Unless and until otherwise determined by the Company in General Meeting the number of
Directors shall not be less than two and not be more than twelve including Directors
nominated by financial institutions.
The following shall be the First directors of the Company
1. Mr. Naresh Darveshi
2. Mr. Sahil Naresh Darveshi
3. Mr. Pravin Ananda Kamble
4. Mr. Chandramani Jadhav
All the above directors of the Company are not liable to retire by rotation, unless resolved
60. (i) The remuneration of the directors shall, in so far as it consists of a monthly payment, be
deemed to accrue from day-to-day.
(ii) In addition to the remuneration payable to them in pursuance of the Act, the directors may
be paid all travelling, hotel and other expenses properly incurred by them—
(a) in attending and returning from meetings of the Board of Directors or any committee
thereof or general meetings of the company; or
(b) in connection with the business of the company.
61. The Board may pay all expenses incurred in getting up and registering the company.
62. The company may exercise the powers conferred on it by section 88 with regard to the
keeping of a foreign register; and the Board may (subject to the provisions of that section)
make and vary such regulations as it may thinks fit respecting the keeping of any such register.
63. All cheques, promissory notes, drafts, hundis, bills of exchange and other negotiable
instruments, and all receipts for monies paid to the company, shall be signed, drawn, accepted,
endorsed, or otherwise executed, as the case may be, by such person and in such manner as
the Board shall from time to time by resolution determine.
64. Every director present at any meeting of the Board or of a committee thereof shall sign his
name in a book to be kept for that purpose.
65. (i) Subject to the provisions of section 149, the Board shall have power at any time, and
from time to time, to appoint a person as an additional director, provided the number of the
directors and additional directors together shall not at any time exceed the maximum strength
fixed for the Board by the articles.