Revised Memorandum of Association
AIMS AND OBJECTS:The aims and objects for which the society is established are as under
- It is used to identify agricultural,natural,or manufactured goods originating in the said area,
- To undertake and promote programs for the development of Kalanamak Rice (Buddha Rice) involving application of technology, evaluation of region-specific agronomic practices, conducting trials of new promising varieties, and advance seed multiplication projects.
- To facilitate contract farming, field extension projects, and promote cooperation among various stakeholders such as farmers, millers, traders, and exporters involving Farmer Producer Company/Farmer Producer Organization to strengthen the supply chain of Kalanamak Rice (Buddha Rice).
- To apply for, promote, and obtain a license or any other authority’s approval for enabling the society to carry out any of its objectives or for effecting any modification of the Society’s constitution or for any other purpose that may seem calculated directly or indirectly to promote the Society’s interests and to oppose any process directly or indirectly likely to prejudice the Society’s interests.
- To adopt, carry out, or give effect to agreements including agreements entered into before the formation of the Society, arrived at between the Society’s Members and/or any Government authority (Central, State, Municipal, local, or otherwise), company (whether incorporated in India or outside India), firm, or person for the promotion of the objectives of the Society and/or in respect of any matters concerning the affairs and objectives of the Society.
- To establish, equip, and maintain such utilities and other facilities as may be deemed necessary or expedient for fulfilling the objectives of the Society.
- To purchase, lease, rent, hire, or by any other means acquire and take options over any property whatsoever, and rights or privileges of any kind over or in respect of any property, including immovable property, for the purpose.
- To improve, construct, maintain, alter, repair, develop, exchange, rent, or lease, mortgage, charge, sell, dispose of, grant license, option, rights, or privileges in respect of all or any part of the property and rights of the Society which are necessary for the operations of the Society.
- Not to sell or otherwise dispose of the whole or any part of the property of the Society, either together in portions except as provided in sub-clause (f) above.
- To apply for, register, purchase, or by any other means acquire and protect, prolong and renew, whether in India or elsewhere, any patent, patent right, brevet d’invention, license, trademark, design, copyright, protection, or concession, and to disclaim, alter, modify, use or grant licenses in respect of the same, and to expend money in experimenting upon, testing, and improving any of the aforesaid rights which the Society may acquire or propose to acquire.
- To open and operate bank accounts in any Nationalised Bank and to draw, make, accept, endorse, discount, negotiate, execute, and issue cheques, promissory notes, and other negotiable or transferable instruments or securities.
- To solicit, receive, and accept contributions or donations in cash and (including securities and property) or services from individuals, corporations, firms, societies, foundations, governmental agencies, or other sources for pursuing the objectives of the Society.
- To make grants and to award stipends for the furtherance of the objectives of the society.
- To pay all or any expenses incurred in connection with the promotion, formation, and incorporation of the Society.
- To invest and deal with the funds and money of the society in a manner as may, from time to time, be determined as permissible by law, particularly under the Income Tax Act/Rules, to vary, alter, or transpose or sell/recall such investments from time to time.
- To employ, appoint, and retain officers, employees, consultants, attorneys, solicitors, advocates, accountants, auditors, and advisors as may be required for the purposes of the society and to remunerate such officers, employees, consultants, attorneys, solicitors, advocates, accountants, auditors, and advisors as appropriate.
- To suspend or terminate the appointment or engagement of any officers, employees, consultants, attorneys, solicitors, advocates, accountants, auditors, and advisors.
- To institute, intervene in, conduct, or defend legal proceedings by or against the Society, its members, or its officers or employees in respect of any matters affecting the Society directly or indirectly or any of its objectives.
- To adopt such means of making known the activities of the Society as may seem expedient, such as by advertising in the press, circulars, pamphlets, handouts, posters, cinema slides, purchasing and/or exhibiting prizes, rewards, donations, and organizing and participating in exhibitions.
- To do all such things as may be deemed incidental or conducive to the attainment of the Society’s objects or any of them.
- To make General Members in the board by the permission of the President. The General Member includes District and other District-level Farmer Producer Company/Farmer Producer Organization, which is registered by the Ministry of Corporate Affairs and has an active status as of the date.
- To apply for or obtain 12AA and 80G certificates from the income tax department if necessary for the operation of the Society.
All the income, earnings, movable properties of the Society shall be solely utilized and applied towards the promotion of its aims and objects only as set forth in the Memorandum of Association and no profit thereof shall be paid or transferred directly or indirectly by way of dividends, bonuses, profits, or in any manner whatsoever to the present or past Members of the Society or to any person claiming through any one or more of the present or past Members. No member of the Society shall have a personal claim on any movable or immovable properties or make any profit whatsoever by virtue of their membership.