1. POLICE HOUSING CORPORATION LIMITED”.

2. THE REGISTERED OFFICE OF THE COMPANY WILL BE SITUATED IN THE STATE OF KARNATAKA.

3. THE OBJECTS FOR WHICH THE COMPANY IS ESTABLISHED ARE:-

   1. The Main objects to be pursued by the company on its incorporation are: -

      1. To undertake construction of buildings for housing the employees of the Government of Karnataka in the Police, Prisons, Home Guards and Fire Force Department.

      2. To undertake construction of buildings for the offices of the departments of Police, Prisons, Home Guards such as the administrative offices, Police Stations, Jails, Fire Stations, Training Institutions, District Scientific Laboratories, Forensic Science Laboratories, Dormitaries, etc.,

      3. To construct schools, Hospitals, Health Centres, Shops, Clubs, Auditoriums, Maternity Homes, Kalyana Mantaps etc., that will be built out of the Police Benevolent fund and also to undertake construction of any type of buildings entrusted to it by the Government from time to time.

   2. The objects incidental or ancillary to the attainment of the main objects: -

      4. To raise funds necessary for the above and other allied objects, by securing loan from Government and other sources, including financial institutions and banks on reasonable rates of interest, to arrange for their utilisation and proper repayment, to obtain the grants available from the Central or/ and State Government to achieve the aforesaid objects.

      5. To borrow or raise money from the issue of or upon bonds, debentures, bills of exchange, promissory notes or other obligations or securities of the company, or by mortgage, hypothecation pledge or charge of all or any part of the property of the company or of its uncalled capital or in such other manner as the company shall think fit.

      6. To enter into contracts with persons, institutions or organisations to carry out the objects of the company.

      7. To procure and arrange for the necessary machinery, material, equipment, technical and managerial assistance, information, instruction, supervision and other facilities for the purpose of carrying into effect any of the objects of the company.

      8. To sell, improve, manage, develop, exchange, transfer, lease, mortgage, enfranchise, dispose of, turn to account, maintain or otherwise deal with all or any part of the property and rights of the company.

      9. To acquire by purchase, exchange lease, transfer or otherwise howsoever, the land for buildings necessary for carrying out any of the objects of the company.

      10. To acquire by purchase, by direct negotiation, exchange or otherwise, any property necessary for or affected by execution of the Housing and Building or Development schemes of the company.

      11. Generally to purchase, take on lease, transfer or in exchange, hire or otherwise acquire any real or personnel property and any rights or privileges, which the company may think necessary or convenient for the purpose of its activities and in particular any land and buildings, easement machinery plant and stock in trade.

      12. To enter into any arrangement with the Government of Karnataka, the Government of India, Government of any other State or Corporate Body or Local Authority, or any persons for carrying out the objects of the company or furthering its interests and to obtain from such Government, local authority, Corporate Body or persons, any charts, subsidies, loans, indemnities, grants, contracts, licences, rights, concessions, privileges or immunities which the company may think it desirable to obtain and exercise and comply with any such arrangements, rights, privileges and concessions.

      13. To make, draw, accept, endorse, discount, execute, issue and negotiate cheques bills of exchange, promissory notes, debentures and other negotiable or transferable instruments (but not to the business of banking as defined in the Banking Companies Act 1949 – Central Act 10 of 1949).

      14. To invest any moneys of the company not for the time being required for any of the purpose of the company in such investments (other than shares or stocks in the company) as may be considered proper and to hold or otherwise deal with such investments.

      15. To receive money on deposit and to utilise the same for the objects for the company. The acceptance of deposit shall be subjected to the provision of section 58 A of the companies Act 1956 and the rules framed there under.

      16. To enter into partnership or into any arrangements for sharing profits, union of interest, co –operation, joint venture, reciprocal concession or otherwise, with any person or company or companies carrying on or engaged in or about to carry on, or engage in any business or transaction which this company is authorised to carry on, engage in or any business or transaction capable of being conducted so as directly or indirectly benefit this company.

      17. From time to time, to establish or to subscribe or contribute guarantee money or to give donation to any charitable, benevolent, religious, scientific or national trusts, funds, Associations and Institutions and to any other useful objects, purpose, fund, institutions of a public character which in the opinion of the Board of Directors is likely to promote the interests of the business of the company or to further its objects or to increase its repute or popularity among its employees, its customers, or the public or otherwise and /or to any charitable or useful funds whatsoever or for any exhibition.

      18. To provide drainage facilities, lighting, laying of roads, paths and parks etc., in the construction and for housing schemes formulated, propounded, executed or adopted by the company.

      19. To lay or relay-out of any land comprised in the schemes, to distribute or redistribute sites or houses, to close or demolish obstructive buildings or portions of buildings, unfit for human habitation, to demolish obstructive buildings or portions of buildings, the construction and reconstruction of buildings their maintenance and preservation, the construction and alteration of streets and back lanes, the provision of drainage, water supply and lighting of the area included in the schemes; the provision of park, play- grounds and open spaces for the benefit of any area comprised in the schemes or any adjoining area and the enlargement of existing parks, approaches;

      20. The collection of such information, data and statistics as may be necessary for carrying out its objects;

      21. To refer all questions, disputes or differences (whether present or future) arising between the company and any other person whosoever in connection with or in respect of any matter either relating to the business or affairs of the company or other wise to arbitration, either in India or abroad in such manner and upon such terms and conditions as the company and such other person may mutually agree upon and such reference to arbitration may be made in accordance with the provisions of any law in India relating to arbitration or in accordance with any other foreign system of law or in accordance with the rules of any Chamber of Commerce (either Indian or foreign international);

      22. Subject to provisions of the Companies Act 1956 or any other enactment in force, to indemnify and keep indemnified members, officers, directors, agents, employees and servants of the company against proceedings, costs, damages, claims and demands in respect of any thing done or ordered to be done by them for and in the interest of the company and for any loss, damage or misfortune whatever which shall happen in the execution of the duties of their office or in relation thereto.

      23. And generally to do all other acts, matters and things as may appear to be incidental or conducive to the attainment of the above objects or any of them or consequential upon the exercise of its powers or discharge of its duties, and for the general efficiency of its schemes.

   3. The other objects not included in (A) and (B) above – Nil
4. THE LIABILITY OF THE COMPANY IS LIMITED.

5. The authorised share capital of the company is Rs. 10,00,00,000/- (Rupees Ten Crores) divided into 10,00,000 (Ten Lakhs) equity shares of Rs. 100/- ( Rupees One Hundred ) each, with rights, privileges and conditions attaching thereto as may be provided by the Articles of Association of the company, with power to increase or reduce the capital and to divide the shares into several classes and attaching thereto such preferential and other rights, as may be determined by or in accordance with the Articles of Association of the company.

6. We, the several persons, whose names and addresses are here unto subscribed, are desirous of being formed into a company in pursuance of this memorandum of Association and we respectively agree to take the number of shares in the Capital of the Company set against our respective names:-

Place : Bangalore
Dated: 17.06.1985