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2477735624

THE COMPANIES ACT, 1994

(ACT XV t OF 1994)

A P R I VAT E C O M P A N Y LIMITED BYSHARES

MEMORANDUM OF ASSOCIATION

&

ARTICLES OF ASSOCIATION

--"s,j
OF

s.B"q

INVARIANT TELECOM BANGLADESH LIMITED

2017735624

TI.IE COMPANIES ACT, 1994

(ACT XV t OF 1994)
PRIVATE COMPANY
MEMORANDUM OF ASSOCIATION
OF
INVARIANT TELECOM BANGLADESH LIMITED

l. The name ofthe company s INVARIANT TELECOM BANGLADESH LtMtTED

ll. The regrstered office of the company shal be sit!aled n Bang adesh
lll. The oblects for whch the company s establshed are at or any of the fotowing (aiobiects wt be
rmp er|)ented after obtaining necessary permiss on kom the GovernmenL/concerned althority/competent
author ty before commencemeni of the bus ness):

1 To cstab ish and carry on bus ness as te ecom opeGtor va ue added Serv ce prov der to oca
and foregn te ecorn operators to export mport deveop soltware, appicatons, reating to
te ecorn sysienr Smartphone lP phone, commun cation method 10 export mpod, deveop
Srnartphone to operate as an lnternet Servlce Provider Data Commun cation Service provider
and provide wireless broadband lnternet access lo provide services to telecom operators, nternet
Serv ce Providers and Domesttc Dala Communicat on SeNice Provrders includina but nol I mited
to the sale of P lransit, P transport interconnect on, data center services and location space for
n-atwork equipnrent

2 To estab ish and carry on Bus ness Enterprise lndustr es for Computer sotut ons and Networking
system deve opment Corporate Automation srnal busness so ltions Local Area Nehvork and
oiher requred Jobs Services to estab ish Business Enterprse for system deve opment and
extension of nlernet Seruice Provider, Broad Band Solutions Cyber Caf6 Wan (Wide Area
Nel$rork) Wreess Metropo itan Area Network (W[4AN) Wrf Wireess Fdeity) and Wi [4AX
(Worldwide nteroperabl lty for N4 croweve Access) Serv ces

3. To appy for p!rchase or olherwise acqure and obtaif patents tradenrarks copy rights,
ntel ectual property r ghts brands brevets, nventions lcensees permiss ons, concessions
processes and the lkes conferrlng any excusve or lmited right (either n point of tme or
other'/r'ise) to use the sarne or a|y invention v/hich may seem capabe of being used for any
purposes oi the Company, to !se, exercise deve op or qrant icenses in respect of or otherwise
turn lo accoLrnl any such patents inventons. icensees perTnssons. concessions, pTocesses
and the rke and the rnlornrat on acqu red

1 To carry out al publc works and enter inlo a lypes of prvate contracls n connection with ts
oblects and lo enier inlo any agreement with any Government orarthoriles (municpa local or
otherwse) or any corporatons oompanes or persons whlch may seem conducve to the
Companys obiects or any of them and to obtaln fronn any such Government authority
corporation company or person any contracts rights prvileges and concess ons whch the
Company w th any such contracls, lghts pr vt eges and concessions

To purchase or otherw se acqu re andtosel suffender lease, mortgage. charge, converl hod.
turn to accoLrnt dspose of and deal n real and personal property and rghis ofaikinds and in
partrcular kinds buldinos heredicament, ts buslness concerns undeTta s,
modgages debentures produce concess ons, options. conkacls
stocks shares. securtes, po ices book debi and claims, priv leoes and of air
kinds nc Ld ng any interest in rea or personal property and any claims a
aga nst any person or con-rpany. and to caffy on business concern or underta
2471135624

6. To recerve money. securiiies or safe clstody (not amount ng to n bus ness of bank ng redefined
under the Bank ng Regu alions) and lo borrow or raise rnoney or to receive money on depos t at
inlerest or othenvise n such manner as the Company may th nk f t for the purposes of f nancng
the bLrsiness of the Company & n padcuar by the ssue or sae of any bonds morlgages
debentirres or debeniure-stocks, perpelual or othemtse including debentures or debenlure-stock
convert b e inio shares of this or any other company or perpetua annuiles & tn securtes of any
slch money so borrowed rased, or received to mortgage or charges the whoe or any part of
the properly assels or revenL_te oi the Company present or fulure, lncludrng ts uncalecl capita
assignmenl or oiherwise & to transfer of sale & other powerc as rnay seem expedient & to
purchase redeem or pay ofany such securlltes SLrblect lo the drectves of the Centra Bankof
BanS adesh and prov s ons oi the Companies Act

7 To issle every knd of guaraniee. ncudng corporate guar.rniee to other person. finn or body
corporale and to indemnify others as the Company may from i me to time think fit to conduct To
do the above things and sL-rch other ihngs as are ncdentat or may be conducive to lhe
atlainment of the above obiects or any of them in any part of word and as principats, agents
conlractors, trustees or OtherW se and by or throltgh trustees. attorneys, agents or otherr,v s; and
eltheraloneorrnconiunctonwthothersandtoestablshotfces agencies brancfies for Carrying
any of the aforesaid oblects n Bangtadesh or etsewhere n lhe word and to undenake the
management of the Cornpany or Compantes havlng objects Atogether or n part snriar to those
oJ the Company

8 To alta n the business obiectives company may enter nto partnorship Joint venture, iakeover or
Amagamate vr'th any other conpany and aso to take Loans from Bank/other Financial
lnst tut ons n such a manner as may company thinks fit

9. To mortgage lhe property and assets of lhe company as securtes for oans and/or any credit
facllies to be gven to any assocrate cornpany or compan es or third party and also to qive
guarantee securlng I ab lties of such assoctate corrlpany or compan es and/or th rd pady.

The iabrlty of lhe rnembers of lhe company ts im ted by shares

The Authorized Share Cap tal of the Company ts TK 30000000 (Three Crore) div ded nto 3000000
(Thldy L€c) OrdnarySharesofTKl0(Ten) eachwthpowerto ncrease or reduce the capila
and to divid€ ihe shares into d fferent classes and to attach thereto any spec a rightorprvieges
or conditions as regards div dends. repayment ol cap tat, voting or otherwise or to conso idat; or
sub d vrde the shares

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2417115624

We the severai persons whose nanres addresses are subscrlbed below are desiroLts of being formed
rnto a company rn accordance with th s Memorandum of Association and we respect veiy agre; to take
the f umb-.r of shares in the capita ofthe cotnpany set oppos te to our respective naines.

Narne. address & D rectors of Number of Signature of

Subscribers wlth Natlonality Shares Taken Subscribers

Name: Sayeeda Roxana Khanam Director 99000

FaLhers Name : WO S N4d Jas I m Udd n
Ch:sty (Ninety N ne
I!,lother's Name I Hastna Begum Thousand
Address House 28 Road 10B. Btock H
Shares)
Banan Dhaka
Date of Brrth 19-[,4AR-68
E-mai : mainul@m crotrade cx coin
Phone:880 2 9887646-8
TIN r378046149448
NID/Passport No : 19682692619470728
Natronalty Bangladeshi

Name : Mohammad Mainut Hasan Director 1000

Faihers Name r[4d Akkas J\,4ia
[lothels Name: f,4st. [4onowara Beoum (One
Address 180/F/T/1 (1si Floo4. T:tas Road, Thousand
East Rampura, Dhaka
Date of Birth 07 JUL-80
Shares)
E-rnai : mainLrl@m croirade cx com
Phone : +880-2 9887646-8
TIN 125720790713
NID/Passpo( No : 26936222A6622
Nationa ly Bangladeshi

Witness I Witness 2
Name l'loyeen F rozee Bafi ster Name : lld l,il!nlurutAtam
Address ABC House (4th Floor), 8 Kerna Address Oanis Sa anr Ar.ade T4. Purana Pattarr
AbtLr& Aven!e Bananr Dhaka- (6rh Floor) Dhaka-1000
1213
ND
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201"1735624

THE COMPANIES ACT, 1994

(ACT XV t OF 1994)
A PRIVATE COMPANY LIMITED BY SHARES
ARTICLES OF ASSOCIATION
OF
INVARIANT TELECOM BANGLADESH LIMITED

PRELIN]INARY

The RegL-rlatrons contained in the Schedlle 1 of the Companies Act, j99.{ shalapply to this
Company wth respect to such prov sions as are applcab e to prtvate L mited Companies so far
oniy as lhey are not negat-.d or modfed by or are not conta ned n the fo tow ng Ar1 c es or any
other Art cles ttat may from trnre to t me be framed by the Company

INTERPRETATION

2_ Lln ess the context oiherwrse requ res llords or expression conta ned n these Art cles sha I bear
the same rneaning as rn Act or any statltory modlf catton thereof in force at the date al wh ch the
Arl cles become btnd ng on the Conrpany.

The margna notes hereto are inserted foT convenence ancl shal not affect the construclion
hereof and n these presents, uness lhere is sornething in ihe subect or conlexi inconsistent

Act means the Cornpan es Act, 1994 and nc udes where the contexl so admtts any re-enactment
or slatutory nrod lioat on thereof ior the t me be ng n torce

3. Affliale means in relalion loany company any company \rhrch s for the t me being a subsici ary
or ho ding company of that company or a subs diary ot a ho ding company of slch company, and
a company rs a substdiary of another company (its ho ctng company) if that other con)pany s rn
contro of the former company or f t sa subsdaryofa company whrah s tself a subs diary of
that other company

Ad cles means these Art c es oJ Assoc atior or as from i nte to time a terecl by Spec al Resoluton
thai are not inconsistentwth the pfovision ofthe Act.

Board of D rectors or The Board means the Board of Drrectors for the tme be ng ofthe Company.

Business day means any day other than a Fiday Saturdayoroffcal publcholdays.
Cornpany INVARIANT TELECOM BANGLADESH L t4tTED formed and regtstered under the Act

Directors mean the Drrectors for the t me be ng of tha Cornpany as \!S I as,4dbqr dicictors who
rdr b6 -ro, 16d d- Di p.lo- r ". r..ror<
Bo. o ,J D
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j
-. o--osr.'r.oe.oorLl. btt -, -oL:oon..-. ,r-s \a'j'.it"
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Gazette means the Gazetie publshed by the Bangladesh covernment r,"
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2417135624

5. Government rneans the Governmeni of the people s Republ c of Bangladesh.

ln wril ng or wr tlen ncludes pr nting, typewrrt n9 I thography and any other mode of represeniing
or IeProdLrc ng wordS in v s ble form

l4anag ng Drrector rneans a Manag ng D rector appointed as such for a specified durai]on ol the
Company
N4ember nreans a reg stered ho der of shares in the Company
N/lonth means a calendar month
Offce means the Reg stered Office ofihe Conrpany.
Person ifcludes a body body corporate, firm associaton. corporation, company as well as an
nd vldual.
proxy includes an Altorney du y constituted undera PowerofAttorney

Power of Attorney m€ans the orig na power of aitorney du y executed by the apptcabte law or a
notar al certifrod copy ihereofor a copy certfed in a mann6r approved o{ by the directors.

6. Record Date means sha be the day on which members must be registered in order to qualiiy for
ad ! dend or return ofcapta or other distrlbution or payment lo shareho ders oJ the Company
Reg ster means the Reg ster of members to be kept plrrsuant to Section 34 of the

Reg slrar llleans the Registrar of tlre Jo nt Stock Compan es & Firnrs Dhaka
Bang adesh

Sea means the Common Seal of the Company

Shares means for the inre being oi the capital oi the Company where the context so admits
rnclude stock, optons and other securtes

7 S gn and sigrature means include respectvety ithography priniinq and narnes rnpressed wth an
ndia rubber or other kind of stamp. or by a mechan ca process or e ectron c rneans,
.
Specia Resolui on & Extra,ordinary Reso ution shal have the same meaning assigned lhereto or
respect vely n Sect on 87 of the Companies Act

Subs d ary sha i have the same rneaning assigned thereto in the Compan es Act

Tk. or 'Taka or 'BDT means Bang adesh currency. Worcls importing the singuar number also
nc udes the p ura nurnber and v ce versa.

8 Un ess context suggesis oiherw se mascu ine equal y mp es femtnine

Words importrng persons lnclude Corporations Compantes Sangsthas whether incorporaied or

unincorporaled and whether dom cied n Banoladesh or e sewhere

Head ngs and sub head ngs appear in these A(rcles pure y for reference purposes and have no
irear nq on the nterpretation thereof

Anyrsht, power or authorty provded ror

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provided for n these Articles sha I be interpreled acco d nq /
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ON OF SCFfDi.l R^oL"..o ,.or."...0 - 5c1.i,"
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9. ADP-CA
to the Company except as has been piov ded hereunder "OO,
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2411135624

10. REGISTERED OFFCE: The Olfice shal beatsuch place as the Directors shall iiom tmeto
lme decde on n Bang adesh

BUSINESS

11. The busness of the Company shal ncude al or any of the objects expressed n the
MemorandLrm of Assoc ation and shal commefce mmedatey upon lncorporaton of the
Company, and notwlhsland ng that part ofthe capta has been subscr bed

12. Any branch or knd of b!siness whch the Cornpany is ether express y or by nrp ication
authorzed to undertake may be undertaken by the Drreclors at such tme or tmes as they shal
Lh nk lit ard further may be suffered by themlo be in abeyance whether such branch orknd of
busness may have been actualy commenced or not so ong as the Direciors nray deem it
expedient not to commence or proceed v/ith such branch or kind of business.

SHARE CAPITAL

13. The Autho,ized Share Capria of the Company s TK. 30000000 ( Three Cror€ ) divded nto
3000000 ( Thlrty Lac ) Ord nary Shares of TK '10 ( Ien ) each with power to ncrease or reduce
thecapta and to drvide the shares into d ffereft c asses and to atlach thereto any spec a rghtor
prvleges or condtons as regards divdends repayment o{ capital votng or otherwse or io
conso idate or sub-d vide the shares.

14 Ihe share capita of tlre Company shalconrprrse ony of ord nary shares and sublect as
aforesa d the Company may ssue ordlnary shares of a snge class or of dfferent casses but
r,vhere ordinary shares oJ more than one cass are lssued lhe rghts as between the vanous
c asses oi such shares sha I be str ctly proporl onale to the patd up va ue ol lhe shares as regards
votrng. d vrdends and other benefts unless the Company determines otherwlse ln its Genera
I!'leei nq.

15 NO PARTLY PA D SHARES TO BE SSUED The Company sha I not ssue parlly pald shares
unessaoecisionrsanadeoLherwsebytheCompanyinGeneraLI'leeirng. lnthecasebfan ssue
of shares ior cash, the amount payabe on apprcaton shal be the ful norninal amount of the
share except where shares are ssued at a d scount.

16 SSUE OF SHARES: Subtect to lhe provsons of these Articles, the shares/debentu.es tn the
capita of lhe Company for the time be ng rema n ng un ssued. includlng any new shares resulting
from an increase ntheauthorizedsharecaptal.shalbeatthedsposaloftheDirectorswhomay
a lot or otherwlse d spose of lhe same to such persons on such terms and cond tLons and at
such t mes as they th nk fit

17 SSUE OF SHARES AT DISCOUNT Wrth the prevous authority of the Company in Genera
I\4eetrg and upon otheMise corfply ng wth the prov srons of Section 153 oftheAct itshal be
la\44u for the D rectors to ssre shares in the capita ofthe Company at a d:scount.

18 SSUE OF PREFERENTIAL SHARES Subject to the prov s ons of sect on 15.1 & 155 of the Act
and Arllcle 6 above, preference shares may be ssued on the terms that they are or ai the opton
ol lhe company 1o be iable to b6 redeom€d on slrch terms and n slrch manner as ihe company
rnay by spec a resolut on prescr be. g
19 ALLOTMENT OF ShARLS Ar 'eoaro- a' r d lol.1p'l o'
'' , .. 1.. D,'- l&- slble
for alotment sha I d-1, o'ro, r.dr-.o^.o' eCorod,/ r C"re€ the
^l- behalf with such of the provisions of S
specified n that 49 and
151 of the Aci and any ru es framed under the Act as may be applcab e thereto.

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2017735624

20. TRUSTS NOT RECOGN ZED: Except as required by law. no person sha I be recogn zed by the
Company as hodng any share !pon any trust and the Cornpany shall not be bound by or be
corope led in any way to recognize (even u/hen hav ng notice thereof) any equ table contingent
futur-. or pada nlerest in any share or any nterest in any fractiona paa( ofa share or (excepl
on y as by these Ariic es or by law otherwise provided or lnder an order of a coud of competent
tursdction) any other rights in respect of any share excepl an absotute right to the entirety
thereof in the req stered hoder.

21 WHO l\4AY BE REGISTERED AS SHAREHOLDERS: Shares may be registered in the name of

any naiura person any lraited company or olher corporate body but nol in the name of a minor
or a lunatic or insane person.

22 NO PURCHASE OF OR LOAN ON COt\,tpANyS SHARES Company shat not purchase or

otherw se acqu re any o{ its shares, and the Company shal .ot except as perrnitted by Section 58
ofthe Act gve, whether d rectly or indtreciy and whether by means of a oan glraraniee. the
provision ofseclrr(y or olhelwse. any inanc aiass stance forthe purpose ofor n connect on w th
a purchase or subscr pt on made or to be made by any person oi any shares of ihe Company or
g ve any oan L.tpon the securiy olany sharesoithe company.

SHARE CERTIFICATE

23. l,4El\4BER S R GHT TO CERT F CATE: Every person whose name is enlered as a member rn the
Regrsier shal without payment be entitled to rece ve after allotment or aeg strat on of lransfer one
cerlfcate for a I his/lts shares or several cerifcates each for one or rnore of h s/ ts shares Lrpon
payment of such charge fany astheDrectorsnraydeterrnineforeverycertfcateafterthefrst

24 SSUE OF CERTIFICATE The certfcete ofti e to shares shal be issued and sgned by the
Chairman and the lvanaging D rector of the Company or any lwo persons authoazed bi the
Board of D rectors and under the common Seal of the Cornpany

25 Tll\4E FOR SSUE OF CERT F CATES L_lnless the cond tions of ssLre oi any shares, ilebentLrres
or debenlure slock of the Company otherwse prov de, the Company sha I wtthin n nety days after
the a olmeni and u?ith n forly five days after receipt by the Company ofthe app icaUon for lransfer
of any such shares, debentures or debentltre siock complete and have ready for delvery the
certfcate oi al shares. the debentures and the certficale of at debenture siock a tott;d or
transferred. and unless seni by post or delvered to the person entited thereto wthin the periorl
aforesard the Company shall lmmediately ihereafter !lve nolice io tl.rat person rn the manner
prescr bed in these Artic es for the giving oI fotices to members that the cerlificate ts ready for

26 CERT F CATES LOST. DEFACED ETC] f a certificate of shares, debenture or debenture stock
s proved lo the sat sfact on of the Company to have been tost or destroyed or being deiaced or
mul laled or torn, is surrendered to the Company, and the Company is requested to issl.te a new
cerlrioateinreplacementthereof,theCompanyshalaftermakrngsuchenquiryasjtmaydeem
ft adv se lhe app icant w thin thirty days from the date oi appticaton the ierms and conditions on
v,hich the Company is prepaaed to issue a new cerltftcate and a t me for co therewth or
of the reasons why the Company s trnable to ssue a new cert nray be and n
lhe former case f the app icanl sha I with n the 1me a towed co
specfed the Company shai issue a new ceir ficate to the a days from the
date of app ical on.

TRANSFER AND TRANSMISSION OF S}fIN

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2011135624

27 TRANSFER OF SHARES: Sublect to the ioltow ng provis ons regardrng transfer of shares, shares
of the Company may be transierred at any Ume by a member wth the sancton of the Board oi
D rectors

28 F RST R GHT OF REFUSAL (1)No sharehotder can transfer rls shares before makng an offer
to the other exlsting shareho ders The ollered shareho der(s) can purchase sLrch shares with n
three morths of maklng the offer ftheofieredsharehode(s)fatorrefusetopurchasewthinthe
t me or any other agreed extended time wth the otfer or shareho.ler. the offer or sharehotder wit
deem to have the r ght to transler h s/ts shares to anyone of h s/its cho ce.

(2lNoh^/ithstand ng the forego ng. e th,or shareho der may at any t me transfer al or any part of its
shares to its subs dlafy.

29 FORN,I OF TRANSFER: The instrLrment of kansfer of any share in the Company shat be duy
stamped and executed both by the transferor and transferee, and ihe kansieror sha I be deemed
to rema n holder of the share lnti the name of the kansferoe is ertered n the Reg ster in respect
thereof. The rnslrument of transler ol any share sha I be n wrting in the fo loy/ ng form or rn any
usual or common form wh ch the D rectors sha I approve:

30 Name oi tlre Company: INVAR ANT TELECOI\4 BANGLADESH Lt4ITED

' _
,^,rye, of n consideraton ol the sum of Tk.
paid to me/us by _ of (hereinafter ca led the Transferee), do hereby
trafsfer
traf sler to the TransJeree __,share(s) numbered _ to _ inctusive. ia
the uFderiak ng caled NVARANT TELECOM BANGLADESH LtMITED to hotd unto the
Transferee hrs/h-.r/ts/the I ega representativ€s and/or assrgns, slrbjeot to the several condtons
on wh clr I he d the same at the t rne of the exec(tof hereoi, anrl l/we the Transferee. do hereby
agree to iake the sa d share(s) subtect to the conditrons atoresa d.

As wrlness our hands the day of _ 20_.

31 Slgned by the above named n the presence of
( )Witness to:
Signature
Occupal on:
Address Srgnature ot the Transferor

S llned by the above named n the presence of

( )Winess lo
S gnature
Occupat on:

Signature ol the Transferee

32 WHEN DIRECTORS N/AY DECLINE To REGTSTER TRANSF&q:'hElilec{irs shati not refuse to

*
register the lransfer of fr.t y paid shares untess the instrument i4{rLtiltlji&dfective or invalid of is
not accornpan ed by the cearificate of the shares lo wh ch i re at6?-.!"W;&liictors nray a so dectine
to recogn26 any rnstrument of transfer uness i s accorapan ed n aakht on to the certfcale ofthe
H--",i .":
sharestowhch L relates by such orher evrdenLe rs tq+ondb y equire which
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2017735624

33 f the D rectors refuse to reg ster a transier of any share they shat, wth n thirty (30) days after the
dateofwhichthe nstftrrnent of transfer was odged with the Cornpany send lo the transferee and
the transferor notice of the reiusa indicatng the reason for such refusali provrded that f the
Directors refLrse lo reg ster a transfer of shares on account of a defect n or invaldity of the
nstrLJment of transier, the transferee shal be entitled after remova of such deleci or inval cl ty, to re
odge the nstrument of lransfer with the Company.

34 TRANSI\4 SSON OF SHARES (1)Any member may make and deposit wth the Company a
iom naton in writing specfying one or more e gib e persons who or each ofwhom rntheeventof
lhe death of ihe member, may be entered rn ihe Reoister as the ho der of such nunrber of shares
specified in the nominat on for such nominee or each such nom nee of which the mernber remains
ihe reg slered holder at the daie of his death A person shal be eigbe for nominaton for the
pLrposes of ths Aricle ony f he s a spouse parent brother sister or child (ncludng step or
adopted chrd) of the member nom nating h m and lhe app cabte re ationsh p sha I be specfed in
the nomlnation I respect of each nomnee Amembermayatanytnrebyrotceinwrtngcance
or by makng and depositlng wth the Conrpany another nomrnatio. before hts death vary any
nornination a ready made by h m pursuanl to th s Ad c e

35 (2) n the event of the death of a mernber any person nomnated by hm in accordance u/ith lhs
Aricle may olr written app cation accompanied by the relatve share cedifcates and evdence
esiab ishing the death of the member. requesl the Company to register hrmself in pace of the
deceased member as the holder of the number of shares for which the nom nation in h s favor had
been made and deposiled wrth the Company and tl t sha I appear lo lhe D rectors that it is proper so
to do the D .ectors may register the nom nee as the ho der oi those shares n place of the deceased

36 R1GHTS OF PERSON ENTITLED BY TRANSI\I|SS ON A person becomrng entifled to a share by

reason of the death or nso vency of ihe hoder shat be enUted to the sarne dividends and other
advantages to which he woLr d be entit ed lf he were the reg siered hotder of the share except thal he
sha not, before being reg stered as a member in respect of the share, be entlt ed n respect of it to
exercise any right conferaed by membership n relation to meet rgs of the Company

ALTERATION OF CAPITAL

37 POWER TO ALTER CAPITAL NCREASE, CONSOLIDAT|ON, SU B D VISION AN D

CANCELLATlON
The Company may by Ordinary Resollton ancl sublect to comp iance wth the requ rements of
Secton 53 of the Acl

(1) ncrease the authorrzed share capital by sLrch slrm. to be divided into shares of such arnount, as
the resolut on shal prescrrbe

(2)conso idate and d v de ils share capita nto shares of arger amoLJnl than its ex sl ng shares

(3)by sub divslon of its ex stng shares or any ofthenr divdethewhoteoranyparlofitssharecaptal

into shares of smal er amount than s Jxed bv the [4enrorandum of Association

8 a "..r :i 'E
r.ld'6./,r n.Lrl ecdl' or thc pass ns "+-\
'Bi.W)-_Ft been take n or
asreed lo be iaken by any person. "' ""
?.\!!!'/r
39. REDUCT ON OF CAPITAL: The Company may by Specrai n"ro ut';frrd;€ its share capira in
any manner and srbject to corlrp iance of the requirement of Section 5S_all[.Ehcr"jrn
attrs Er
4!lta Er1'q I

40 WHEN SHARES TO BE OFFERED TO EX STING MEMBERS ln resoeci of

shares lhe D rectors shal be entiUed to soek the d rect ons of ihe Com ra Meeling as to
tn-{r)
20 t7135624

lhe persons or c ass of persons to whom the shares rfay be offered or as to any other matter relating
to the issue and may offer the shares I accordance with those d rections

41 Subjecl to any direcl ons to the contrary that may be gven bythe Company n Genera l\4eetng at
shares nlended to be issued by the Directors shal before issue, be oflered to the members stric y in
propo( on to the amount of the ssued shares held by each member (irrespectve of ctass) provided
thal iractiona shares shalnot be olfered Such oifershal bemadebynotcespecfyngthenumber
of shares offered and lmiting a time (not less than 30 days) with n wh ch the offer if not accepted,
wll be deemed to be dec lned, and aJter lhe exp rat on of that time, or on the rece pt of an ntraation
fronr the person to whom the offer is made that he dectnes to accept the shares offere.t. the
remarn ng inleresied sharsho de(s) sha I have an opiron to purchase lhe sald shares proporlionate to
the r shareho dings at a pr ce at wh ch they were al otted

12 I\IODIFICAT ON Of RIGHIS Where the capitat lby reason ol the ssue of preference shares or
olherwise) s d vded nto d fferent c asses of shares a or any of the rights and prv eges attached to
such class rnay. subiect to the prov sions of Seci on 71 of the Act, be modified. commuted. affected,
abrogated, vared or deat wth by agreement b€h^/een the Company and any person purportng to
conlract on behalf of thal c ass, prov ded such agreement is consented to n wrtng by the holders of
at least three fourths of the ssued shares of that cass or sanctoned by a resoluton passed at a
separate genera meetng of the holders of shares ol that class and al the provisons hereinafter
conta ned as to genera meeting sha i mutatis mlttand s app y to every such nreeUng. except that the
quotum thereof shai be notlessthanlwo persons holding or representng by proxy onejifth ofthe
nomlna amount of lhe ssued shares of that c ass

43. This Artic e s not by mp cat on to curta I the power oJ rnodtfcation which the Cornpany woutd have ii
this Art c e were omitted The Cornpany sha I comply wrih ihe provsions of Section 88 (lj oftheAct
as to forwardrng a copy of any such agreement or resolut on to the Registrar

GENERAL MEETING

Except as may be a lowed under Secl on 8T 11) of the Act, an Annuat Generat i.4eeting sha I be hetd
not rnore than eghteen months after the tncorporaton of the Company anci subsequenty once n
every year and not later than nine months afler the end ol each financ al year of the Company, and
notrnorethanifteenmonthsshalelapsebetweenihedateofoneAnnua General L4eetinq of the
Company and that of the next The Annual General lvleet nq of the Company sha I be he d at sLrch
place and ai such trme as the directors may from t me to i me determine

45. OTHERS ['IEETINGS AlGenera Meet ngs olher than Annua] ceneral l\4eetings shat be caled
Extraord nary General I\4eetings.

46 EXTRAORD NARY GENERAL N4EETING The D rectors may, whenever they thnk iil cafl an
Extraordinary Oenera Meetng and ExtraordrnJy Generat Meetrngs :!a I al:!_qe lgled on such
reqlistion or ndefaut.maybecaledbysuchrequsitonsts
h ,.o r sirol src as o.o britsl .3
rcq bv6iiillh 8,EOf the Act.
provid#
"-
17 NOTCE OF GENERAL IvIEETINGST (1)Noireofrsperra resoution adu
-dd#qll[{eeting shatbe
senl in the manner here nailer ment oned at least t\ enty one (211 days beldldife_-date on whlch the
meeting is to be convened to al sLtch persons as are under these Artices eniitled to
rece ve such notices frorn the Company and Shal Specify the place r of the
meeting and the nat!re ofthe bLtsiness to be transacied thereat

Eiilr)
2411135624

(2) lf the case of an emergency affecting the bus ness of the Company an Extraord nary ceneral
I!,leet ng may be convened by such shorter not ce than that specified tn Art c e 33(11 as the Board of
Co.npany may author ze

48 (31 Where any speca blsiness, lhal sto say, busrness other than cons derat on ofthe accounts,
baance sheel and the repods of the D rectors and Aud tors the dectaration of divitend, the
appointment and fxation of the remlneraton of Audrtors and ihe e ection of Direciors (at such
r.atters beng heren referred to as ordinary busness] is to be iransacted at a General l\4eeting a
statement sita be annexed to the not ce of sLrch meettng sett ng olt al such facts as may be mater a
ior the cons .lerat on of such bustness inc ud no the nat!re and extent of the interest lwhether d rect
or indlrecl) of any Drreclor. and where the tem of bus ness nvo ves approval of any document, the
time and p ace appo rted for nspection thereof: and to the extent app icable such a statement sha I
be annexed to lhe notice also n the case of ordlnary bus ness to be transacted a1 the meeUncr.

49 Otu{ SSION TO GIVE NOTICE: The acc d€ntal onriss on to g ve notrce of a meeting to any person
entited to rece ve notce shal not nvaldate the proceeclngs at that meeing, but any special
reso ulion passed in that meetrng has to be endorsed by caling another General llleeting serving

ouoRUrvr (AGM)

50. 2 (Two) shareho ders shalform the Quorum No busness shal be iransacted at any Generat
l,4eetng unless a qLrorum s present at the time when the meetng proceeds to business, save as
herein otherwise provded rnembers present in person or by proxy or by an agent or represeniative
du y authorized n wrt ng

51 WHEN IF OUORUful NOT PRESENT, ]IIEETING TO BE DISSOLVED AND WHEN TO BE

ADJOURNED lilvrihn an hour fronr thetmeappo.ted forthe meeting a quorurn snotpresent,ihe
Genera Meet ng, if cal ed upon the requis t on of members shal be disso ved in any other case, ii
shal stand adiourned to the same day n the next ureek at the same tme and place and. if at the
adjolrned meetng a quorum s not present wi(hn haf an hour from the irne appo nied for lhe
meet ng, membe(s) presenl at lhe t me may proceed w th the mel]t ng which w I betreated asduty
held General [,]eetino

52 CHA RI\,IAN OF MEET NG The Cha rman of the Board of Directors sha I preside as Chatrman at
every Genera l,4eeting ofthe Company. or fthere s no such Cha rman for the hotding ofthe meeting
or is lnw I in! lo acl the fu4anag ng D rector sha I presrde as Cha rman of the rneeting or f the
[,lanaging Director is absent or unw I ing to act any one of the Directors present rnay be e ected to be
Chairman of the meeting or i no D rector be present, or if a I the Directors present dec ine to take the
cha r the nreribers present sha lchoose one oilhelr numbers lo be Chairn-ran ofthe meeting

53. ADJOURNMENTST The Charman may with the consent of any meelng at which a quorLrm ts
present and shal (i so d rected by lhe meeLng), adjolrn lhe meeing from tme to time, but no
business shal be lransacted atanyadlourned meeting otherthan the bustness eft unfnshed atthe
meet ng from wh ch the adjournment took p ace. When a meetinq is adjourned for ten (10) days or
more, not ce of the adlourned meeting sha I be g ven as n the case of an originat meeting, but it sha I
nol be necessary to specfy n sLrch notce the nature of the business to be lransactecl at the
drt.o..-od rea t-9 Sd.-a,r,ore<ao.\ r.l -o. ba -e-6<sar/ lo q .o a4/ 40 ("$ato,^.",t
- or I e o-\r'Fs. Io oa "a_sa.lao al a,l au.o-' ad | 6ar'-g
54 HOW OUESTIONS TO BE DECIDED: (1) At a Genera Meeting a resold
B f lJe
-ld.Jfr'e vote ol the
meehng sha I be decded on a show of hands Lrn ess a pol s (beiore or dbclaration of lhe
shov/ of handsl denranded

(a) by the cha rman oJ ihe rneeting or

r:!.rs.fu.3.--
''
Aa"),-\
.Ea,A o?F'l /
*:II1',:LM/l\
2417735624

(b) by any menrber or nrembers present in person or by proxy ho ding nol less than one tenth of the
issued captalwhich carres votng rights

55 (2t ]f a po is demanded. t sha I be taken n sLrch manner as the Chairman of the rneeting directs.
The voles gven on a po shal be scrutinized by the Chairman or a scrLJtinzer nominated by him,
recorded in writing and signed by the members The result of the pol shal be announced by the
Chairman and sha bedeemedtobethedecsionofthemeelingoniheresoutioninrespectofwhich
the po I was demanded The cha rman sha I not have a cast ng vote

VOTE OF MEI!1BTNS

56 RIGHT TO VOTE On a show of hands every member present in person sha I have one vole. On a
po every rneriber present in person or by proxy sha i have one vote n respect of each share held by

57 PROXYTOBE lN WRTNG Ths nstrum-ontappontngaproxyshalbeinwrtnounderthehandof

lhe appoinler or. ii the appolnter s a legal persona lty either ltfder seal or under the hand of an
author zed otfrcer or attorrrey dLr y aulhor zed. A proxy need not be a member oi the Company

58 INSTRUN1ENT APPOINT NG PROXY TO BE DEPOS TED The nstrur.eni appoint ng a proxy and
ihe power of aitorney or oiher authorlty (f any), under wh ch t is s gned or a notarzed copy of that
power or authorty, sha I be deposited at the Otfce or shal be kansm tled by facsmle to the Office
not ess lhan fofty eight hours before the tLme for ho ding the meet ng at whrch the person named in
the nstrLrment proposes to vote and in default the nstrument of proxy sha I not be treated as valid.

59 FORI\4 OF PROXY An lnstrument appo ntlng a proxy may be n the folowing form, or n any other
iorm wh ch the Directors shal approve

60 INVARIANT TELECOI\4 BANGLADESH L N4ITED

'llwe, being a member of INVARIANT TELECOM

BANGLADESH LIMITED, hereby appoint of . .. .. .. as my/our proxy'to vote for
me/us and on my/our behalf ai th(Annual or Extraordlnary. as the case may be) General l\,leelng of
the Company to be he d on the day of__ and at any adlournment thereol

Sg'edl., da,o' 20

61 hereby recod my presence at the (Annua or Extraordlnary as the case may be) Genera Meeting of
the Company to be held on the day of and al any adjournnrent thereof

Name
S gnature
(Please compete th s and deposit aithe reg straion counter on the day ofthe nreetrg)

DIRECTORS

62 U_|F,,Ol renr.,edararrrpoo)I-6'orpd ytrg-re'd n ..lt-)q l' e ru:ioer 9d hallnot be

re.\rl r'2-^.dror laop d,'0ti/ l)e olo^i'rg oe.ors of the
o'rodn. L , ess " rronc o' L_eal .o -rnr r '-s or l'le -drd of -e or'1,$0y',fiO
oi&{**
I de' t5-oro.i.o-'or..ct.1 '08'\oflL.. o*pa.'e:A r.'9o4 tu.rr-"-

1. Sayeeda Roxana Khanam

2. S. MD. Jashim l,Jddin Chisty

trrnr)
2Ci7735624

63 DIRECTORS TO BE ELECTED: At east tweniy (21) days before the date of the first Annual Genera
Meet ng and of every Genera [/]eetLng at which D rectors are ntended to be elected lhe Dtrectors
sha I f x the number of e ected Directors that the Company sha j have from the effective date of the
elect on and the nomber of srch Directors who sha I be elected at the meeting

64 PER OD OF OFF CE OF ELECTED DIRECTORST A Dreclor elecled bythemembersin General

Meetng shai hod offce for a period of three years folowng the date from whlch his electon is
effective unless he ear rer resigns becornesdsqualfedfrornbeingaDrectororoihelwiseceasesto

OUALIFICATION SHARES

65 OUALIFICATON OF DIRECTORS The qualfcation of an e ected Drrector, in addton to his/her

be ng a member v/here required sha I be his/her ho dinq at east 1 (one) share of the nominal value
of Tk 10 at eastrn hrsown name. HoweveT a nom nee Directorofa Company shareholder sha i be
consideled as havng quallfrcation shar€ provided that the Conrpany shareho der he or she
represents hods share oithe nom fa valueoiTk.T0atleast
66 REIVIOVAL OF DIRECTORS: The Company in General N4eet ng rnay remove a Dlrector from office by
a reso ution passed wrth the reqLJis te number of votes determ ned n accordance w th the prov sions
of Section T06 ofthe Aci lf the Drrecior removed s a nornnee ofa shareho der. such sharehoder
sha i have the r ght to nominate another representat ve to be appo nted in the Board.

REMUNERATION OF DIRECTORS

67 The remLrneration ol a D rector for atlendrn! meetings of the Board shal from tme to time be
determined by the Dlrectors The Board of d rectors may e ect to pay al or part of the trevel ing. hotel
and other expenses propery ncurred bya Director in attend ng and returnng from meeings otthe
Directors of any comnrttee of Djreclors or Genera l\4eetinos ofthe Company or n connection \riith
tlre business of the Company.

ALTERNATE DIRECTOR

68 A D rector who s aboul io leave or s absent for a per od of three rnonths or more from Banoladesh
nray with the approval o, the Board of D rectors appoint any person who s not inelglble under
Sect on 94 of ihe Act for appoinlment as a D rector asanAternateDrectorunderS@ction101 durng
h s absence from Bang adesh and sLroh appo ntment shal have effect and such appo ntee wh lsl he
hods office as an Altemate Director, shal be enti|ed to exercise n pace of his appointer a lthe
functions of hrs appoinler as a D rector of the Company but he shal lpso facto vacale olfce as and
when h s appointer returns 1o Bangladesh or vacates offce as a D rector or removes the appo ntee
from office An Allernate D rector need not ho d any share qLra ilicat on

BORROWING POWERS

69 The D rectors may exerc se al lhe powers of the Compafy to raise money and to mo,lgage or charge
Lts undedak nq or property or any part thereof and to ssue debentures and other secuities whether

o,e., . -o .t.F oonar , or.hp uo1 oa. dlo.e)di4 tr,e D.6.Lorc TaD fr
rF'1 Ar u . ord o" r- rhe) r_r1- 'l 'Jr,, -o\er t o "t o.r'k. dB I utions and from
o. e oc'io1- -rdar a_r De-_1116 r:/ rpT o I r.l _o re',lor p 6kd of lnterest or
ore o'l p' orn- oI rer..'l ^
''o-",E
70. VOTING POWER| The number of vote< llral ed(h clreclor wrr Oe $q]l!hi+*ore.mt wl be striclly
proport onale to the sharehold ng n the Companyofthe Shareholder *}6t ndFlflSlbrtha!d rector (but
\/here rnore than one d rector nominatcd by a Shareholder voies on a matter before the board, the

ta1t.ni,rtan ,^
'*:a"i1;ILU
21a11J35624

vote of al d rsctors appointed by a Sharehotder wil not exceed ihal number oi voles as is
proportionate lo that Shareholder s shareho ding)

71 POWERS AND DUTIES OF DIRECTORS The bus ness of the Company sha I be managed by the
D rectors. \,vh.r r.ay pay alexpenses incurred in promoting and registerng the Company and may
exercse al such powers of the Company as are not by the Act or any statutory moclfcation thereof
for lhe t me berng n force or by these Ad ctes or by a Spec a Resotul on requ red to be exerctsed by
the Compafy n Genera l\4eetng subleci nevedhetess to any regu ation of these Adictes, io the
prov sions of the Act, afd to sLrch regu ations be ng not incons stent wth the aforesaid regulations or
provrsions as inay be prescribed by the Company n cenera Meeting but no regu ation made by lhe
Company n General N4eettng shal invaldate any prior act ofthe Directors whch would have be€n
va ld f that regulat on had not been made

72 The D rectors may from tlme to time de egate al or any of the I powers and authorities herein to any
Committee, the [4anag ng Directors, D rectors. offcers of the Company and/or any other person(s) aa
they may decide

73. PO\rVER OF ATTORNEY The D rectors may from t me to t me and al any t rne by power of attorney
appoinl any company. f rm or person or body of persons, whether nom nated direcfly or ndirec|y by
the D rectors to be ihe attorney or attorneys of th€ Company ior such purposes and wrth such
powers authontios and discretons (not exceed ng those vested in or exercisab e by the D rectors
under Lhese Arl cles) and for sLrch period and subject to such condiUons as they may th nk lt, and any
such powers of attorney may conta n such prov stons for the protectton and convonience of persons
dealng wth any such attorney as ihe Directors may thnk fit and may aso authorlze any such
atlorney to delegate a I or any of the pov/ers authorities aad Lj scretions veslecl in him

74 OFFIC AL SEAL FOR USE ABROAD The Company may exerctse the powers coniefied by Sect on
l29oftheActwithregardtohavinganoffica seatfor use abroad and such powersshatbe vested
n the D r8ctors

75 COND T ONS ON !ryHlCH DIRECTORS UAY HOLD OFFTCE OF pROFtT: An emptoyed.D rector of
the Conrpany may wth lhe consent of the Company in Generat N4eeting hold any offrae of proftt
whether under the Company or nol. However nosuchconsentrsrequredwherelheofficehedis
lhat of lega or techn ca advise, or banker

76. l,4AKlNG OF LOANS ETC: n the matiers of granting toans, gvng guarantees and provding
secuntes to or for the D rectors the Company sha have due regard to ihe proh bjtons and
reslrictons contained n SecUon 103 ofLhe Act

DRECTORS t\,tAY CONTRACT WTH COMPANYT SLrbject to authorizaton beng gven by the
D rectors in accordance with Sectlon 107 of the Act, a D rector shafi not be disqua ified from
contractrng w th lhe Company e ther as vendor purchaser or otherw se, nor shal any such contract or
arrangenrent entered into by or on beha f of the Company w th any company or parlnership of or in
wlr ch any D rector of the Company shal be a rnomber or otheMise tnterested be avolded nor shal
any such Dlrector so contract ng or be ng such member or so lnterested be iable to account to the
Company lor any proft rea zed by any sLrch contract or arrangement by reason of such D rector
holding lhat otfce or ofthe f duc ary relaton thereby estabtshed

1A "lore.e. L . p,p! .oo t-dt \J.f Dr^-orrdt os.o\e tla.,f ,= t.&, E

OEIO e p '6r'tq rto r-, O.t, i \,1 L-e _Orrl,a. "f dFD)
"{.\Y.../,
79 D.ol . lOa -lOLDl\ -l
r Ol--iLr n, CO\4PANlL> lN ,{h,C- TrlE COI\./tPA(V ERESTED: A
D rector of the Company may be oi become a d rector of any other co by the
Conrpany or n wh ch the Company may be lnterested as a vendor s
2A17135624

such D rector shall be accountable for any benelits received as a ditecior or nember of such other
company

80 SIGNING OF CHEOUES. ETCI A cheqLres. prorn ssory notes drafts biis of exchange and other
negolabe instrirrneNts :rnd a Iece Dls for moneys pad to Lhe Company shalbo sgned drawn
a.;epled endorsed o olllerwise execuled, as the case may be ln such manrler as the Directors
sha fron tnre to tLme by resoLulon determlno
[,]iNU"lESTheOrectorsshalcalsenrnlrtestobemadenbooksprovldedforlrepirrposeandkept
al Ll€ OIi ce
(a) of ar I ep'lro nLm,cnts ol oifioeis mad1] by ltre Dlreclorsi
Dlrectors prese;t at each meellng ofthe Drectors end ofanyconrr ttee of
inl otit,. no.""otrt,u
D re.tairs
Ll niuli,,,.outl.". i..1 proc.edinlls at al nr-oatrngs ofthe CornDany andof theDireclos andof
.c rrrrttee of DlrE.luf.i

82. ?ndtheDrarto'spresenialn:l,rneelFEolDLrarctosorcomnrLUeeolDrrectorsandalr'ernbersand
proxes ol nr-.mrrers pr.sent at aiy Gel!,i,ri llle.lfg slral sgn lheir n:rrnes rn books to be kept for
it,;i ;;;*" and any s!ch n,nL,i-'oi such a meetlns I purporing to b-" sgned bv the chairman
tlrereof cr bythe ch:r rr.r::n ofthe ncxt s!a:ce"d nll meetng oflhe ser'e body stralhe
sLiffcient
o./rCenct, !r llout any lurthel prcof of lhe facts there n slated

OISQUALIFICATION OF DIRECTORS

sha rpso facto .ease to ho d ofl ce if

'
" rector
83 A 1l
rrrels r e to be appo nted as a D lector on anv one or more oi the
qrounds
i;; ;"-;;;;.
spec lei n Sect on 9'1 of the Act or
rtr ne:bsents lrlrsetlomthreeco secutve meetngs of the D rectors orfrom al r'eetngs of
,". o', iia-rt i" od oi three nlofihs \(h'che\rer sllle onger' without eave of
abs-"ice frorl th: ".""tnt.r.p"
Board of D rectLJIS or
r.i he.r env firm !f whch tre s a partner or afv lrlarc 'ornlrrn\ of ^hcf he s a drrector
nrolLra'Fn onotsEtton l0lol,lheAd or
"lruptintjno,gr"o'rteelr.n'thecnml'rn/ oraLanYLinre
iii-t,[t.,""rr,i"*nlr!]twon-ronrhsIonrlre'ftc'L'!!lateolhrsapLont'nEn
iherealle ceases 11r rold the share q!aifcetion necessary for h s appornlment
(c) he ccases to I-'e a nonr nee oftlre Shnieho der

84I'IEETNGSoFTHEBOARDoFD|RECTORS(1)TheD]r€ctolsmaymoetlogotherfolthe
trorao
..,I.r'.,e: "o:'d ""' l'1''i
."",,; ." q ,.,0.,',r ' 1 D'"- r''(P16'"'o
lDirBctors
i"" i"rt, of a'Dreclor sha at any tlme sLr'nnon 3 mi'o1'g of Board can
corvere.1",t*
neelng b.lh n Ben.qi:desh:s wEl as n any otlrer c'r rnlry

' - (2r Srbteft to apt ,rahlrf

85 cable
'aws tre D rect.rrs nlay partlc pale in €oard [rleet ng bv means of
o prov de.l caclr Person tak ng part n the Boerd N'leet ng is atr e 1t] hear
hs
otl',","o'r,rr"
",,tto"l" p=,aon taknq pai and provided fLrrther that each Drcctor mLrst acknowlodoe
ed
"",,t, 3ny D rectors not dolng so sha I nol be enl I 10
ii"senc" tr,i the plrfose board maei ng and qrl partcrpatrrl r the Ll l\1eetr19
:'; ;; ;"," ai srcr board nreelnq dre'tnr Bo'; rn

:;i;;;;"; ili,. ;rcre oztzr "ru r i,e the pur'"e oi cunsrtu tns the qlrorurn or

-d'''|
n'.lLrded 'or
i"lr, .."t"g Th-a rrin!l-'s of lhe r.eehng inrrst be r'-'orLleJ n ' Lllq ry'runed lrv ea':'h

oUoRUlvr rBoard rvleetins)

e,.-6E
"t -Sa'r/.i;-
.gfi
E6 2 (Two) D rectors shal fom the QLourn rB'ro r'l*Ln'' 1g'-'^'t" 'l:,':t:'-have
:n:::
:,i,i,lH,L.?i::'?;";i i1 l;:l i" #";;;; ; ;;; ;;,:""dlesteqv on v one
247713\624

d r,ado due Lo lhe resgnatof or transfer of shares by other diredor(s) the Temarnng soe
.l .e.to sha i conduct a va d meetlng desp te the non lulfiiment of Quorum
CHAIRI\{AN

87 'l he lloard sha I from 1:ne b I nre by s mp -o nralor ly vote elect one of the Directors as Cha rma|
ol the Boa d oI D reaLors ihe or n his aDserce the Llanag ng D rector sha preslCe ai
Cha rmar
a meet ngs of the Board blrt fatanymeelng reLherlheCralrmannorihe[']anagngDrrectoris
fr-.rent 1or hc d n! tho sane. the D rectors present may choose one of them lo be cha rman of
the lxe-at ng

RESOLUTON iN WRTNG A rBSoLrlon ln wrLng signed by a the D rectors (not berg ess
ihartherequste!rorLrnolDrecLo.si shal lre as val d and effectual as if t had been passed at
a meel ng of lhe D rectors du y cal ed arii cofstituted. Such resolut on may be contalned I one
aacr menl or i severii documcnts n ke form each slgned by one or nlore of the D rectors
concerned Adgrt.r ysrfgedernir nressageorfacsmletransmssonsentbyaDr-.ctorshalbe
dcerre.l to bc a dcc!ment sr!ned by h m {or Lh,r purposes ofthls Aficle.

IVIANAGING DIRECTOR

89 S. [40. Jashim Uddin Chisty The Company sha I have an cffrce of Manag ng D rector wh ch
sha he fled from 1me to lrne t,y the Directors for a period nol exceed ng three years and on
sLch Lenrs and cond(ions as ihe D reclors nray thlnk ft, and sLrch appointrnent shal be rnacle
rithrn Io!rteen days from the dato on r,r'hclr lhe offce of L4afagfg D rector la s vacant
l,4anag ng D rector may be removed from offrce by a resolut.rn of the Board of D rectors

!a RE[,]JflEI]AT ON OF I\'IANAG NG DLRECTOR The lvafag ng Drectorofihe Company shal

ernuneralron as th.r Olrectors ..ay delerr.re and t may be made a 1er.n of hls
appo,nln.ni that h,. be paid e pefs;io o. Erat! ty on rel remeft f'om his oif ce

POWER OF I\,'IANAGING DIRECTOR

9l SLrttect to the contro and a Bction enlre management of th-o bdsness ofthe
ofihe Board Lhe
Company sha be n the r.rnds of lho [,]3nas SLrbiect to the pror approva ofthe
rg Drector
Boar,-l [r]3nag n.r D.ectorshal havepowe'andalrlhortyonbehalfofthoComparytomakea
plrahases ancl saies to ente inlo a conlracls ard to do a clhel acts and thngs usua
nscessary or desirabe in the management oi ile aifairs of the c.rmpany or n carry ng out 1s

!12 To ns:tLrre cond!cl. delend. conpromse rEfe. to arbitraion and abandon ega and other
iiroceed fr^s .larms ard d spuies in whi.h the Company is concerned Lo s gn on the Company s
trehaf b s notr's receLpts acceptances endorsements reeases coniTacts conveyances,
C.e.ls ackn.w edgnr-"nts afd a othel docrments and to appont and employ Ln or for the
pliposg of the lransaclon and managemenL of t[e affa rs 3nd the bus ness of the company. or
oihe \r s.r fo the purpose trereil and from tLme lo tLnre renrove or sLlspend brokers, cerks
servants afo other enpoyees as lre sllalthnk prop-ar wilh slloh powers and dlrties and upon
such t-.rms as to CLrraton of ernp cymenl refiuneratorl oI otherwse as he sha lthink flt

93 Tho D fectors may enirrsl to and c.nfer' Lrpon lhe L'lanag ng Dlreclor of Lhe Company any of the
rollers .xercsabe by tliern, ex.ept those EqLrrred lo t,eJ/e c]j{la-on rx;lrv I meetng ol the
D ectors rpon s|rch lerms and .ondrlons :no lh sut r #6tr6.lstils th:ev nra! th nk ft and
', : o ,' ,t'o' ",'."1",ry.i4;lhl^$'
' -s-\$/.^i,
BANK ACCOUNT '1?i:- '"
9,1 Tho Conrpany sha open b!nk accoln'L1sl (.Lrrent or salf$sp.{eEerEn c(rrenoy) n any
sche,lri6 bank ol Eanq adesh or n abroad as the Eoerd sha
)D177 t\624

Ihe bank acco!rrt shai be operred and operated by the srgnature ol the tr1ana!ing Director end/or
D re.lors andror aLrthorzedlnom faled sgnatores as deem approved by the BoarC of Directors

THE SEAL

95 The D recto s shal prov de for tie safe cLrsiody of the Sea \/Jh ch sha I on y be used by the
a.rLhorty of ih-o Drrectors or of a .romm tiee of ihe D rectors author zed by lhe D rectors in lhai
Lerall anai every nstrumenl lo vJhich lhe Sea sha []e affrxed shal ether be sgned by oae
0 rectcr ana coLrnters !jn.d by a se.ond D rectcr or by some other person appolnted by the Board
cf Di e.tors for lhe purrose .r be s gned try the l,lanag ng Director of the Company alone.

DIVIDEND AND RESTRVE

96 1T)Tl're Con.Dany a gen.rra nreetng may decare a dvrdend 10 be Dad to the rnembers
ac.ordfglotheirrghtand nterest nLheprolLsandnrayfxlh,oir.ireforpayrnent.
i2lNo argor C v d.nd sha I be de. ared than is recommended by the Boald btitlheCompany n
a qenera m-ael no nray Cecl3re a snra er d rid.-fd The a,nount of d v dend r-.commend-.d by the
Eoard shal bc ihe max rnlm penn ss be vrrttrn lh-o provis on ofihe Act

(3) Nc di! dend sh3 bo payabie excGpt oLrt of the profls of the Cofrpany

i,1l D \,,dends and other payments Lo slarehoders contemplated in these artrces shal be
deoa'ed n i re Bang adishlc!irren.,

9j NTERNI DVDENDST TheDrectorsmEyffomlrnetotlmepaytothernernbercsLch nterim

.r ,idends as appear to the D rectors io be iLrstified by the prof ts of the Company

!8 RESERVF FUND lll1h-.Bc;rrdmayLrefoerecomnrendnganydvLdend set asrdeouLofthe

pr.fts of the Cln-rrany sLr.h sL.rnrs as ih-ay th nk proper as a reserve or reserves lYh ch she l, at
Lhe d scret on of th-. Board cl Drredcrs be app cabLe for meet ng continltencies, or ior equa iz ng
dir dends. or for any other purpose to wlr.h tha profts of lhe Comp3ny ftray be properly app red
aNdpendn0slchappicallcn.attrs ke discrelon etherbeemDoyed I the bus ness of the
Con pany or be invested sLrbl-act to ile provsons of the Act. in such nvestmenls (other than
slrares ol tlre Co pany) as tre D rectors may fiom 1 e to t nre th nk fli

9! i2rTheBoatdnayalsocarryfonvardanyprdtswhchtheynraythnkprudentrol todstrbute.
tr -J' r, d

l0C RGHI TO DIVIDENDS AND APPORTIONLIENT Al dr!.i,"nds sha! be decared and pad
;i..od ng io ihe amounts paiil o) the shares Al divdends sha be appodoned and pad
prcpo tona y 1c the amo!nts pa d oi .redrted as pi:rid on the shales dur fg any polt on or port ons
oi the per od r respect of \r'h ch the d vidend s pa d but f any shale is ssued on telrns pro'/id ng
thal tshal rank for d,rdend as fronr a paicuar dale such share sha rank for dvidend
accord.g y

''' i:i5'.:;i, lff l:":H, :il1;r:ii :';; :,ii ll,","i,i: &'1fi..m1"'r€

-a \'la/:/. 5
dv den'r dec a red

t!2 DTVDEND NOT TO BEAR NTEREST N! d"rde.d p:i ib J.tr!trY!-Btri'of r share sha bear
'' ,9 ,'Co 0, .

,r,r{i 'ftsr ?i4r)

''
":43 .dc(Fil /
2417135624

103 UNCLAII\IED DIVIDENDS: All divdends unclaimed for one year afier having been declared may
be lnvested or otherwise rnade use of by the Board for the berefit oi the Cornpany unt I claimed,
and the Company shal not be constituted a lrustee in respecl thereof.

ACCOUNTS AND AUDIT

10,1 The D rectors sha cause to be k-opt profer books ol accounl !v th respecl tol
ia) a s,.rns ol money rece ,ed and expefded by the Company and the ffatters n respect of
,\,hlch the rece pts afd expefd tLrr€s take place
1lr)a sa.rs and p!rc:rases of goods by Lhe Company
(cl a assets of ihe Company:
idl a i I ab I t es of the Company and
(e)uher-.ir-.provsionsofSectronlSl(1)(dloltheAciareapplcab-. such parlicu:?rs 'e at fg to
uL I zallon ol rnaier a or labolrr or lu .rther lnp!ts of lems or cost as nlay be prescr bed.

105 !ryHERE ACCOUNTS TO BE KEPT] The books oi accoL.rnl sha be kopl at the Offce or at slch
other pace I Banqsdesh as the Dire.tors may decde end sha be open to inspection by the
D recbrs dLrr n9 bLLS ness hou.s lf ihc D rectors decide io keep the books of account ai a p ace
other than tie Off.e they sha compy Wtr the d reitions .onLained in the provrso io Socton
I81ri I oi the Act

It6 ANNUAL ACCOUNTS AND REPORIS ll) The Directo s sha arrange to pLace before the
AnNUar Gerera l'/leeing ofthe Company r evlry year a dLr y ald ted balance sheet and profit
ard ossaccount.oniornngtother-.qurementsofSectr.nsT85 T963nd187oftheActand
mad-a up t. a date noi no e than sx nrlrnlhs before the date of such meet ng and having the
aud 1or's report attached lhereto enC a report oi tfe D rectors confcr.n ng to the req! rements of
Section 18,1of the Act

107. i2tAsreqrredbySectofl69oftheA.ltfebaancesheetandprontand ossaccountsha!frsl

be approved by ll)e D reclors and t/hen so approved sha I be s gned by tlre Llaniig ng D reclor
but f on account oi hrs absence ficrn Bang adesh or olhor reason the sigfature of the Nlanag ng
Drectorca|not be obtaned. ihe baance she-.t a..l profit and oss acccuntsha besignedbyat
e:st tv/o D rectors iorthetme beng n Bangladesh and n every such casea statement sgned
by those turo O rectors sha be sublc ned to the ba ance sheet afd profl and oss accollnt stating
ihe reason $/hy the signaiure of the [4anag nr.] D rector lvas not obia ned

13) The D ectors mey auihor ze the Chai n;rn or ihe Managing D rector to sLgn the

108 report .f thc Dreciors r,1,/h.h nray then be srgned accordingly. bLt in the absence oi any such
alrhofrty the r-rporl ol the as eqLrired bySeclon 184(4lcftheActinthe
D rectors sha I b€ s gned
sarne manner as Lhe ba anD,o srreel and proft and oss accoLrrt

I09 Alrd lcrs sha be app.r nted and the r dlt,.s regu ated I acco d;nce rr th Secl ons
210 to 2T 2 and 217 of t re Act

il0 FNANCAL YEAR Tne ffancia ye.r, rrr 1[rF r'on.rni-Fhr,!p{onLgsl January to 3]st
llece,nber of the ca endar yesr, vr'rr clr m r/ La cr iiqpd b, t& sfryt!1Ufrfn renera meettno

NoIcE -\Y4f
s .+,
ir{ .r-
Tll AnoLcenraybegvenbytheCompan/lrrnimembr ertherre-l:&fi.lyio!,Jrl sending t by post
o cLrrrer tc h m to his reg sterod add e55 or lf he hi' ro e{{f;,1e*€&lrFEs n'Bangladesh) to
2017135624

the ad.lress Ianyr,thnBangLr.loshsuppedbyhmLotheCompanyforthegvngolnolcesio

h nr or to a des gnaled-.ma aildress g ven by th€ Slarehoidels or Di ectors for not ce purpose.
\,!hers a notrce s sent try post or currier or des gnated ema address service oi the 0otlce sha
)e.l-.emed lo b-. elfected by prope] yaddressng p,epayrng and posLrnq a etter conta ning the
notce afa. L.rniss the crntrrry s pro!!'d. to hav€ been effeclcd 3t the iime at wh.h the etier
,ou d be delv':r!d Ln the ord fa ! corrse oJ post cI cl]rrer oT e n3

SECRECY

112 E,,.iry Drrecl!r the Secretary ['1ara!]er ALrd lor. TrLrsiee n'lenber of a Conrnr ttclr Offcer,
ser!ant agent acco!nLanl or orher Lrerson emplcyeC n the buslness oi the Company sha if so
equ red by the D rectors before enter 1g upcn his duUes srgn a CeclalatLon p edginli hmself to
obs€rve strcl secrecy.espect ng a transactonsortheConrpanywth 1s custonrers and the staTe
cf acco!rts,.!ith nil r'duais and n matters reeting thereto.!nd shal by such de.araton pedge
h nrse f nol tc releai any ofLhe rnatl-.rs lvhch may conr-a to his knowledge n d scharge of h s
aut es ex.ept ,,,iheN r-oqLr re.l to do so by the Board of D :ectors or by any meeL nll or by a Court of
La!.i and except as far as nray be necessary n or.ler to .omp y \r th any of the prov s ons n these

113 No rnember or olher De so-r inttbcrna a D fector) sha be -"nt i '"d to en(er the property of the
Company .r Lo inslect or exa n ne lhe Company s plem ses or propert es of the Cornpany w thout
th-D perm sslof ol lhe [']nnag ng Direclor or DlrecLors of lhe Compaly for the llme b'e ng or to
reqLri e al scovery of any matter wh ch ls or nay be in the natLrre of a traoc secret mystery of
trad. or secrel process or oi anv malter llhatsoever vr'h ch may reate to the conduct of the
bls ness of tre Con pany nfC whr.lr may in the o,-i n of of the D rectors it wi be n expe'l ent in
ihe nteresi of lhe mernbers of Lhs Company to comnrun cate
WINDING UP

114. nal respect, the windlng up shal begovernedbytheprovisionsoftheCompaniesActl994

INDEMNITY

115 Every Director or officer or auditor of the Company and every person employed by the Company
shail be indemnfied out ofthefunds of the Company against al lability incurred byhim in the
capacily as a Director or officer or auditor for whlch he s not personally responslble by h s act or
omission n defend ng any proceedings whether civ I or crim naL,