By Laws

 

Name of the Society

The name of the society shall be The Association of Technical Analysts.

 

Registered Office

The Registered Office of the Society shall remain in the National Capital Territory of Delhi and at present its address is 103, 

Chiranjiv Towers, 43,  Nehru Place, New Delhi - 110019. The area of operation of the society shall be the National Capital Territory of Delhi.

 

Aims & Objects

The aims and objects for which the society is established are as under:

Ø       To be and to act as the Association of the Technical Analysts.

Ø       To ascertain the problems and requirements in respect of Technical Analysis and assess the need for additional facilities and for the purpose of corresponding with different organizations in the field of Technical Analysis in India and abroad.

Ø       To prepare, print and publish in papers, periodicals, pamphlets, bulletins and brochures, information concerning Technical Analysis facilities existing in 

India  and abroad and other useful material in furtherance of the objects of the society.

Ø       To conduct research on different aspects of Technical Analysis theory and practice and to publish reviews specializing in the study of problems of Technical Analysis

Ø       To establish personal contacts between analysts both outside and inside 

India with a view to promote the theory and practice of Technical Analysis.

Ø       To help raise the level of community awareness and respect for the theory and practice of Technical Analysis.

Ø       To provide meetings and encourage the interchange of materials, ideas, and information to enhance the knowledge of members.

Ø       To establish, maintain and encourage the highest professional ethics and competence among Technical Analysts.

Ø       To attract and retain a membership professionals devoting their efforts to using and expanding the field of Technical Analysis and to encourage them to share their knowledge with fellow members.

Ø       To educate the public and the investment community of the value and universality of Technical Analysis.

Ø       To set and execute the standard certification and professional ethics for the Technical Analysts.

Ø       To organize seminars, training and educational facilities on Technical Analysis for members and public.

Ø       To establish and maintain a research and reference library in pursuance of the objects of the Society with reading and writing rooms and to furnish the same with books, reviews, magazines, newspapers and other publications.

Ø       To convene meetings at such places and such times as may be determined in furtherance of the objects of the Society;

Ø       To borrow and raise moneys with or without security or on the security of a mortgage, charge or hypothecation or pledge of all or any of the movable or immovable properties of the Society or in any other manner whatsoever;

Ø       To construct, purchase, take on lease or otherwise acquire any land or building which may be necessary for carrying out the purposes of the Society;

Ø       To sell, lease, exchange, hire and otherwise transfer all or any properties of the Society;

Ø       To undertake and accept the management of any endowment or trust fund having objects similar to the objects of the Society;

Ø       To invest funds or moneys entrusted to the Society in such securities and in such manner as may from time to time be determined by it; For the purpose of the Society to draw, accept, make, endorse and discount any promissory notes, bills of exchange, cheques or other negotiable instruments;

Ø       To make Rules and Regulations and Bye-laws for the conduct of the affairs of the Society and add to, amend, vary or rescind them from time to time, and

Ø       To do such other lawful things as are conducive or incidental to the attainment of the above subjects.

 

Income & Property of Society:-

The income and property of the Society, however, derived, shall be applied towards the promotion of the objects thereof as set forth in this Memorandum of Association. No portion of the income and property of the Society shall be paid or transferred, directly or indirectly, by way of dividends, bonus or otherwise, by way of profit to any person who at any time are or have been members of the Society or to any of them or to any persons claiming through them or any of them. Provided that nothing herein contained shall prevent the payment in good faith or

Ø       of reasonable and proper remuneration to any member, officer or servant of the society (not being a member of its General Body or Governing Body) for any services rendered to the Society;

Ø       of interest at a reasonable and proper rate on money lent or reasonable and proper rent for premises demised or let by any member of the Society or Governing Body;

Ø       to any member of its Governing Body for out-of pocket expenses;

If on the winding up or dissolution of the Society there shall remain 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 Society or any of them but shall be dealt with the manner provided by Sections 13 and 14 of Act XXI of 1860.

 

The Governing Body

The following members shall constitute the Governing Body to manage the affairs of the Society: The Governing Body of the Society shall be the Body constituted to be the Governing Body under the Rules of the said Society. The names, addresses and occupations of the first members of the Governing body are as follows:

Sl. No.	Name & Address	Occupation	Designation
1.	Mr. Sudarshan Sukhani	Technical Analyst	President
2.	Mr. Ashwani Gujral	Technical Analyst	Vice-President
3.	Mr. Santosh Kumar	Technical Analyst	Secretary
4.	Mr. Vivek Rattan	Investor	Joint Secretary
5.	Mr. Pradeep Kumar Aggarwal	Share Broker	Treasurer
6.	Mr. Jitinder Sigh Chadha	Technical Analyst	Executive Member
7.	Mr. Vinod Kumar Aggarwal	Technical Analyst	Executive Member

Rules And Regulations of The Association of Technical Analysts

 

DEFINITIONS

1. In these Rules:

“Society” means the The Association of Technical Analysts.

“Governing Body” means the body which under these rules is constituted to be the Governing Body of the Society.

“President” means the President of the Society.

“Year” means the year commencing on the 1st of April and ending on the 31st day of March next.

Name: The name of Association shall be “The Association of Technical Analysts”

 

Address:

The address and its registered office shall be: “The Association of Technical Analysts” 103, CHIRANJIV TOWERS, 43, 

NEHRU PLACE, NEW DELHI 110019,  INDIA

Common Seal:

 

The Association shall have a common seal and the same shall be kept in the safe custody of the Secretary. The Secretary shall sign every instrument, after approval by the Governing Body of the Association as per the laid down procedure, and thereafter affix the common seal.

Area of Operation:

 

The area of operation of the Association shall be Union of India towards enactment of the aims and objective of the Association and enhancing the interests of the members and general public.

 

AIMS AND OBJECTIVES:

The aims and objects for which the society is established are as under:

Ø       To be and to act as the Association of the Technical Analysts.

Ø       To ascertain the problems and requirements in respect of Technical Analysis and assess the need for additional facilities and for the purpose of corresponding with different organizations in the field of Technical Analysis in India and abroad.

Ø       To prepare, print and publish in papers, periodicals, pamphlets, bulletins and brochures, information concerning Technical Analysis facilities existing in 

India  and abroad and other useful material in furtherance of the objects of the society.

Ø       To conduct research on different aspects of Technical Analysis theory and practice and to publish reviews specializing in the study of problems of Technical Analysis

Ø       To establish personal contacts between analysts both outside and inside 

India with a view to promote the theory and practice of Technical Analysis.

Ø       To help raise the level of community awareness and respect for the theory and practice of Technical Analysis.

Ø       To provide meetings and encourage the interchange of materials, ideas, and information to enhance the knowledge of members.

Ø       To establish, maintain and encourage the highest professional ethics and competence among Technical Analysts.

Ø       To attract and retain a membership professionals devoting their efforts to using and expanding the field of Technical Analysis and to encourage them to share their knowledge with fellow members.

Ø       To educate the public and the investment community of the value and universality of Technical Analysis.

Ø       To set and execute the standard certification and professional ethics for the Technical Analysts.

Ø       To organize seminars, training and educational facilities on Technical Analysis for members and public.

Ø       To establish and maintain a research and reference library in pursuance of the objects of the Society with reading and writing rooms and to furnish the same with books, reviews, magazines, newspapers and other publications

Ø       To convene meetings at such places and such times as may be determined in furtherance of the objects of the Society;

Ø       To borrow and raise moneys with or without security or on the security of a mortgage, charge or hypothecation or pledge of all or any of the movable or immovable properties of the Society or in any other manner whatsoever;

Ø       To construct, purchase, take on lease or otherwise acquire any land or building which may be necessary for carrying out the purposes of the Society;

Ø       To sell, lease, exchange, hire and otherwise transfer all or any properties of the Society;

Ø       To undertake and accept the management of any endowment or trust fund having objects similar to the objects of the Society;

Ø       To invest funds or moneys entrusted to the Society in such securities and in such manner as may from time to time be determined by it; For the purpose of the Society to draw, accept, make, endorse and discount any promissory notes, bills of exchange, cheques or other negotiable instruments;

Ø       To make Rules and Regulations and Bye-laws for the conduct of the affairs of the Society and add to, amend, vary or rescind them from time to time, and

Ø       To do such other lawful things as are conducive or incidental to the attainment of the above subjects.

 

MEMBERSHIP:

There shall be the following classes of Members:

Ø       Foundation Members,

Ø       Associate Members,

Ø       Individual Members, and

Ø       Honorary Members.

 

Foundation Members:-

The members referred to in the Memorandum of Association as desirous persons shall be the foundation members of the society. The Governing Body shall decide the annual subscription payable by Foundation Members.

 

Associate Members:-

Any company, firm interested in the aims and objects of the Society which has applied for and been admitted by the Governing Body shall be the Associate Member of the Society.

The annual subscription payable by an Associate member shall be decided from time to time by the Governing Body. Each Associate Member shall pay the annual subscription so decided by the Governing Body. New Members shall also pay one time admission fee.

 

Individual Members:-

The individuals experienced and/or interested in the theory and practice of Technical Analysis and who have applied for and have been admitted shall be Individual Member of the Society.

The annual subscription payable by an Individual member shall be decided from time to time by the Governing Body. Each Individual Member shall pay the annual subscription so decided by the Governing Body. New Members shall also pay one time admission fee.

 

Honorary Members:-

Honorary members shall be those individuals who are distinguished in the field of Technical Analysis or who are interested in the aims and objects of the Society and are co-opted as Honorary Members of the Society by the Governing Body.

Honorary Members shall be exempt from payment of subscription.

Application for admission shall be made to the Secretary on the prescribed form along with admission fee and every application for membership shall be disposed of by the Governing Body which shall have power to grant or refuse or cancel the membership/admission. The Governing Body shall also have power to revoke/suspend the membership, after due consideration and may keep the membership suspended for some specific period as decided by the Governing Body.

MEMBERSHIP SUBSCRIPTION :

The Association may from time to time fix admission fee or one time lump-sum subscription or monthly/quarterly/Yearly subscription to be paid by every member.

Every member shall pay such fees as determined by stipulated date and if a member fails to pay the subscription within the specified period, he/she will be considered as defaulter by the Society after serving reasonable notice.

The defaulter member shall have no right in the Association activities as member and/or office bearer including his voting rights as a member.

The Governing Body may on an application made by a member consideration to reduce the backlog of fees, refix the subscription of arrears in full or part thereof if it is so satisfied with the reasons given by the applicant.

Every member shall subscribe on a monthly/quarterly/annual basis and payment of such subscription shall not be refundable in any case.

 

REFUSAL AND CANCELLATION OF MEMBERSHIP:

Ø      The refusal or cancellation of membership will be based on any known unlawful/criminal/communal activity or refusal to abide by the association’s bye-laws/rules.

Ø      The decision of the Governing Body together with the grounds of such refusal or cancellation shall be communicated to the member applicant and reasonable opportunity shall be provided to the applicant/member to reply on each article of the issue on which refusal or cancellation is contemplated.

 

WITHDRAWAL, RESIGNATION AND EXPULSION FROM MEMBERSHIP

Ø       No member shall be permitted to withdraw or to resign its membership within 1 year from the date of which he was admitted as a members and acceptance of resignation shall take effect on acceptance by the Governing Body.

Ø       A member of the Association shall cease to be a member if expelled by the association or convicted by a court of law.

Ø       If a member intentionally attempts any act prejudicial to the interest of the association, it shall be open to the Governing Body or General Body of the Association to expel such member. However, such member shall be given reasonable opportunity of being heard before final decision is taken in the matter.

 

RE-ADMISSION OF MEMBER:

Member having resigned, expelled or whose membership has been cancelled may apply afresh for readmission as member of the association, subject to fulfillment of conditions laid down with requisite fees.

A member of the Association shall automatically cease to be a member in case of his conviction by a court of law or his death.

 

AUTHORITIES OF THE SOCIETY

The following shall be the authorities of the Society

Ø       The General Body

Ø       The Governing Body

Ø       Such other authorities as may be constituted by the Society or the Governing Body

 

Foundational Members

All the desirous persons of the society are the founder members of this society.

 

Part of the Society

Governing Body shall have right to appoint any distinguished/eminent person(s) as patron(s) of the society.

 

General Body (GB)

Every bona fide member of the Association is entitled to participate in General Body Meeting. The decision taken by the General Body shall be final and shall be binding on all the members

 

ROLE OF THE GENERAL BODY

The General Body will transact business of review of work passing of account, election of office bearers of the Governing Body and any other point(s) of common interests.

 

GENERAL BODY MEETING

Ø       The General Body Meeting will be held twice a year in the month of December & July to transact business of review or work, passing of Account.

Ø       In the event of any urgency in the intervening periods should there be a need then in such a situation an extraordinary meeting of the General Body can be summoned on the written request of 1/3^rd of the total members of the Association or at the instance of the Governing Body.

Ø       The agenda for General Body Meeting will be finalized in advance and requisition for the meeting will be circulated to the members minimum 15 days in advance together with agenda.

 

QUORUM OF GENERAL BODY MEETING (GBM)

Ø       The quorum of the GBM to transact any business except passing of resolution of obituary will be 1/3 (33%) thirty three percent of the entitled and bonafide membership.

Ø       In case of lack of quorum, as moved by the Secretary, President of the Presiding Officer will adjourn the meeting for Half an Hour and the meeting will be re-convened accordingly.

Ø       In the eventuality of lack of quorum, the meeting will be postponed for subsequent date and records to this effect to be kept under the signatures of the President & Secretary.

 

POWER/DECISIONS OF GENERAL BODY :

Ø       All the decisions of the GB will be by majority and shall be either by voice vote or by raising of hands.

Ø       In case the Association President/Vice-President so desire the voting can be through Ballot or instant slips also.

Ø       The procedure of election shall be framed by the Governing Body with the approval of General Body.

Ø       General Body is also empowered to review/reconsider the earlier GBM decisions depending upon fresh/changed circumstances.

Ø       General Body is also empowered to amend or repeal of any existing bye laws or enactment of any new bye laws through a specific agenda provided that all such amendments are passed by a majority of the GB by 2/3 of majority of the total membership.

Ø       Any member against whom dues of the “The Society” are outstanding for more than 6 months shall not have voting rights till he has paid the dues.

 

EXTRA ORDINARY OR SPECIAL GENERAL BODY

Ø       The demand in writing for convening of extra ordinary/special/emergency meeting will be received by the President from the bonafide members by not less than 1/3^rd of the registered members to discuss any emergent issue for consideration by the Governing body along with the agenda.

Ø       An extraordinary or a Special General Body meeting shall be called within one month of written requisition, which will state the object of the extra ordinary/special/emergency meeting. It may be requisitioned by secretary in consultation with the Association president.

 

QUORUM FOR EXTRA ORDINARY OR SPECIAL GENERAL BODY

The quorum for the meeting of General Body shall be 1/3(33%) thirty three percent of strength of bonafide members and if there is no quorum for a meeting it shall be adjourned to such date and time as may be decided by the Chairman of the meeting and further business of the meeting shall not be processed with without the quorum.

 

GOVERNING BODY

Ø       There shall be a Governing Body. The members of said body shall be elected by the GENERAL     BODY from amongst the bona fide members of the Association in a meeting as per the     procedure stated in earlier sections.

Ø       The Governing Body shall consist of 9 members for a period of one year. An elected Governing Body member shall be deemed to have vacated his office if he ceases to be a bona fide member, or is expelled by General Body or if he fails to attend 3 consecutive meeting without proper/justifiable reasons.

MEETING OF GOVERNING BODY

Ø       The date, time and venue of the GOVERNING BODY meeting shall be fixed by Secretary in consultation with the President. The other office bearers/members shall be informed three days in advance, other than emergency where meeting can be called at any time without giving any notice.

Ø       The Governing Body meeting shall be convened at least once in two months and the required quorum for the meeting shall ½ of total strength of the body.

 

CONSTITUTION OF GOVERNING BODY

The Governing body shall consist of following and shall be elected by the General Body:

1. President 1

2. Vice President 1

3. Secretary 1

4. Joint Secretary 1

5. Treasurer 1

6. Executive members 3

7. HONORARY/CO-OPTED/VISITING MEMBER – 1

 

Election of the Governing Body:

The election of all the members of the Governing Body will be held during the day time, to be notified to all members well in advance in the Manner described herein after.

Ø       The Governing Body will appoint a Returning Officer for the conduct of free and fair election in accordance with the provisions of the constitution of the Association, under his supervision. Consequent to his appointment, the returning officer will issue a notification for election of the association, one month prior to the date of the proposed election. It should be ensured that the elections are held on the notified date, on which day the Annual General Body Meeting should also be held. Only those members are permitted to Caste their votes, who have paid their annual membership at least One month before the date of election (or the General Body Meeting).

Ø       Thereafter, the Returning Officer will ask the Governing Body office to give him the list of all members, eligible for voting, at least one month before the date of proposed election. On receipt of the list of all eligible members, the returning officer will circulate Nomination forms to all members of the Society, and set 7 days time for receipt of nomination papers by registered post/courier. The Returning officer will submit the list of valid nominations of the Governing Body Office will circulate a copy of the valid Nomination papers to all the members of the Association at least 7 Days prior to the date of election. Any valid member of the Association, who is not a defaulter of the association’s financial dues is eligible to file his /her nomination for the election. A defaulter will not be eligible to contest the election of the Association. Any eligible person intending to contest election for any post is required to submit his/her nomination on the nomination form duly proposed by valid member of the association and seconded by another valid member of the Association.

Ø       Every nomination paper shall be accompanied by the nomination fee as mentioned in the Notification and any nomination paper without the nomination fee shall be rejected out rightly without any further information or intimation to the person contesting the election.

Ø       The election will be held by a secret ballot. A person is permitted to caste only one vote for the post.

Ø       The counting of votes will be done under direct Supervision of the returning Officer and in presence of at least two Independent observers.

Ø       The results of the election will be announced on the same day, in the presence of all the contesting parties by the returning officer.

 

THE BROAD RESPONSIBILITIES OF Governing Body shall be

Ø       Conduct scheduled meetings and activities for the overall development and interest of the Association.

Ø       Take up various jobs and their coordination with the respective activity/committee members as per necessity from time to time.

Ø       Look after the project work as and when required.

Ø       Co-opt members to sub committees on need basis from time to time.

Ø       Be responsible for the follow up of dues collection from the members of the Association.

Ø       Receive suggestions and complaints and consider those for appropriate decision/action.

Ø       Take follow up actions with different authorities for the development of Members.

Ø       Ensure timely election of next Governing Body will before the expiry of their term.

Ø       Maintain the bank account of the Association.

Ø       Ensure the yearly audit of the Association accounts and expenditures.

 

ROLES/RESPONSIBILITIES OF THE OFFICE BEAREERS OF GOVERNING BODY

 

President

He shall preside over the General Body and Governing Body meetings and sign the proceedings. He will be one of the signatory of Bank A/c together with Treasurer or Secretary. He will coordinate and ensure the smooth and efficient functioning of Governing Body. The tenure for the founder president shall be two years.

 

Vice President

In the absence of the Association president, the vice president will preside over the meetings and sign the proceedings. He shall directly oversee the areas of security and accounts in consultation with President. In the absence of the President due to any reason whatsoever he shall also operate the Bank Accounts and will be one of the signatory with the Association treasurer or Secretary.

 

Secretary/ General Secretary

The duties and responsibilities of the Secretary shall be to exercise general control over administration, day to day monitoring, to convene meeting in consultation with the Association president, supervision and management, follow up development related matters, verification of all vouchers for payments, to maintain records, documents, deeds, instruments etc. He will be one of the signatory of Bank A/c together with Association President and the Treasurer. He will enter into correspondence with various authorities, issuance of notice, circular recording of minutes of various meetings, safe keeping of resolutions of meetings and other records of the Association. He should ensure that all expenditure is properly approved by the Governing Body. In rare cases only, post-facto approval shall be obtained.

 

Joint Secretary

To perform all the functions of the Secretary during his absence and also undertake tasks assigned/allotted by the Association Governing Body/President.

 

Treasurer

The treasurer shall maintain Bank A/c petting cash A/c all accounts of the association, act as joint signatory of Bank A/C, receive all cash, sign all deposit receipts, release of payment duly verified by competent authority, prepare statement of accounts, audit of accounts, safe custody of cheque books/pass books and deposit receipts, Bank accounts shall be operate together by himself and any one signatory amongst Association Secretary or the President in all cases. During his absence, the Vice President will operate the Bank accounts.

 

Executive Members

They constitute an important part of the governing body. All the executives are supposed to attend all governing body meeting and also general body meetings.

The President and the Governing Body while discharging their day to day working may assign part or whole of the works to any of these elected members. The majority decision shall be treated as Governing Body decision and shall be binding on all.

 

DELEGATION OF POWERS

The Society or the Governing Body may by resolution delegate to the President, the Executive Director/Secretary or such other officer as may be appointed and any other officer of the Society, such of its powers for the conduct of the affairs of the Society as may be considered necessary.

 

ENDOWMENTS AND GIFTS

The Society and the Governing Body shall have powers to enter into arrangements with the public or private organizations, individuals or the Governments for securing and accepting endowments, grant-in-aid, donations or gifts to the Society on mutually agreed terms and conditions provided that the conditions to such grant-in-aid or donation of gift, if any, shall not be inconsistent or in conflict with the nature or objects of the Society. The Society and the Governing Body shall have the powers to take over and acquire by purchase, gift or otherwise from Government and other public or private individuals or organizations willing to transfer the same’ immovable properties, endowments or funds, together with any attendant obligations and engagements not inconsistent with the objects of the Society.

 

FUNDS OF THE SOCIETY AND ACCOUNTS

The funds of the Society shall consist of the following:

Ø       Fees and subscriptions collected by the Society.

Ø       Donations, grants, contributions and income from other sources.

Ø       Income from Investments.

The Governing Body shall have power to authorise any officer or officers to operate upon the accounts of the Society.

The Governing Body shall maintain proper accounts and other relevant records and prepare an annual statement of accounts including the balance sheet in such form as may be prescribed by the Society.

 

ACCOUNTS

The funds of the association will be deposited and operated through an account in a Bank. The Bank account(s) shall be opened in any Nationalized Bank, scheduled Bank/Commercial Bank or co-operative bank. Any change of the bank shall be with the permission of the President and the Treasurer.

 

AUDIT OF ACCOUNTS

The yearly accounts of the ASSOCIATION will be audited by an independent bonafide member   appointed by the Governing Body who shall audit the accounts and receipt/expenditure.

 

VALIDITY OF ACTION

No act of the General Body, the Governing Body shall be deemed invalid by reasons of any defect in the election of the members thereof or by reason of any vacancy therein no having been filled in accordance with these bye-laws.

 

BYE-LAWS

General Body is empowered to make, amend or repeal any existing bye-laws or enactment of any new bye-laws provided that such amendment or enactment is passed by 2/3 majority of the total bonafide members present and voting.

 

RECORDS OF THE ASSOCIATION

1. Membership register

2. Minute of meetings register

3. Cash and bank book

4. Stock register

5. Assist register

 

SUPERMACY OF RULES AND REGULATIONS

In event of a conflict between Rules and Regulations of the Association and decisions of General   Body the Rules and Regulations of the Association shall prevail.

 

CONTRACTS

All contracts shall be executed on behalf of the Society by the President/ Secretary or such other officer as may be appointed.

 

GENERAL

No act or proceeding of the Society or the Governing Body shall be deemed to be invalid by   reason merely of any deficiency in or any defect in the constitution of the Society or the   Governing Body as the case may be. The Society may sue or be sued in the name of the   President/Secretary or such other officer as may be appointed.

 

SERVICES OF NOTICES

A notice may be served upon any member of the Society either personally or through post in    communication addressed to such members at the address mentioned in the roll of members.

Any notice so sent by post shall be deemed to have been delivered within such time as is ordinarily taken by the post office, and in proving such delivery it shall be sufficient to prove that the cover containing such notice was properly addressed and stamped and put into the Post Office.

 

ALTERATION OF THE RULES & ALTERATION OR EXTENSION OF THE OBJECTS OF THE SOCIETY

Ø       The objects for which the Society has been established may be altered or extended as provided in the Societies Registration Act, 1860.

Ø       The Rules of the Society may be altered at any time by a Resolution passed by not less than two thirds of the total number of members entitled to vote present and voting at a meeting of the Society which shall have been convened for the purpose.

 

ANNUAL LIST OF GOVERNING BODY

Once in every year a list of the office bearers and the executive members (of the Governing Body) shall be filed in the office of the Registrar of Societies, 

Delhi, as required under Section 4 of the Societies Registration Act, 1860.

 

DISSOLUTION

If the society needs to be dissolved, it shall be dissolved as per the provisions laid down in Sections 13 and 14 of the Societies Registration Act, 1860, as applicable to National Capital Territory of Delhi.

 

LEGAL AND JUDICIAL (SETTLEMENT OF DISPUTE)

Ø       All disputes concerning questions of act arising under any contract shall be decided by the Governing Body upon a written appeal by the person concerned to the President ASSOCIATION whose decision shall be final and agreeable to the parties hereto.

Ø       Any dispute or different including those considered as such by only one of the parties arising out of any matter shall be to the extent possible settled amicably between the parties.

Ø       If amicable settlement can not reached, then all disputed issues shall be settled by arbitration.

 

ARBITRATION

In the event of any dispute or different whatsoever arising under any contract or any matter including any question relating to the meaning and interpretation or any alleged breach thereof the same shall be referred to the sole arbitration of the President or to a person appointed by him for that purpose. The arbitration shall be conducted in accordance with the provisions of the Indian Arbitration Act, 1996.

 

JURISDICTION

All matters shall be governed by the Indian Laws for the time being in force and only the Courts at

Delhishall have exclusive jurisdiction in all matters.

 

AMENDMENT

Any amendment in the Memorandum, Rules and Regulations shall be carried out in accordance with Sections 12 and 12-A of the Societies Registration Act, 1860, as    applicable to National Capital Territory of Delhi.

 

APPLICATION OF THE ACT

All the provisions under all the Sections of the Societies Registration Act, 1860, as applicable to National Capital Territory of Delhi shall be applicable to this Society.