The document is a prospectus for the formation of Innovation Automobile Company Limited as a public limited company. It provides details on the company name, registered office location, objectives, capital structure, board of directors, agreements signed, and bank details. Key information includes: 1) The company was incorporated on November 1, 2009 and received its Certificate of Commencement of Business on November 30, 2009. 2) The authorized capital is Rs. 500,000,000 divided into 50,000,000 shares of Rs. 10 each. 3) The objectives are to make multipurpose and luxury vehicles. 4) Two agreements were signed - with Heights Construction for building factories worth Rs.

1. CBL Term Paper
FORMATION OF PUBLIC LTd.
AUTOMOBILE COMPANY
SUBMITTEd TO SUBMITTEd BY
MR R.S DEOL sonu kumar
ROLL NO.RT1903A67
REG. NO-10907368
MBA 1st Sem.

2. Memorandum of Association
1. Name of the company :
Innovation Automobile Company Limited.
Bojaj automobile limited: cannot be registered because it is similar to
the existing company.
Mahatma Automobiles Company: cannot be registered because under
emblem act such names cannot be used.
Kingfisher automobile company: cannot be registered since this name is
already used.
2. REGISTERED OFFICE LOCATION:
It is Located in PUNJAB
Jurisdiction to be solved in Chandigarh court.
Capital:
Authorized Rs 500,000,000
Issued Rs 480,000,000
Subscribed Rs 450,000,000
3. Liability:
Limited by shares

3. 4. Objectives:
To make multipurpose vehicles and luxury
vehicles
Should protect the interest of shareholders
Following are the Forms are to be filled for the
formation of Public Limited Company

7. FORM NO 29
Registration No. of Company ........................ Nominal Capital Rs. ...................................
THE COMPANIES ACT, 1956
Consent to act as director of a company and/or undertaking to take and pay for qualification shares
[pursuant to section 264(2)/266(I)(a) and 266(1)(b)(iii)]
Name of company .............................................. Limited ..........................................
Presented by ..................................................................................................................
To the Registrar of Companies .......................................................................
I, the undersigned, hereby testify my consent to act as director of the .......................... limited,
................................ pursuant to section 264(2)/266(1)(a) of the Companies Act, 1956 and certify that I
have not been disqualified to act as a director under sections 267 and/or 274 of the Companies Act, 1956.
I, the undersigned having consented to act as director of the .............................. Limited, also
hereby undertake to take from the said company and pay for .................... shares of Rs. ................. each,
being the number/value of the shares prescribed as the qualification shares for the office of director of the
said company.
Name and surname Address Occupation Date of birth Nationality Signature
in full and father’s
names
1 2 3 4 5 6
Signature ..............................
Designation ...........................
Dated the ........................... day of .................... 19
Notes: (1) Delete the portion not applicable.
(2) If a director signs through his agent authorised in writing, the authority must be produced
before the Registrar.
(3) In case of undertaking to take and pay for qualification shares, the from should be
accompanied by the necessary stamp duty.

8. ARTICLES OF ASSOCIATION OF INNOVATION
AUTOMOBILE LTD.
Share Capital
Authorized Share Capital is Rs 500,000,000 divided into 50,000,000
ordinary shares of Rs.10 each.
Under the Companies Act, as well as our Articles of Association, if our
share capital is divided into different classes of shares, all or any of the
rights or privileges attached to each class of shares may be varied,
modified or abrogated with the consent in writing of the holders of not
less than three-fourths of the issued shares of that class.
Dividends
Under the Companies Act, unless the Board recommends the
payment of a dividend, the shareholders at a general meeting have no
power to declare any dividend. Subject to certain conditions laid down
by Section 205 of the Companies Act, no dividend can be declared or
paid by a company
Under our Articles of Association, the shareholders at a general
meeting may declare a lower, but not higher, dividend than that
recommended by the Board. Dividends must be paid within 30 days
from the date of the declaration.
Under the Companies Act, we may only pay a dividend in excess of 10%
of paid-up capital in respect of any year out of the profits.

9. Calls on Shares, Pre-Emptive Rights and Alteration of
Share Capital
Under the Companies Act, the Board of Directors may from time to
time make such calls as they think fit upon the members of the
Company in respect of all moneys unpaid on the shares held by them
respectively and each member is required to pay the amount of every
call so made on him to the Company.
Meetings of Shareholders
We must hold our Annual General Meeting each year within 15 months
of the previous Annual General Meeting and in any event not later than
six months after the end of each accounting year. We give written
notices to all members and, in addition, give public notice of general
meetings of shareholders in a daily newspaper.
Voting Rights
At a general meeting upon a show of hands, every member holding
shares and entitled to vote and present in person has one vote. Each
shareholder entitled to vote and present in person or by proxy is in the
same proportion as the capital paid-up on each share held by such
holder bears to the total paid-up capital. The Chairman of the meeting
has a casting vote. The instrument appointing a proxy is required to be
lodged with the company at least 48 hours before the time of the
meeting.

10. PROSPECTUS OF INNOVATION AUTOMOBILES LTD.
Part I
General Information
Registered Office:
Innovation Automobiles Ltd.
Near Malhotra Hospital,
Banga Road,
Phagwara.
Corporate Office:
54, Model town Jalandhar
Government Approvals
The Company was incorporated on 1stNovember 09 and received
Certificate of Commencement of Business on 30th November 09.
Listing
Initial Application has been made to The Stock Exchange, Mumbai.
Names and Addresses of Auditors, Registrars,
Debenture, Trustees, Auditors
M/s. DK Gera & Co.
Chartered Accountants
706/708, Sharda Chambers
Chandigarh

11. Registrars to the issue
India bulls financial Services
Satam Estate, 3rd Floor,
Above Bank of Baroda,
Chapala, Andrei [East]
Mumbai 400 099
Trustees to the Debenture holders:
UTI Bank Ltd.
Merchant Banking Division
111, Maker tower ‘F’
Patiala.
Capital Structure
Authorized Rs 500,000,000
Issued Rs 480,000,000
Subscribed Rs 450,000,000
Details regarding Shareholders
Name of Shares Held(in % Stake(in total)
Shareholders numbers)
Sr.No.
Anshul jain 5000000 25
1
Samidha Singh 5000000 25

12. 2
3 Abhishek 5000000 25
Chaudhary
4 Raiaz Ahmed 5000000 25
PARTICULARS OF THE ISSUE
Objects of the Borrowing
To augment the resources of the Company for meeting ongoing
long term working capital
Requirements
Promoters and their background
Anshul Jain
Samidha Singh
Set up in 2009 to make luxury and multipurpose vehicles for the
Indian market.
Today Innovation Automobile has two main operating divisions:
The Automotive Division manufactures utility vehicles, light
commercial vehicles and three wheelers.
The Tractor (Farm Equipment) Division makes agricultural tractors
and implements that are used in conjunction with tractors. This
division has also ventured into manufacturing of industrial
engines.

13. Board of Directors
The Company's current Board of Directors is as follows:
Mr. Anshul Jain
Miss. Samidha Singh
Mr. Abhishek Chaudhary
Mr. Raiaz Ahmed
Mr. David Friedman
Mr. V. K. Chanana
Mr. B. R. Gupta
Mr. Narayanan Vaghul
Dr. A. S. Gangly
Mr. R.K. Kulkarni
Mr. Anupam Puri
Mr. Bharat Doshi
Risk Management
Several important steps were taken to evolve a risk management
system compatible with the type and size of the Company’s
operations as well as the management's risk perceptions.
STOCK MARKET DATA
The Issuer is an unlisted company and market data of stock
exchange is not available

14. DISCLOSURE ON INVESTOR GRIEVANCES AND
REDRESSAL SYSTEM
To ensure that Investors grievances are attended to expeditiously
it will be handled by:
Mr. Nitin Shah
Treasurer
Innovation Automobiles Ltd.
Sadhana House, 2nd Floor,
Jalandhar, Punjab
Phone No. : 09023128737
Fax No.: 0181-24900728
E mail: nitinshah@innovation.com
The details regarding normal time taken for disposal of various
types of investor’s grievances is
Given below:
1 Change of Address: 2 days
2 Issuance of duplicate Debenture Certificate: 30 days
3 Non receipts of Interest warrants: 2 days
Part II
Consent
M/s B.K.Khare & Co, Chartered Accountants, the Statutory
Auditors of the Company has their written consent to their
report being included in the form and content in which it
appears in this
Information Memorandum

15. Procedure and Time Schedule for allotment and issue of
certificates.
Debentures would be allotted by Committee of Directors of the
Company and Letter of Allotment
Would be issued / credited within 21 days from date of allotment
and Debenture Certificates in
Physical/ Dematerialized form would be issued / credited within 3
months from the date of
Allotment.
Bankers to the Company
1. State Bank of India
Nariman Point, Mumbai
2. Union Bank of India
Nariman Point, Mumbai
3. Corporation Bank
New Delhi
4. Punjab National Bank
Banga Road, Phagwara
5. Canara Bank
Worli, Mumbai
6. Indian Overseas Bank
Nariman Point, Mumbai
7. Standard Chartered Bank
Fort, Mumbai

16. Agreements of Innovation Automobile Ltd.
company
Company has signed two agreements with
1. Heights construction Company Ltd.
2. Beahead Media Company Pvt. Ltd.
HEIGHTS CONSTRUCTION COMPANY LTD.
 Heights Company has agreed to make our
factories in two places within the time period of
two years
 It should be of good quality.
 The contract is of Rs 10 cr per factory.
MOU has been signed on 2ndDec09.

17. BEAHEAD MEDIA COMPANY PVT. LTD.
 Beahead Media company Pvt. Ltd. has agreed to
promote our products to the desired
consumers.
 The agreement is of one year.
 The contract is of Rs 50 cr.
The MOU has been signed on 3rd Dec 09