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The Bombay Fountain Pen
Memorandum
  • The name of the Association is the ‘THE BOMBAY FOUNTAIN PEN MANUFACTURERS & TRADERS ASSOCIATION.’
  • The registered office of the Association will be situated in Mumbai.
  • The objects for which the Association is established are :-
    1. To create and foster a feeling of friendship and fraternity between the various sections of the fountain pen / writing instrument trade, to promote a spirit of friendliness between competitors, and also to establish and develop healthy relations between the manufacturers and dealers both wholesale and retails.
    2. To promote and protect the interests of the members carrying our business in fountain pen/writing instruments and other articles of a similar character.
    3. To promote the exchange of knowledge, experience and ideas of sound business principles and practice.
    4. To stimulate thought and effort towards the promotion of the Fountain Pen / Writing Instruments business in the Mumbai area through lectures, conferences seminars, groups, exhibitions, visits, tours and excursion.
    5. Clause (5) Deleted”
      (Vide Resolution adopted in the Special General Meeting of the Members of The Association, held on Sunday, the 11th November, 1984)
    6. To devise means to avoid unfair and unremunerative trade practices and to diffuse information on scientific business principles.
    7. To obtain all possible information in India and abroad regarding production, distribution and sale of fountain pens/writing instruments and to circulate such information to all members for their guidance.
    8. To procure information for members about the standing and responsibility of parties with whom they propose to transact the business.
    9. To arbitrate in dispute among members when requested.
    10. To recover outstandings from members and non-members and to give legal and other help if sought for.
    11. To assist members of the Association against persons who indigent in unworthy business practices, to assist in the prompt and economic realization of the estate of insolvent and persons making of seeking of make arrangements for composition with creditors and to help and manage trust property or business of the members if so entrusted.
    12. To provide for its members a place of meeting.
    13. To impress upon the trade the necessity of maintaining an up-to date knowledge of business trends, by periodical surveys, and by keeping correct sets of business books.
    14. To provide expert advice and service on request to firm on specialized problems.
    15. To establish a library of books, periodicals and papers and to arrange for circulation and publication of latest developments in the trade and in business practice.
    16. To consider, promote or oppose any legislative or other measurers affecting the trade.
    17. While creating and maintaining harmonious relations with the state Government, Municipal and other authorities and bodies, to watch carefully the local administration of all laws and regulations affecting the writing instruments trade.
    18. To enter into any arrangement with the government or other authority which may appear conducive to the interest of the Association.
    19. To purchase, hire or acquire for the purposes of the Association any property, lands, buildings, furniture, machinery, equipment, fittings, apparatus, appliances and other appurtenances.
    20. To borrow any moneys which may be necessary for the purpose of the Association.
    21. To disburse moneys for the furtherance of the objects of the Association and also to invest moneys in such securities as may from time to time be decided upon.
    22. To maintain liaison with all organizations interested partly or wholly in the aims and abjects of the Association and also with trade associations, chambers of commerce and other associations in India and abroad.
    23. To subscribe to or to become a member of or co-operate or amalgamate or federate with any other association incorporate or otherwise whose objects may be altogether or in part similar to those of this Association and to procure from and communicate to any such Association such information as may be likely to further the objects of this Association.
    24. To do all such other things as may be necessary for or incidental to or conducive to the attainment of the above objects or any of them.
  • The income and property of the Association whensoever derived shall be applied solely towards the promotion of the objects of the Association as set forth in the Memorandum of Association and no portion thereof shall be paid or transferred directly or indirectly by way of dividend, bonus or otherwise, howsoever by way of profit to the members of the Association to the persons who areat any time or have been members of the Association or to any persons claming through any of them. Provided that nothing herein contained shall prevent the payment in good faith of remuneration to any officer or servant of the Association or to any member of the Association or other person in return for any service actually rendered to the Association or to any member thereof or the payment of interest on money borrowed from any member of the Association. However that no person of the Managing Committee of the Association shall be appointed to any salaried office to the Association and that no remuneration or other benefit shall be given by the Association to any member of the Managing Committee except payment of out of pocket expenses and interest on money lent or reasonable or proper rent for premises demised or let to the Association. The liability of the members is limited by if any member of the Association pay or receives any dividend, bonus or other profits in contravention of the fourth paragraphs of this Memorandum he shall refund the same to the Association.
  • Every Member of the Association undertakes to contribute to the assets of the Association in the event of its being wound up during the time that he is a member, or within one year afterwards for payment of the debts and liabilities of the Association, contracted before the time at which he ceases to be a member, and for all the costs charges and expenses of winding up the same, and for the adjustment of the rights of the contributories among themselves, such amount as may be required, not exceeding Rs.1/-.
  • If upon winding up or dissolution of the Association there remains after the satisfaction of all its debts and liabilities, any property whatever the same shall not be paid to or distributed among the members of the Association, but shall be given or transferred to some charitable institutions to be determined by votes of not less than three fifths of the default thereof, by the principal court of original civil jurisdiction of Bombay.

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