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Read: Full copy of Sreesanth's sports company memorandum


Cricketnext Staff,Cricketnext
May 22, 2013 at 05:27pm IST

New Delhi: In what looks a clear conflict of interest, Sreesanth's alleged links to illegal activities has turned another corner with a legal document revealing the jailed Indian fast bowler had set up a company in September 2010 with interests in setting up a betting house, among other objectives.

Article 1 of the memorandum, a copy of which is with Cricketnext, under section III (A) pertaining to the main objects to be pursued by the company on its incorporation, clearly states:

"To run in India and/or abroad coaching centrism gymnasiums, health clubs, fitness centres, betting houses, indoor stadium sports physiotherapy, centers, sports bars, aerobic clubs, fitness centres, yoga centres, slimming centres, nutritions clinics and sports and games clubs in general by taking individual/corporate membership with defined rights of access or otherwise and either directly through franchisee arrangement or in partnership with others."

Read: Full copy of Sreesanth's sports company memorandum

Article 1 under the main objectives of S36 Sports and Entertainment Pvt Ltd lists "betting houses", bringing the India fast bowler's alleged role in illegal activities further under the scanner.

Here is a copy of the memorandum:

The memorandum of association of the company floated by Sreesanth

(THE COMPANIES ACT, 1956) (PRIVATE COMPANY UNITED BY SHARES)

MEMORANDUM OF ASSOCIATION OF S36 SPORTS & ENTERTAINMENT PRIVATE LIMITED

I. The name of the Company is S36 SPORTS & ENTERTAINMENT PRIVATE LIMITED.

II. The registered office of the Company will be situated in the State of KARNATAKA.

III{A)THE MAIN OBJECTS TO BE PURSUED BY THE COMPANY ON ITS INCORPORATION ARE

1. To run in India and/or abroad coaching centres, gymnasiums, health clubs, fitness centres, betting houses, indoor stadiums, sports physiotherapy, centers, sports bars, aerobic clubs, fitness centres, yoga centres, slimming centers, nutrition clinics and sports and games clubs in general by taking individual/ corporate membership either with defined rights of access or otherwise and either directly or through franchisee arrangement or in partnership with others

2. To form, acquire, run, operate teams in various sports and games and to take part in domestic, national, and international events

3. To promote and market all types of branded and unbranded gears, equlpments and accessories of all sports and games.

4. To carry on in India or elsewhere the business of organizing and managing all kinds of events, shows, charity functions, parties, celebrations and such other programmes and festivities for image building, marketing and entertainment.

(8) THE OBJECTS INCIDENTAL OR ANCILLARY TO THE ATTAINMENT OF THE MAIN OBJECTS OF THE COMPANY ARE: -

1. To acquire, purchase, take over and/or amalgamate business of companies having similar objects which under existing Circumstances, from time to time may conveniently or advantageously be combined with the business of the Company; to amalgamate with companies whose business are so acquired, purchased or taken over and/or to enter into agreements with the objects or acquisition of such undertakings and/or business.

2. To negotiate loans, to draw, accept, endorse, discount, buy, sell and deal in bills of exchange, promissory notes, bonds, debentures coupons, other negotiable instruments and securities but shall not carry on the business of banking as defined in the Banking Regulation Act, 1949.

3. To give any guarantee or indemnity for the payment of money or the performance of any obligation or undertaking.

4. To borrow or raise money and secure and discharge any debt or obligation binding on the Company In such manner as may be thought fit, and in particular by mortgages of the undertaking and all or any of the undertaking and all or any of the Immovable/movable property (present or future) and the uncalled capital of the Company, or by the creation and Issue, on such terms as may be thought expedient of debentures or debenture stock, perpetual or otherwise, or other securities of any description subject to directives of Reserve Bank of India subject to the provisions of the Companies Act, 1956 or any other law in force and Reserve Bank of India guidelines issued from time to time.

5. To purchase, take on lease or In exchange, hire and otherwise howsoever acquire any Immovable or movable property, patents, licenses, rights and privileges which the Company may think necessary or convenient for the purpose of its business and In particular any land, tenements, buildings and easements and to pay for same either in cash or In shares or securities and to sell, let, lease or under lease or otherwise dispose of or grant right over any Immovable property belonging to the Company.

6. To purchase or otherwise acquire, erect, maintain or reconstruct any buildings, offices and other things found necessary or convenient for the purposes of the Company.

7. To open current or other accounts with any banks or merchants, to pay money into and draw money from such accounts.

8. To amalgamate, enter into partnership or make any arrangement for sharing profits, union of interests, co-operation, joint venture or reciprocal concession, or for limiting competition, with any individual, person, firm or Company carrying on or engaged in or about to carry on or engage in or which can be carried on in conjunction therewith.

9. To enter into any arrangements with any governments or authorities that may seem condudve to the attainment of the Company's objects or any of them, and to obtain from any such government or authority, any rights, privileges, licenses and concessions, which the Company may consider necessary or desirable to obtain and to carry out, exercise, use or comply with any such arrangements, rights, privileges or concession.

10. To form, promote, subsidise, organize and assist or aid in forming, promoting, subsidizing, organizing or aiding companies having similar objects or partnerships of all kinds for the purpose of acquiring and undertaking any property and liabilities of this Company, or for advancing directly or indirectly the objects thereof or for any other purposes which the Company may think expedient.

11. To take part in the formation, supervision, or control of the business or operations of any Company having similar objects or undertaking and for that purpose to act as issue house, registrars and share transfer agents, financial advisors or technical consultants or in any other capacity and to appoint and remunerate any Directors, Administrators, Accountants or other experts or agents in connection with the business of the Company.

12. To invest and deal with the moneys and any assets of the Company not immediately required, in such manner as may from time to time be determined by the Board of Directors Including investments in shares, stock and security Issued or guaranteed by any other company or Government or such other authority.

13. To obtain registration, incorporation or recognition of the Company under the laws or regulations of any other country and to do a" acts necessary for carrying on any business or activity of the Company in any foreign country.

14. To pay all costs and expenses incurred or sustained in or about the promotion, incorporation and establishment of the Company or which the Company shall consider to be preliminary out of the funds of the Company.

15.To refer to or agree to refer any claim, demand, dispute or any other question by or against the Company or in which the Company is interested or concerned and whether between members or their representatives, or between the Company and third parties, to arbitration, to observe and perform and to do all acts, matters and things to carry out or enforce the awards.

16. To sell, dispose of, or transfer the business, property and undertaking of the Company or any part thereof, for any consideration which the Company may deem fit to accept.

17.To acquire by purchase, lease, assignment or otherwise lands, tenements, buildings, easements, rights and advantages of any kind whatsoever and the same to resell, mortgage, let, lease or otherwise deal with.

18. To purchase or acquire the goodwill or any interest in the business of a similar nature, kind or character to or with those of this Company and to amalgamate in whole or in part or effect any other arrangements with other companies, partnerships or persons.

19. To acquire, manage and maintain or undertake the whole or any part of the business, property and liabilities of any person, firm or Company having Similar objects.

20. To undertake, transact and execute all and every kind of agency business for the purpose of the business of the Company.

21. To enter into partnerships or Into any arrangement for sharing profits or carrying on any activity of the Company which the Company is authorized to carry on.

22. To lend money to or guarantee the contracts of or otherwise assist any person or Company but shall not carry on the business of banking as defined in the Banking Regulation Act, 1949.

23. To subscribe, contribute, assist or to guarantee money for charitable, benevolent, reliqtous, SCientific,national or social purposes.

24. To award benefits including pensions, insurances, annuities, gratUities, profit sharing schemes, share purchase schemes or charitable aid to any person who is or has been an employee or a Director of the company and also to their dependants

25. To purchase, take on lease or otherwise acquire, erect, construct, work, maintain and improve land, building and any other appliances or equipment required for the purpose of the Company.

26. To carry out the objects of the Company as principals, agents, contractors, trustees or otherwise anywhere in the world and by or through trustees, agents or otherwise and either alone or in conjunction with others and to do all such other things as are incidental or as any be condudve to the attainment of the main objects or any of them

27. To apply for, tender, purchase or otherwise acquire any contracts, sub-contracts licenses and concession for or in relation to the objects or business of the Company and to undertake, execute, carry out, dispose of or otherwise turn to account the same.

28. To apply for and utilise financial assistance from Government, State or Central financial Institutions, Bankers, Companies, firms or individuals for the purpose of carrying on and developing all or any of the business of the Company.

29. To insure with any person, Company or corporation, go-downs, goods therein, vehicles, equipment, buildings and other properties of the Company against the risk of any loss or damage and also against third party risk.

30. To acquire and undertake the whole or any part of the business, property and liabilities of any person, firm or Company carrying on any business, which this Company is authorized to carry on or possessed of property suitable for the purpose of the Company for such consideration as the Company may think fit.

31. To sell, let, exchange, mortgage, dispose of or otherwise deal with the movable and immovable assets of the Company or any part thereof upon such terms and conditions and for such considerations as the Company may think fit.

32. To undertake all work and service contracts out side India, in connection with the main object of the Company.

33. To provide all technical assistance and service Including the supply of raw materials required for the business of the company.

34. To apply for, register, purchase acquire maintain renew and dispose of in any way, secret processes, patents, patent rights, trade marks, designs, licenses, protections and concessions anywhere in the World and alter, use sell, manufacture under license or grant licenses or privileges and experiment on or modify any of the above.

35. To remunerate any person or company, for services rendered or to be rendered in or about the formation or promotion of the company or the conduct of its business.

(C) THE OTHER OBJECTS OF THE COMPANY NOT INCLUDED IN (A) AND (B) ABOVE ARE: -

1. To carry on the business of advertising, media publicity and to produce films and albums.

2. To carry on the business of printers and publishers of books, journals and any other materials in print and electronic format.

3. To carry on the business as tourist agents and contractors and to facilitate traveling Including business travels, goods transport, pilgrimages, experimental trips, adventure trips and to provide for tourists and travellers, the provision of convenience of all kinds in the way of through tickets, sleeper cars, or berths, reserved places, hotel, motel and lodging, accommodation gUidance, safe deposits, enquiry bureaus, libraries, reading rooms, baggage transport and other allied services.

4. To carry on the business of manpower consultants, placement services and human resources development activities both In India and abroad for Individuals, bodies corporate, undertakings, institutions, associations, governments, local authorities and others.

5. To establish or otherwise acquire, conduct and manage hotels, restaurants and to carry on the business as hoteliers, restaurants and Bar owners and for that purpose to acquire land, buildings, apartments, plants and machinery furniture, vehicles and such other conveniences

IV. The liability of the Members is limited.

V. The Authorised Share Capital of the Company is Rs. 1,00,000/- (Rupees One Lakh only) divided into 10,000 (Ten thousand only) Equity Shares of Rs. 10/- (Rupees Ten only) each.

We, the several persons whose names and addresses are 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 equity shares in the capital of the Company set opposite our respective names.





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