The Companies Act, 1956
Memorandum of Association
ALL INDIA COUNCIL OF MUSLIM ECONOMIC UPLIFTMENT LTD.
I. The name of the Association is the ‘ALL INDIA COUNCIL OF MUSLIM ECONOMIC UPLIFTMENT LTD.,
II. The Registered Office of the COMPANY will be situated in the State of Maharashtra.
III. THE OBJECT for which the Company is established are as herein under: -
(A) THE MAIN OBJECT OF THE COMPANY TO BE PERSUED BY THE COMPANY OF ITS INCORPORATION.
1. To promote the Educational, Social, Economic and general welfare of the people.
2. To arrange for the study and research of the teaching and practice of Islam in the first instance and allied thought and action, with a view to affect the thought and action of millions in India and thereby help them to attain or maintain peaceful, harmonious and happy social relations without hatred or violence of any kind.
3. To establish centers of study and Research and propagate Islamic Economic Doctrines and techniques of action. Credit mechanism with special reference to the principle of Interest free Banking and finances to the society.
4. To provide information, counsel and assistance in this field to teaching, social, financial and other institutions or person in the form of research fellowship, travel grants, library books and equipments and act as co-coordinating Centre.
(B) OBJECTS INCIDENTAL OR ANCILLARY TO THE ATTAINMENT OF THE MAIN OBJECTS.
5. To make provision for training of selected persons for the purpose of the fulfillment and carrying of the objectives of the Company;
6. To publish journals, books, booklets, literature; etc., and such other communication media material for the propagation of Company objectives with special reference to their application to the current social, economic an national problems;
7. To publish the approved research materials including the thesis of the research scholars or such other materials collected or obtained from national and international resources;
8. To establish and maintain contacts between institutions and persons in India and abroad working on the objectives of the Company;
9. To accept donation, subscription and grants in cash or kind from the public, institution and Government for achieving the objects of the Company;
10. To purchase, take on lease, construct any immovable or moveable property for the use of the Company;
11. To encourage settlement of disputes by Arbitrators and to act as or nominate arbitrators and/or umpire in transaction in which any member of the company is concerned or between parties connected with the objects of the Company and agreeing to abide by the decision or award of such arbitrators and/or umpires;
12. To sell, exchange, lease, grant, licenses and other rights over and to improve, manage, develop, mortgage, turn to account or in any other manner deal with or dispose of the undertaking, property, assets, rights, and effects of the Company or any part thereof, for such consideration as the Company may think fit, and in particular for shares, debentures or securities of the Company;
13. To enter into arrangement with any Government or authority supreme, municipal, local or otherwise or any person or company that may seem conducive to the Council’s objects or any of them and to obtain from the Government authority, person or company any rights, charters, contracts, license and concession which the council may think it desirable to obtain and to carry out, exercise and comply therewith either itself or through its members;
14. To pay out of funds of the Company all expenses which the Company may lawfully pay with respect to the promotion, formation and registration of the Council;
15. To lend, advance money or to give credit to such persons or companies and on such terms as may seem expedient and to guarantee the performance of any contract or obligation and the payments of money or by any such persons or companies and generally to give guarantees and indemnities;
16. The exercise all or any of its corporate powers; rights and privileges and to conduct its activities in all or any of its branches in the Union of India and in any or all states, territories, possession, colonies and dependency thereof and in any or foreign countries, and for this purpose to have and to discontinue such number of offices and agencies therein as may be convenient;
17. To procure the company to be registered or recognized in any part of the World;
18. To do all and everything necessary, suitable or proper for the accomplishment of any other purpose or the attainment of any of the objects or the furtherance of any of the powers herein before set froth, either alone or in association with other Corporate Bodies, Firms, or individual and to do every other act or acts, thing or things incidental or appurtenant to, or growing out of, connected with the aforesaid objects or powers of any part or parts thereof; provided the same be not inconsistent with the law of the Union of India;
19. The surplus or profit, if any, made by the Company the same shall not be distributed in any way among the members.
(C) THE COMPANY HAS NO OTHER OBJECTS.
IV. The liability of the members is limited.
V. Every member of the Council undertakes to contribute to the assets of the Council in the event of its being wound up while he is a member, or within one year after he ceases to be a member, for payment of the debts and liabilities of the Council contracted before he ceases to be a member, and the costs, charges and expenses of winding up and for the adjustments of the rights of the contributories among themselves, such account as may be required not exceeding one hundred rupees.
We, the several persons whose names and addresses are subscribed are desirous of being formed into a Company in pursuance of these Memorandum of Association.
1. Dr. Rahmatullah Service
156/E/15, Sarang Chawl
L.B.S. Marg, KURLA
Bombay – 400 070.
2. Mr. H. B. Nawab Service
2nd Floor, Vikrikar Bhawan,
Airport Road, Yervoda,
Pune, Maharashtra.
3. Reyaz Ahmed Khan Business
16, Kajal Apartments
1st Hasnabad Lane Santacruz
Bombay – 400 054.
4. Dr. M. Manzoor Alam Business
Institute Building,
Jogabai Extension,
Jamia Nagar, New Delhi – 110025
5. Dr. Mohd. Zaki Kirmani Business
4-A. Q. Market
Aligarh – 202 001.
6. Mr. Anwarali Sayed Business
1st Floor, Nafees Chambers
Carnac Road, Crowford Market,
Mumbai - 400 001
7. Mr. Amanullah Khan Business
Rahmat Manzil, Dodhpur, Civil Lines
Aligarh - 202002, U. P.
The Companies Act 1956
ALL INDIA COUNCIL OF MUSLIM ECONOMIC UPLIFTMENT LTD.
1. In these articles the following words or expression shall have the following meaning unless repugnant to the subject or context.
a) “The Act” means “The companies Act, 1956” as amended from time to time.
b) AICMEU means the “ALL INDIA COUNCIL OF MUSLIM ECONOMIC UPLIFTMENT LIMITED” incorporated under the Indian Companies Act, 1956.
c) “Constitution” means “ the memorandum and Article of Association” of the AICMEU for the time being in force.
d) General Body means all the members of AICMEU.
e) “Member means member for the time being of the AICMEU whose name shall have been duly entered in the Register of Member and who has not ceased to be a member by virtue of any of the provision of the constitution and shall include a subscriber to the “Memorandum and Article of Association of AICMEU”
f) “Office” means “the Registered Office” for the time being of AICMEU.
g) “Prescribed” mean prescribed by the constitution or by rules framed by the Governing Board.
h) “Chairman” means the Chairman of the AICMEU who will preside over all kinds of meetings.
i) “Register of Members” means the Register of the members of the Governing Board to be kept in pursuant to the ACT.
j) “Year” means the period commencing on 1st April and ending on 31st March next following.
k) “Board” means the Governing Board of AICMEU.
2. NUMBER OF MEMBERS: For the purpose of registration of AICMEU under the ACT the AICMEU is declared to consist of any number of members provided that the Governing Board shall have the power to restrict the number of members.
3. CLASSES & QUALIFICATION OF MEMBERS:
There shall be five classes of members of the AICMEU as follows
a) Founders
b) Patrons
c) Honorary Members
d) Affiliate Members
e) Subscribing Members
Any person above the age of 18 years, will subject to the condition otherwise prescribed in the Article of Association be qualified to be member of AICMEU
A. FOUNDER MEMBERS: Founder members mean the seven subscribers to the Memorandum of Association and Article of Association of the AICMEU. The founder members shall be permanent life members of AICMEU. Any vacancy occurring in the founder members shall be filled by co-opting a new person by the remaining founder members.
B. PATRONS: Any person qualified to be a member and paying a sum of Rs.10,000/- ( Ten thousand ) in lump sum to the AICMEU becomes a Patron of the AICMEU for life.
C. HONARARY MEMBERS: Any person of outstanding merit or who has rendered meritorious public services and is qualified to be a member may be invited by the Governing Board to be an Honorary Member of the AICMEU subject to the other provision of these Articles.
D. AFFILIATE MEMBERS: Any organization / trust society having similar objects and paying a sum of Rs.1,000/- annually may become an affiliate of AIMCEU, to be represented by one person nominated by the concerned organization and intimated in writing to the Secretary General of AICMEU. However in case the person so nominated also comes to hold an elected office, he shall cease to represent the organization concerned, which may nominate another representative. The affiliated member may change its representative at any time.
E. SUBSCRIBING MEMBERS: Any person qualified to be a member, applying on the prescribed form and paying Rs.100/-per annum to the AICMEU may be admitted as Annual Subscribing Member of the AICMEU. Subscribing member shall pay to AICMEU an Annual subscription of Rs.500/- provided that the sum of Rs.500/- paid by the applicant on his/her being admitted as such member of the then current year. The annual subscription shall be payable in advance within two months of the commencement of every succeeding year.
Note: The application from for membership can be had from Head/branch office of AICMEU. Forms duly filled in shall be sent to the Chairman, who may grant the membership. However, the Chairman holds the right to rejects any such application without assigning any reason.
4. A. DEFAULTING MEMBERS: Any Affiliate or Subscribing member whose subscription is in arrears for more than three months may be removed from membership by the Chairman after giving one month’s notice in writing. However any such member may be readmitted to membership on payment of all arrears of subscription due from his/her at the time of readmission.
B. TERMINATION OF MEMBERSHIP: A member shall cease to be a member of AICMEU.
i) On his/her resignation from membership given in writing to the Secretary General.
ii) On his/her being found of unsound mind.
iii) On his/her being adjudged insolvent.
iv) On his/her being convicted by a competent tribunal or court or authority for any offence involving moral turpitude.
5. If any member acts or has acted in a manner which may be detrimental to the promotion of the objects of AICMEU he/she may be expelled from the membership of AIMCEU by a resolution passed by majority of the members of the Board present at the meeting provided that at least 14 days before such resolution has been passed such member shall have notice thereof and he/she shall have reasonable opportunity of being heard.
6. No right of any member shall be in any way transferable or transmissible but all such rights shall cease upon the member ceasing to be such member whether by tendering resignation, expulsion or otherwise.
7.A. ANNUAL GENERAL MEETING: An Annual General Meeting of the members of AIMCEU shall be held once in each year on such date, time and place as the Governing Board may from time to time decide, provided that not more than 15 months shall elapse between one Annual General Meeting and the next. Nothing contained in this Article shall be taken as affecting the provision to sub clause 1 section 166 of the Act to extend the time within which any Annual General Meeting may be held.
B. BUSINESS TO BE TRANSACTED AT THE ANNUAL GENERAL MEETING:
The Annual General Meeting will transact the following business:
1.Considering the Annual report of AICMEU.
2.Considering the Auditor’s report.
3.Approving the proposed programme of work and budget estimates for the next financial year.
4.Holding election of the Governing Board.
5.Considering the amendment or modification in the constitution as suggested by the Governing Board.
C. QUORUM:
No business shall be transacted at any General Meeting of the Members of the AICMEU unless a quorum of not less than twenty-five members is present at the time such business is taken up for consideration.
D. QUORUM INCOMPLETE:
If within half an hour from the time appointed for holding the General Meeting, quorum is not complete, the meeting if convened by or upon the requisition members shall be dissolved, but in any other case it shall stand adjourned to the same day in the next week at the time and place or to such other day and such time and place in Bombay as the Chairman may determine and if at such reconvened meeting also the quorum is not complete at the expiry of half an hour from the time appointed for holding the meeting, the member present shall constitute the quorum and may transact the business for which the meeting is called.
8. I. CONVENING OF EXTRA ORDINARY GENERAL MEETING:
The Governing Board, whenever it think fit, may convene an Extra Ordinary General Meeting of the AICMEU.
II. REQUISITION MEETING:
The Secretary General shall call an Extra Ordinary General Meeting on the requisition made by members not less in number than one tenth of the total number of members carrying the right to vote on the matter or matters for consideration of which the meeting is requisitioned. Any requisition made by members for convening an Extra Ordinary General Meeting shall specifically set out the matter for consideration for which the meeting is required to be called and shall be signed by the requisitionists and shall be deposited at the registered office of the AICMEU. Only the matter/s specified in the requisition shall be discussed at the requisitioned meeting.
III. MEETING TO BE CONVENED ON REQUISITION:
On receipt of any such requisition, the Secretary General shall proceed to convene the Extra Ordinary General Meeting. If the Secretary General does not proceed within 14 days from the date of requisition notice having been received at the office of the AICMEU to cause the meeting to be convened on a day not later 30 days from the date of depositing of the requisition, the requisitionists or such of their No. not being less than specified in Articles above may themselves call the meeting. The meeting so called by the requisitionist shall be called in the same manner, as nearly as possible, as that in which the meeting is to be called by the Governing Board but shall not be held after the expiry of three months form the date of deposits of the requisition
9. At least 14 days before every General Meeting of the Council notice thereof specifying the day, place and time of the meeting and the nature of business to be transacted there at shall be given to all the members in the manner as may be present.
10. QUORUM:
i) No business shall be transacted at any Extra Ordinary General Meeting of the members of AICMEU unless a quorum of not less than twelve members is present at the commencement of the meeting.
ii) If within half an hour from time appointed for holding such Extra Ordinary General meeting, the quorum is not complete, the meeting if convened by or upon requisition of members, shall be dissolved; but in any other case it shall stand adjourned to the same day in the next week at such time and place in Bombay as Governing Board may determine and if at such reconvened meeting also the quorum is not complete at the expiry of half an hour from the time appointed for holding the meeting, the members present shall constitute the quorum and may transact the business for which the meeting is called.
11. The Chairman and in his absence the Vice Chairman shall preside over the every General Meeting of AICMEU. In their absence, the members of the Governing Board present shall elect any person from amongst themselves to preside over the meeting.
12. At any General Meeting a resolution presented for discussion will be decided by simple majority of votes. In case of the votes of the members present evenly divided, the Chairman will have the right of casting vote.
13. MANAGEMENT OF AICMEU AFFAIRS:
The Entire management of the Affairs of AICMEU and its funds and properties shall vest in the Governing Board which shall manage all affairs of AICMEU and its fund and properties by itself or through the agency of the executive council or through any committee or sub committee appointed by it for the purpose or through any of its office bearer or any combination thereof in accordance with the provision of these Articles.
All such powers, acts or things which the Governing Board empowered to exercise or do shall nevertheless be subject to such regulations and directions as may from time to time be determined upon or given by the General Body provided that no such regulation or direction shall invalidate any act, deed, matter or thing done or committed in pursuance of any prior regulation of the Governing Board.
14. GOVERNING BOARD:
The Governing Board shall consist of not more than 19 members as under:
a) All the 7-founder member of the AICMEU.
b) Not more than 3 members from among the Patrons to be elected by the General Body.
c) Not more than 3 members to be nominated by the Chairman who may or may not be members of the AICMEU but who are otherwise qualified to be admitted as a member of the AICMEU. Persons so nominated by the Chairman shall have all the rights and privileges of subscribing members.
d) Not more than 3 members to be elected from the affiliated members.
e) Not more than 3 members to be elected out of the subscribing members of the AICMEU.
I. POWER AND DUTIES OF THE GOVERNING BOARD :
Subject to the Rules and byelaws the affairs and activities of the AICMEU shall be managed administered, controlled and directed by the Governing board.
a) To strive to fulfill and carry out the aims and objects and to promote the interest of the AICMEU.
b) To do all other lawful and Islamically permissible acts and deeds as may be conducive to or expedient in the Interest of AICMEU.
c) To raise funds, accept gifts, donations etc. in any form for and on behalf of AICMEU to further interest of AICMEU and to use and utilize the same in appropriate manner.
d) To constitute committees or sub committees and delegate to them such powers as may be necessary for the purpose for which they may be appointed, to lay down the procedure of such committees and to dissolve them as and when deem fit.
e) To spend any sum up to Ten thousand rupees a year over and above the sanctioned budget on one or more heads or on any unsanctioned head if found necessary and in the interest of AICMEU.
f) To prescribe salaries, emolument, travel and daily allowance wages, gratuities, overtime wages etc. payable to the employees, functionaries and office bearers of the AICMEU, fix and regulate hours of work and to declare holidays for person employed in any branch of the AICMEU.
II. RETIREMENT AND RE-ELECTION OF ELECTED MEMBERS :-
One third of the elected members of the Governing Board shall retire from the Governing Board every year at the Annual General Meeting of the members of the AICMEU. Such retiring members will be eligible for re-election. The persons who so retire will be those who have been longest in the office and among those who have been in the office for the same length of time lot will determine their retirement. The vacancies arising will be filled up by the election at the Annual General Meeting of the AICMEU from among the members of AICMEU.
III. RETIREMENT AND RE-APPOINTMENT OF NOMINATED MEMBERS: -
The Nominated members of Governing Board shall hold office for a period of three years from the dates of their nomination. Any such nominated members shall cease to be a member of the Governing Board notwithstanding the fact that the period of three years from the date of his nomination has not expired, if such nominated member is a Subscribing or Affiliate member of the AICMEU and ceases to be a member of AICMEU on account of his default on his part in payment of his annual subscription or otherwise under any part of the provision of these articles. The Chairman may fill the vacancy so arising. The retiring nominated member will be eligible for re nomination by the Chairman.
IV. WHEN OFFICE OF MEMBERS OF GOVERNING BOARD TO BE VACATED:
A member of the Governing Board shall ipso facto cease to be a member thereof if :
a) He is declared to be of unsound mind by a court of competent jurisdiction.
b) He is an adjudged an insolvent.
c) If a member other than a Founder Member remains absent from three consecutive meetings of the Governing Board without obtaining leave of absence from the Governing Board.
d) He resigns his office by writing under his hand addressed to the Chairman.
The provision herein contained shall be without prejudice to the provision contained in any other Article under which a member of the Governing Board ceases to be a member of the Governing Board ceases to be a member thereof.
V. CASUAL VACANCIES IN THE GOVERNING BOARD: -
The remaining members of Governing Board by election at the meeting of AICMEU may fill up any casual vacancy occurring among the elected members of the Governing Board. Chairman may fill up any vacancy occurring among nominated members by nominating another person in the vacancy so caused. Any person elected or co-opted or nominated to fill up any vacancy shall hold office only till the expiry of the term of office of the person in whose place he is so elected, Co-opted or nominated and shall be eligible for re-election, re-cooption or re nomination.
VI. MEETING OF THE GOVERNING BOARD :
The meeting of the Governing Board shall be held at least once in every six months on such date, time and place as the Chairman may from time to time determine. The meeting will be summoned by the Secretary General on the direction of the Chairman or on requisition by any six members of the Governing Board. If the Secretary General fails to proceed within seven days from the date of receipt of the requisition to cause a meeting to be convened at a date not later than 15 days from the date of receipt of requisition the Chairman or the requisitionists may themselves or such of their Numbers not less than six may call the meeting. Provided that the meeting called by the requisitionists shall not be held after the expiry of 45 days; after initial receipt of requisition.
VII. NOTICE OF MEETING
At least fourteen days notice of the meeting of the Governing Board specifying the date, time and place and information regarding the business to be transacted at such meeting shall be given to every member of the Governing Board.
VIII. QUORUM:
Seven members will form a quorum for meeting of the Governing Board. If the quorum is not complete within half an hour of the time appointed, the next meeting will be called at seven day's notice for which the meeting was initially called.
IX. PROCEDURE AT MEETING:
The Chairman shall preside over all the meeting of the Governing Board and in his absence Vice Chairman shall preside over the meeting. If neither the Chairman nor the Vice Chairman is present within fifteen minutes of the time appointed for holding such meeting or if the Chairman or Vice Chairman is unwilling to act as such for any reason, the members present may elect one from among themselves to preside over the meeting. All questions before the majority of votes shall decide the meeting, each member having one vote. The presiding authority shall have a second or casting vote in case of a tie.
X. RESCINDING THE RESOLUTION:
Any resolution adopted or decision taken by the Governing Board may be rescinded or varied or modified by it through 2/3 majority, provided that no act, deed, matter or thing done or committed under or in pursuance of any valid resolution passed prior to its rescinding or variation shall be invalidated by such rescinding or variation or modification.
XI. MINUTES:
Minutes of the proceedings of all meetings of the Governing Board shall be prepared by the Secretary General and place for confirmation at the next meeting with or without amendment to be signed by the presiding authority. The draft of the minutes to be presented at the meeting shall be sent to all the members of the Governing Board with the notice for the next meeting unless they have previously been so sent.
XII. VALIDITY OF ACTS DONE BY THE GOVERNING BOARD AND OTHER BODIES:
All Acts done by the Governing Board or by any committee or sub committee appointed by the Governing Board or by any person purporting to act on behalf of the Governing Board or any committee or sub committee shall, notwithstanding that there was some defect in appointment of any member of the Governing Board or the committee or sub committee or person acting as aforesaid or that they or any of whom were disqualified be deemed as valid.
15. OFFICE BEARERS OF AICMEU:
The following shall be the office bears of the AICMEU.
a) Chairman
b) Vice Chairman
c) Treasurer
d) Secretary General
e) Not more than two Assistant Secretaries
Note: All the aforesaid office bears shall be honorary.
15. I. ELECTION OF THE OFFICE BEARERS:
At its first meeting to be held after the adopting of these Articles and at its meeting every three years thereafter the Governing Board will elect a Chairman from among the founder members and a Vice Chairman, Treasurer and Secretary General from among its members who will hold office for a term of three years from the date of election but will be eligible for re-election. If the person elected as the Vice Chairman. Treasurer or Secretary General retires by rotation in terms of clause 14(1) as member of the Governing Board before the expiry of the term of three years and is not re-elected, on such retirement he shall cease to hold the office. These office bearers shall also cease to hold their respective offices if they cease to be members of the Governing Board or a member of AICMEU for any other reason under these Articles. If any office falls vacant before the expiry of the term due to any of the event mentioned above, the Governing Board shall forthwith proceed to fill up such vacancies by electing another person from among the members of the Governing Board as the Vice Chairman, Treasurer or Secretary General as the case may be for the remaining term of office of the outgoing incumbent and the person so elected shall be eligible for re-election.
II. DUTIES AND POWERS OF THE CHAIRMAN :
Without prejudice and in addition to the general power of supervision, the Chairman shall have the following powers and duties.
a) To see that all resolutions and decisions of the Governing Board and General Body are properly executed and compiled.
b) To exercise general powers or superintendence and control over the funds and properties and activities of the AICMEU.
c) To make appointment for posts carrying salary subject to the approval of the Governing Board and to sanction promotion and other amenities to the employee of the AICMEU.
d) To take necessary and prompt action in matters within the jurisdiction of the Governing Board in case of emergency and report it in not more than twenty days at a meeting of the Governing Board specially convened for the purpose.
e) The Chairman shall have the right to invite any person to the meeting of the Governing Board or the General Body as a special invitee, may address the meeting with the permission of the Chairman but shall not be entitled to vote.
III. POWERS AND DUTIES OF THE VICE CHAIRMAN:
The Vice Chairman shall discharge all powers and duties, which are discharged by the Chairman, in his absence or as delegated to him by the Chairman.
IV. POWER AND DUTIES OF THE TREASURER:
In addition to such powers and such duties as may be assigned to him by the Chairman or by Governing Board.
i) The Treasurer shall be responsible for the custody of funds of the AICMEU, maintaining all books of accounts of AICMEU and for safe custody thereof including receipts, vouchers and all documents pertaining to the funds, liabilities and assets of AICMEU, all of which he may do either himself or through an employee of the AICMEU.
ii) To get the accounts audited by an approved Chartered Accountant and to prepare the balance sheets of the liabilities and assets of the AICMEU.
V. POWERS AND DUTIES OF THE SECRETARY GENERAL:
1) The Secretary General of AICMEU shall be the Secretary of the Executive Council and the General Body. He shall also be the Secretary of all committees and sub committees set up by the Governing Board or the Executive Council unless some other person is specifically appointed for any committee or sub committee.
2) The Secretary General shall be the Chief Executive Officer of Board and as such responsible for assisting the Chairman and Vice Chairman in carrying out their functions and to carry out all decisions, resolutions, and programme of the AICMEU.
3) All office records will be in the custody of the Secretary General who shall be responsible for the proper maintenance thereof.
4) The staff and other employees including part time employees shall be under the charge of and work under the supervision of the Secretary General.
5) The Secretary General shall have the power to make appointments to posts carrying salary up to Rs.1000/- per month subject to the approval by the Chairman, and to recommend promotion etc.
6) To receive all payments made to the AICMEU and pass receipt thereof and to deposit amounts in the bank/s in the account/s of the AICMEU.
VI. ASSISTANT SECRETARIES:
As soon as may be after his election the chairman shall nominate not more than two Assistant Secretaries in consultation with the Secretary General from among the members of the General Body, whose tenure of office will be at the discertation of the Chairman. However the term of their office shall be co-terminus with that of the Chairman.
VII. POWERS AND DUTIES OF THE ASSISTANT SECRETARIES:
Assistant Secretaries will assist the Secretary General in the discharge of his duties and function in such manner as the Chairman may from time to time direct. The Assistant Secretaries will be entitled to attend and address but not vote at the meeting of any committee or sub committee appointed by the Governing Board of which they may not be the member but directed by the Chairman to be associated with.
16. EXECUTIVE COUNCIL
There shall be an Executive Council for the AICMEU.
a) Chairman
b) Vice Chairman
c) Treasurer
d) Secretary General
e) Assistant Secretaries
f) Two members to be nominated from Governing Board by the Chairman.
I. POWERS AND DUTIES OF THE EXECUTIVE COUNCIL:
a) Powers and duties of Executive Council will be to examine and scrutinize the programme of work and budget estimates forwarded to it by various committees and forward the same with its remarks for consideration of the General Body, to recommend allocation of funds to different committees, to formulate schemes of work and to attend to such other matters as may from time to time entrusted to it by the Governing Board.
b) With out prejudice to the above general provision, the Executive council will in particular look after and attend to:
i) Disbursement and investments of funds belonging to or entrust to the AICMEU and the varying of such investments from time to time.
ii) Recovery and realization of all income from all such investments and of all other properties belonging or entrusted to AICMEU.
iii) Supervision and management of all properties of the AICMEU and of all Trusts of which AICMEU is trustee.
iv) Printing and Publishing annual account and report.
II. WORK PROCEDURE OF THE EXECUTIVE COUNCIL
The Executive Council shall have power to frame such rules as it may deem fit for its working and functioning including the giving of notices of meetings to its members and fixing its own quorum and to alter any of such rules as it may deem fit. The Executive Council shall keep minutes of all its proceedings, which will be kept open for inspection by any member of the executive Council or by any member of the General Body.
III. OPERATING OF BANK ACCOUNT:
The bank accounts of the AICMEU shall be operated jointly by any two of the four office bearers namely the Chairman, Vice Chairman, Treasurer and Secretary General. All cheques, hundies, drafts, securities, debentures and shares and all other orders of payment to be drawn by or in favour of the AICMEU shall be signed by any two of the four office bearers as mentioned above.
17. MISCELLANEOUS: -
Every member of the Governing Board or the Executive Council stands indemnified against all losses and expenses incurred in the discharge of his functions and done lawfully in good faith unless the loss so caused is due to gross negligence, fraud or dishonesty in which case the loss so caused or incurred shall be recovered from the person and property of the person concerned. In all such matters the decision of the Governing Board shall be final and binding on the person concerned.
18. FUNDS: The fund of AICMEU shall consist of
a) Reserve Fund
b) Current Income
These funds shall be kept separated from all funds entrusted to the AICMEU for management or for being applied to special objects or subjects to special condition.
A) RESERVE FUND: - Subscription from Patrons and donations received on stipulation that they shall become part of the Reserve Fund.
B) CURRENT INCOME: - Subscription from Annual Subscribing members, unconditional donations and grants (fee from students) etc. and other casual receipt shall from the current income.
C) CHANGE IN THE CHARACTER OF FUNDS: - The Governing Board may resolve by a majority of three fourth of the members present that the Reserve Fund or any part thereof shall become part of current income or resolve by a simple majority that the current income or any part thereof shall become part of the reserve fund.
D) SPECIAL DONATIONS : Donation may be received by AICMEU for special objects or subjects to special condition not inconsistent with the aims and objects of the AICMEU.
SEAL
19. The Board of Directors shall provide a common seal for the purpose of AICMEU.
20. A notice may be served upon any member of AICMEU personally or by sending it through the post in a prepaid envelope addressed to such member at his registered address.
21.Any notice served by post, shall be deemed to have been served at the time of the envelop containing the same would be delivered in the ordinary course of post in providing such service it shall be sufficient to prove that the envelop containing the notice was properly addressed, prepaid and posted.
22. Whenever in these Articles it is provided that a certain number of days notice of a meeting shall be given, notice of that member of clear days shall be given, that is to say in counting the days, the day on which the notice is received of deemed to be received and the day of the meeting shall be executed.
AMENDMENT
23. Amendment in the Constitution can be made in order to make it more effective and practical by ¾ majority of the Members. However, the aims and objects can only be changed by unanimous decision of the Members.
24. Any number, not less than 2/3rd of the total strength of the total strength of the Governing Board may, at a special meeting convened for the purpose, decide that the AICMEU may be dissolved either forthwith or at such future date as meeting may decide. If on the dissolution of the AICMEU there remain, after the settlement of all the debts and liabilities on the AICMEU, any assets in any form or shape whatsoever are including cash in hand and in the banks. These shall not be paid to or distributed among the members, but shall be handed over to one or more of any other institution or society or organisation working with the similar objects, to be determined by the Governing Board at a meeting convened for the purpose.
We, the several persons whose names and addresses are subscribed are desirous of being formed into a Company in pursuance of these Articles of Association.
1. Dr. Rahmatullah Service
156/E/15, Sarang Chawl
L.B.S. Marg, KURLA
Bombay – 400 070.
2. Mr. H. B. Nawab Service
2nd Floor, Vikrikar Bhawan,
Airport Road, Yervoda,
Pune, Maharashtra.
3. Reyaz Ahmed Khan Business
16, Kajal Apartments
1st Hasnabad Lane Santacruz
Bombay – 400 054.
4. Dr. M. Manzoor Alam Business
Institute Building,
Jogabai Extension,
Jamia Nagar, New Delhi – 110025
5. Dr. Mohd. Zaki Kirmani Business
4-A. Q. Market
Aligarh – 202 001.
6. Mr. Anwarali Sayed Business
1st Floor, Nafees Chambers
Carnac Road, Crowford Market,
Mumbai - 400 001
7. Mr. Amanullah Khan Business
Rahmat Manzil, Dodhpur, Civil Lines