I.
The name of the Association shall be "FEDERATION OF BISCUIT
MANUFACTURERS OF INDIA.
II.
The Registered Office of the Association will be situated In the
Union Territory of Delhi.
III.
The objects for which the Association Is established are:
(1) To take over as a going
concern the working and management of the All India Biscuit Manufacturers
Association with all rights Including rights of recovery of dues,
if any, from the members of the Association or the Government
of India, assets and liabilities, records, books of account, emoluments,
etc., belonging to the Association.
(a)
To promote, 'protect, and safeguard the Interests of the Biscuit
Industry and Biscuit Trade In India,
(2)
To collect, compile and circulate statistics, market reports,
and all other useful Information relating to the biscuit Industry
and trade.
(3)
To promote, support or oppose legislation affecting the biscuit
Industry and. trade according to circumstances.
(4)
To promote and safeguard the Interest of Its members In all possible
manner.
(5)
To arrange to collect and maintain sufficient funds to
enable the association to carry out Its objects.
(6)
To arbitrate and adjust disputes when called upon to do
so.
(7)
To protect the members of the association against dealing
with persons who for any reason should not be given credit by
the collection and distribution of Information concerning the
credit of persons engaged in trade and others and by other means.
(8)
To organise and aid the realisation to the best advantage of the
estates of bankrupts and persons who have executed a deed of arrangement
or made a composition or similar deed with their creditors.
(9)
To make inquiries, collect Information and search such
registers and records as are available In order to provide members
with knowledge of the standing and responsibility of the persons
to whom they propose to give credit.
(10)
To collect debts for members and such other persons who
may employ the Association for the purpose upon such terms as
the parties may agree.
(11)
To enter into agreements with and to support Chambers of Commerce
and similar bodies for the protection and advancement of the trade
and traders.
(12)
To subscribe to and promote the aims an objects of any society
or societies formed for a similar purpose and to encourage and
support in any way any society or movement for the improvement
of commercial law.
(13)
To act as Trustees for the liquidation, by persons indebted, of
debts due to Members of the Association, and others, and to make
arrangements for obtaining payment of such debts by instalments
to take security therefore in, the name of the Association and
to enforce security where necessary.
(14)
To secure the adoption of a more healthy system of trade
.with' reference to credit.
(15)
To consider all questions and problems connected with trade
particularly the trade of India.
(16)
To consider, promote, oppose or watch any legislative or
other measures affecting trade and if deemed advisable to address
governments and authorities with respect thereto.
(17)
To Collect and circulate statistical and other information
relating to trade.
(18)
To borrow and raise money which may be required for the purposes
of the Association in such manner as the
Association may think fit.
(19)
To purchase, take on lease or in exchange, hire or otherwise
acquire any movable or immovable property real or personal estate,
be any rights or privileges which may be deemed necessary or convenient
for any of the purposes of the Association.
(20)
To construct, maintain or, alter any, house, buildings or works
necessary or convenient or used by or for the Association or In
connection with any of its objects or purposes.
(21)
To invest the moneys of the Association not immediately
required in such manner and in such securities as may from time
to time be determined.
(22)
To take any gift of property, whether subject to any special
trust or not, for any one or more of the objects of the Association.
(23)
To take such steps by personal or written appeals, public meetings,
or otherwise, as may from time to time be deemed expedient for
the purpose of procuring contributions to the funds of the Association
In shape of donations,annual subscriptions, or otherwise.
(24)
To print and publish any newspaper, periodicals, books
or leaflets that the Association may think desirable for the promotion
of it's objects.
(25) To undertake and execute any trusts or any, agency business
which may seem directly or indirectly conducive to any of the
objects of the Association.
(26)
To subscribe to any local or other charities, and to grant
donations for any public purpose, and to provide a superannuation
fund for the servants of the Association and otherwise to assist
any such servants, their widows and children.
(27)
To establish and support and to aid in the establishment
and support of any other association formed for all or any of
the objects of this Association.
(28)
To amalgamate with any companies, institutions, societies
or associations having objects altogether or in part similar to
those of this Association.
(29) To purchase or otherwise acquire and undertake all
or any part of the property, assets, liabilities, and engagements
of any one or more of the companies, Institutions, societies or
associations with which this Association is authorised to amalgamate.
(30)
To transfer all or any part of the property, assets, liabilities
and engagements of this Association to anyone or more of the companies,
institutions, societies or associations with which this Association
Is authorised to amalgamate.
(31)
To sell, improve, manage, develop, lease, mortgage, dispose
off, or otherwise deal with all or any part of the property of
the Association.
(32)
To remunerate any person or company for services rendered or to
be rendered in placing or assisting to place or guaranteeing the
placing of any debentures or other securities of the Association.
(33)
To assign to any member or class of members any preferential,
special or qualified rights or privileges over or as compared
with any other member as regards voting or otherwise howsoever.
(34)
To enter into any arrangement with any Government or authority,
supreme, provincial, municipal, local or otherwise that may seem
conducive to the Association's objects or any of them, and to
obtain from any such Government or authority all rights, concessions
and privileges which the Association may think it desirable to
obtain and to carry out, exercise and comply with any such arrangements,
rights, privileges and concessions.
(35)
To draw, make, accept, endorse, discount, execute and issue
bills of exchange, bills of lading, warrants, debentures and other
negotiable or transferable instruments or securities.
(36)
And generally, to do all other things incidental to the
attainment of the above objects.
IV.
The income and property of the Association howsoever derived shall
be applied solely towards the promotion of the objects of the
Association as set for in this Memorandum of Association, and
no portion thereof shall be paid or transferred directly or indirectly
by way of dividend, bonus or otherwise, by way of profit to the
persons who at any time are, or have been, Members of the Association
or to any of them or to any person claiming through any of them
provided that nothing herein contained shall prevent the payment
in good faith of remuneration to any officers or servants of the
Association or to any Member thereof or other person in return
for any services actually rendered to the Association, or for
travelling allowance, for halting, and other similar charges.
V.
If, upon the winding up or dissolution of the Association, there
remains, after the satisfaction of its debts and liabilities any
property whatsoever, the same shall not be paid to or distributed
among the members of the Association, but shall be given or transferred
to some other Institution, or institutions, having objects similar
to the objects of the Association on or before the time of dissolution;
and In default thereof, to such judge as may have or acquired
jurisdiction in the matter.
VI.
The liability of the members is limited.
VII.
Every member of the Association undertakes to contribute to the
assets of the Association in the event of the same being wound
up during the time that he is a member or within one year afterwards
for payment of the debts and liabilities of the Association contracted
before the time at which he ceases to be a member, and of the
costs, charges and expenses of winding up the same; and for the
adjustment of the rights of the contributories amongst themselves
such amount as may be required not exceeding Rs. 100
