with the provisions of the Ordinance, or any statutory
modification thereof of the time being in force, and in particular with the provisions in regard to
the registration of the particulars of mortgage and charges affecting the property of the company Or
created by it. to the keeping of a register of tbe directors, and to the sending to the registrar of an
annual list of members, and a summary of particular relating thereto and notice of any consoli dation
or increase of share capital. or sub-division of shares, and copies of special resolution and a copy
of the register of directors and notification of any changes therein.
67. The directors shall came minutes to be made in books provided for the purpose :-
(a) of all appointments of officers made by the directors;
(h) of the name of the directors present at each meeting of the directors and of any
committee of the director;
{c) of all resolutions and proceedings at all meetings of the company and of the director
and of committees of directors;
aud every director present at any meeting of directors or committee of directors shall sign his name
in a book to be kept for the purpose.
68. The Board of Directors, without prejudice or any way restricting or limiting the general
powers and authorities heretofore. conferred by these present or the Companies Ordinance, 1984
shall have the powers to do or concur in doing all or any of the following acts and things:
(a) To take, lease purchase, erect or otherwise acquire for tbe Company and land building,
properly, rights or privileges which the Company is authorised to acqoir e at such price
and generally on such terms and conditions as they may think fit.
(b) To sell, let, exchange or otherwise dispose of absolutely or conditionally all or any
part of the property, privileges and undertaking of the company upon such terms and
conditions and for consideration as they may think fit.
(c) To buy, sell, import, export or procure the supply of all plants and machinery, material
stock in trade and other movable and immovable property and things required for the
purpose of the Company.
(d) To engage, fix and pay the remuneration and dismiss or discharge all Managers,
Engineers. Agents, Secretaries, Clerks, Accountants, Servants, Workmen, Experts,
Technic] Advisers, or other persons employed or to be employed in or in connection
with the business of the company.
(e) To appoint any person to be attorney of tbe Company for such purposes and with such
powers, authorities and discretions for such period and subject to such conditions as
they may from time to time think fit and to revoke such power at pleasure.
( f) To enter into, carry, rescind or vary all financial arrangements with any banks, persons
and or corporations for in connection with the Company's business and affairs and
pursuant to be in connection with tbe such arrangements to deposit, pledge, hypothe-
cate any property of the Company or the documents representing or relating to the same.
(g) To take and give receipt. release, and other discharge for money payable to the Com-
pany and for tbe claim and demands of the Company and to draw. accept. en dosr e
" 'I'
f'
,I,
n.
~'
1.

10

negotiable promissory notes, bills of exchange or other negotiable and transferable

instruments.
(b) To invest and deal with the Surplus mOD~Ynot Immediately required for tbe purpose
tbereof upon such terms and to sucb person as may be tbought expedient.
(i) To d~ermiDe who shall be entitle to sign on the Company's behalf bills, cheques, notes,
receipts, acceptances, endorsements, release contracts and documents.
(j) To enter into such negotiations and contract and rescind or vary all such Contracts and
execute and do all such acts, deeds and things in the name of the Company as tbey may
consider expedient.
(k) To open accounts with any bank or bankers or with any company, firm Or individual,
and to pay into and withdraw money from such accounts from time to time.
(I) To insure the property movable and immovable of the Company.
I
,I (m) To given to any person employed by the Company's Commission on the profits of the
I, Company of any particular business or transaction of the Company.
(n) To institute. compact, prosecute, defend, compound, seule, compromise, adjust, refer
to arbitration, withdrawal, abandon, any legal proceeding by or against the Company
or its oBicers or otherwise concermng the affairs of the Company.
(0) To make advance, deposits, or loans of any money of the Company for the business of
the company to such persons upon such security or Without as they may think Ot, Jed
generally to direct, manage, control the receipts, custody employment, investment and
expenditure or the money's and funds of the Company and the keeping of accounts of
the Company but not to act as banking Company.
(p) To appear for and on behalf of the Company in any Court of Justice, Criminal, Civil
or Revenue, before any Executive Judicial, Muncipal, Provincial, Revenue, Police,
Postal, Excise, Transport, Income Tax, or other offices in any action or proceeding or
matters in which the Company- is inter ested to promote, safeguard or defend its
interests.
i q) To sign OJ verify plaints, written statements, petitions, compromise mukhtarnamas,
vakalataama, authorising legal practitioner to act on behalf of the Company in all
Courts Criminal or Revenue.

BORROWING POWER
69. Subject to the provisions of the Ordinance, the Board of Directors, shall have the powers
to toke or borrow any sUIps of money for and on behalf of the Company from the members,
Companies, Banks, from time to time or they may themselves advance money to Company at such
interest and on such terms as may be approved by the Directors.

ACCOUNTS ANI:> AUDIT

70. Once at least in every year the accounts of the Company shall be audited and the
fairness of the Balance Sheet shall be ascertained by one or more auditors. The Auditors shall be
appointed and their dnries regulated in accordance with the Section 252 to 255 of tbe Ordinance.
 J1

THE SEAL
71. The .k>irectors shall provide for the safe custody of the seal and the seal shaU no! be
affixed to an} instrument except by tbe authority of a resolution of the board of directors or by a
c'ommiiiec' or dIrectors authorised in that behalf of the Directors and in the presence of at least two
director and of the secretary or such other person as the directors may appoint for the purpose;
and the dj'~ector and secretary or other person as aforesaid shall sign every instrument to which the
I
seal of the company is so affixed in their presence.

SECRECY
72. No member shall be entitled to visit and inspect the work of the company without the
permission of the Directors or to acquire discovery of the informa~ion regarding any details of the
Company's business or any matter which is or may he in nature of trade secret process which may
relate to the conduct of the business of the Company and which in the opinion of the Directors
will be inexpedient in the interest of the member of thc Company to communicate to the Public.

WlNDING UP

73. If the company is wound up, the liquidator may, with the sanction of a special resolution
of the company and any other sanction required by the Ordinance, divide amongst the members, in
specie or kind. the whole or any part of the assets of the company, whether they consist of property
of the same kind or not.
(a) For the purpose aforesaid, the liquidator may set such value as he deems fair upon
any property to be divided as aforesaid and may determine bow such division shall be
carried out as bet ween the members or different classes of members.
(b) The liquidator may with the like sanction, vest the whole or any part of such assets in
trustees upon such trusts for the benefit of the contributories as the liquidator, with
the like sanction, thinks fit. but so that no member shall be compelled to accept any
shares or other securities whereon there is any. liability.

INDEMN1TY
74. Every officer or agent for the time being of ihe company may be indemnified out of the
assets of the company against any liability incurred by him in defending any proceedings whether
civil or criminal, arising out of his dealings in relation to the affairs of, the company, except those
brought by the company against him, in which judgment is given in his favour or in which he is
acquitted, or in connection with any application under section 488 in which relief is granted to bim
by tbe Court.
 12

We the several persons whose names and addresses subscribed below, are desirous of being
, formed into a company in pursuance of tbese Articles of Association and we respectively agree
, I
to tak~ the ~~m~er o! S9ares in the capital of the company set opposite to our respective names:
~"-.. " t. •.. ·-.1 - J_
Name, address and Description, No. of Signature Witnesses, Name, Des-
Nationality .of~p~ Shares of cription and Address
, . Subscribers' Subscribers

100

100

100

100

s. Monazza Nasim 100

dlo Nasirn-ur-Riaz
J 6/7, Civil Lines, Club Road,
Faisalabad. -
(Pakistani) (House Lady)

6. 'Mrs. Salma Tariq 100

w/o Mohammad Sharif Tariq
16/7, Civil Lines, Club Road,
Faisalabad.
(Pakistani) (House Lady)

600

Daled --- .................... ....--