The Rajasthan State Warehousing
Corporation Rules, 1957
In exercise of the powers conferred by section 52 of Agricultural Produce
(Development & Warehousing) Corporations Act, 1956 (Central Act 28 of 1956)
the Government of Rajasthan makes the following rules namely:-
CHAPTER I
Preliminary
Rule - 1. Short title & Commencement.?
These rules may be called the Rajasthan State Warehousing Corporation
Rules, 1957 and shall come into force on the 30th December, 1957.
Rule - 2. Definitions.?
In these rules unless the context otherwise requires.-
(a)
"Act" means
the Agricultural Produce (Development and Warehousing) Corporations Act, 1956,
(b)
"Board of
Directors" means the Board of Directors of the Rajasthan State Warehousing
Corporation,
(c)
"Corporation"
means the Rajasthan State Warehousing Corporation,
(d)
"Executive
Committee" means the Executive Committee of the Board of Directors,
(e)
"Form" means a
Form appended to these rules,
(f)
"Section"
means a section of the Act.
CHAPTER II
Nomination of Directors of State Warehousing
Corporation
Rule - 3. Term of Office and filling casual vacancies among the members of Board of Directors of the State Warehousing Corporation.?
(i)
The term of office of
every Director nominated under sub-sections (a) & (b) of section 20(1) of the
Act shall, in the case of an official Director, to for the period for which he
continues to hold office and in others cases may be 3 years from the date of
his appointment.]
[or
till a successor is nominated in his place whichever is letter:
Provided
that it shall be open to the Authority competent to nominated the Directors
(official and non official) to rescind or modify the nomination at any time or
re-nominate a Director for a further period of 3 years.]
(ii)
Vacancies of the Office
of Director shall be filled up by nomination by the authority competent to
nominate.
Rule - 4. Choice of the Directors of the Executive Committee of the State Warehousing Corporation.?
(i)
The
three directors to be chosen under clause (c) of sub-section (i) of section 35
shall be chosen by the Board of Directors in consultation with the State
Government. Out of 3 directors, (i) 2 directors shall be from among the 5
directors which are nominated by the Central Warehousing Corporation, out of
which at least one should be the non-official member, and
(ii)
One shall be the
Registrar of Co-operative Societies, Rajasthan.
CHAPTER III
Shares of the State Warehousing Corporation
Rule - 5. Shares movable property.?
The shares of the State Warehousing Corporation shall be movable
property.
Rule - 6. Authorised Capital.?
The Authorised Capital of the State Warehousing Corporation shall be 100
lacs of Rupees made up of 1,00,000 shares of Rs. 100 each.
Rule - 7. Conditions of first allotment of shares.?
(i)
Subject
to the provisions of the Act and these Rules, shares of the Corporation shall
be under the control of the Board of Directors.
(ii)
The First allotment of
the shares shall be made by the Board of Directors in accordance with the
provisions of section 29.
(iii)
The Board of Directors
may make allotment of shares either in full or in part depending on the number
of shares issued by Corporation.
Rule - 8. Share register.?
(i)
The
Corporation shall maintain at head office a register of shares issued under
this Act and shall maintain therein the particulars as deemed necessary by the
Board of Directors.
(ii)
In the share register, a
separate ledger shall be maintained in respect of each of the categories of the
share-holders referred to in section 29 of the Act.
Rule - 9. Share certificate.?
(i)
Every
share certificate shall be issued under the common seal of the Corporation.
(ii)
Every share certificate
shall specify the number and denote the number of the shares in respect of
which it is issued and shall be issued within 3 months from the date of
application for shares.
Rule - 10. Share-holders entitled to one share certificate.?
The Central Warehousing Corporation and the State Government shall each
be entitled, free of charge, to one certificate for all shares registered in
their names.
Rule - 11. Renewal of share certificate.?
(i)
If any
share certificate is worn out or defaced or tendered for sub-division, then
upon production thereof to the head office of the Corporation, if may order the
same to be cancelled and issue a new certificate or certificates in lieu
thereof and if any share certificate is alleged to be lost or destroyed, then
upon production of such evidence of the loss or destruction thereof, as the
Board of Directors may consider satisfactory and upon such indemnity with or
without security as the Board of Directors may require, a new certificate in
lieu thereof shall be given to the party entitled to such lost or destroyed
certificate provided that no such certificate shall be issued without notice to
the public inserted in local newspaper and, inviting objection if any, within a
week of the notice. In case of loss or destruction, the party availing himself
of the provisions of this rule shall also pay to the Corporation all expenses
incidental to the investigation of evidence of loss or destruction and the
preparation of the requisite form of indemnity as aforesaid.
(ii)
For every certificate
issued under this rule, there shall be paid to the Corporation a sum of Re. 1/-
in addition to the incidental expenses, which may have been incurred by it
under sub-clause (i).
Rule - 12. The Shares may be issued subject to different conditions as to call etc.?
The Corporation may make arrangements on the issue of shares for a
difference between the holders of such shares in the amount of calls to be paid
and the time of payment of such calls.
Rule - 13. Installments on shares to be duly paid.?
If by the conditions of allotments of any share, the whole or part of
the amount or issue price thereof shall be payable by installments every such
installment shall, when due, be paid to the Corporation by the allottee, which
for the time being shall be registered holder of the share.
Rule - 14. Calls.?
The Board of Directors may, from time to time, make such calls as it
thinks fit upon the share-holders in respect of all moneys unpaid on the shares
held by them respectively and not by the conditions of allotment thereof made
payable at fixed times and each shareholder shall pay the amount of every call
so made on such share holder to the persons and at the times and places
appointed by the Board of Directors.
Rule - 15. When the calls deemed to have been made.?
A call shall be deemed to have been made at the time when the resolution
of the Directors authorising such call was passed and a notice of call issued
to the share holders specifying the time and the place of payment and to when
such call shall be paid. Atleast 15 days' time from the date of issue of such
notice shall be given to the share-holders for such payment.
Rule - 16. When interest on call or installment payable.?
If the sum payable in respect of any call or installment be not paid on
or before the pay appointed for payment thereof, the holder for time being of
the share in respect of which the call shall have been made of the installment
due, shall pay interest for the same at the rate of 9 percent per annum from
the day appointed for the payment thereof, to the time of the actual payment or
at such other rate, as the Board of Directors may determine. The Board of
Directors may, in its absolute discretion, waive the payment of interest under
this rule.
Rule - 17. Evidence in action for call.?
At the trial or hearing of any action for the recovery of any money due
for any call, it shall be sufficient to prove that the name of the Share-holder
sued, is entered in the register as the holder, that the resolution making, the
call is duly recorded in the Minute book, in pursuance of these rules, and it
shall not be necessary to prove the constitution of the Board of Directors,
which makes such call, nor any other matters whatsoever but the proof of the
matters aforesaid shall be conclusive evidence of the debt.
Rule - 18. Payment of calls in advance.?
The Board of Directors may, if it thinks fit, receive from any share
holder willing to advance the same, all or any part of the capital due upon the
shares held by such member beyond the sum actually called for; and upon the
amount so paid in advance or so such thereof as from time to time exceeds the
amount of the calls then made upon the shares in respect of which such advance
has been made, the Corporation may pay interest at such rate as the
share-holder paying such sum in advance and the Board of Directors agree upon.
Rule - 19. If call or installment not paid, notice may be given.?
If any share-holder fails to pay any call or installment on or before
the day appointed for the payment of the same, the Board of Directors may at
any time thereafter, during such time as the call or installment remains unpaid
serve a notice on such share holder requiring such share-holder to pay the same
together with any interest that may have accused and all expenses that may have
been incurred by the Corporation by reason of such non-payment.
Rule - 20. Form of notice.?
The notice shall name a day and a place or places on and at which such a
call or installment and such interest and expenses as aforesaid are to be paid.
The notice shall also state that in the event of non-payment at or before the
time and at the place appointed, the shares in respect of which the call was
made or installment is payable, will be liable to be forfeited.
Rule - 21. If notice not complied with shares may be forfeited.?
If the requisitions of any such notice as aforesaid are not complied with,
any shares in respect of which such notice has been given by at any time
thereafter, before payment of all calls or installments interest and expenses,
due in respect thereof, be forfeited by a resolution of the Board of Directors
to that effect. Such forfeiture shall include all dividends declared in respect
of the forfeited shares, and not actually paid before the forfeiture.
Rule - 22. Forfeited shares to become the property of the Corporation.?
Any shares so forfeited shall be deemed to be the property of the
Corporation, and the Board of Directors may sell, re-allot or otherwise dispose
of the same in such manner as they may think fit, subject to the provision of
section 29 of the Act.
Rule - 23. Power to annual forfeiture.?
The Board of Directors may at any time before any shares so forfeited
shall have been sold, re-allotted or otherwise disposed of, annul the
forfeiture thereof upon such conditions as it thinks fit.
Rule - 24. Arrears to be paid notwithstanding forfeiture.?
Any shareholder, whose shares have been forfeited under Rule 21 shall
notwithstanding such forfeiture be liable to pay, and shall forthwith pay to
the Corporation interest and expenses owing upon or in respect of such shares
at the time of forfeiture together with interest thereon, from the time of
forfeiture until payment at 9 percent per annum and the Board of Directors may
enforce the payment thereof; if they think fit.
CHAPTER IV
Miscellaneous
Rule - 25. Maintenance of and operation upon Bank Accounts and investments of the State Warehousing Corporation.?
(i)
All
moneys belonging to the Corporation shall be deposited in the Reserve Bank or
the State Bank of India or, subject to the sub- rules below, in such scheduled
Bank or Co-operative Bank as may be approved for this purpose by the State
Government to the account of the Corporation.
(ii)
All payments by or on
behalf of the Corporation shall be made by cheques except for amounts not
exceeding Rs. 500/- which may be made in cash from the amount of imprest
sanctioned for such purposes.
(iii)
Such Cheques and all
orders for making deposits or investments or for the withdrawal of the same for
the disposal in any other manner or the funds of the Corporation, shall be
signed by the Managing Director or any officer of the Corporation, authorised
by the Board in this behalf.
(iv)
No payment shall be made
out of the accounts of the Corporation unless the expenditure is covered by the
financial estimate referred to in section 36(1) provided, however, that the
Executive Committee of the Corporation may, at its discretion, authorise
expenditure being incurred in anticipation of such estimate. The statement of
expenditure so incurred shall be submitted to the Board of Directors as its
next meeting.
(v)
All monetary
transactions shall be entered in the Cash-book as soon as they occur and
attested by an Officer of the Corporation duly authorised in this behalf. The
Cash book shall be closed daily and completely checked by the Managing Director
or the Officer authorised by him in this behalf. At the end of each month, the
Managing Director or the Officer so authorised, shall verify the cash book and
the cash in hand and record a signed and dated certificate to that effect.
(vi)
All payments by the
Corporation shall be made on bills or other documents duly prepared and passed
by the Managing Director or other Officer authorised in this behalf. The paid
voucher shall be stamped "Paid" or so cancelled that they cannot be
used a second time. They should then be kept serially numbered and produced at
the time of audit.
Rule - 26. Deposit in bank or investment in securities of surplus funds.?
(i)
Any
funds of the Corporation not required for current may be placed in fixed
deposits with the Reserve Bank of India or State Bank of India or any scheduled
or Co-operative Bank approved in this behalf by the State Government or
invested in the name of the Corporation in the securities of the State
Government or the Central Government.
(ii)
The placing of money in
fixed deposit and the investment thereof and the disposal of money so placed or
invested shall require the sanction of the Executive Committee of the
Corporation.
Rule - 27. Annual statement of Account and Balance-Sheet.?
The Board of Directors shall cause the books of the Corporation to be
balanced on the last working day of the month of March in every year and the
annual accounts shall be set out as follows:-
(a)
A balance sheet in Form
'A'.
(b)
A Profit and Loss
Account in Form 'B'
Form 'A'
(Rule No. 27)
Rajasthan
State Warehousing Corporation
Balance Sheet as on 31st March
???????????
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Capital
and Liabilities
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Property
and Assets
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Rs. nP.
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Rs. nP.
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1.
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Capital:-
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1.
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Cash in
hand
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(i)
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Authorised
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2.
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Cash in
Bank:-
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(ii)
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Issued
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(i)
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The
Reserve Bank of India
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(iii)
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Subscribed:-
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(ii)
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The State
Bank of India
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(a) State
Government
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(iii)
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Scheduled
Banks
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(b)
Central Warehousing Corporation
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(iv)
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Co-operative
Banks
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(iv)
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Paid up
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3.
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Investments
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2.
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Calls in
arrears
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(i)
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Central
Government Securities
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3.
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Reserve
fund under section 40(1)
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(ii)
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State
Government Securities
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4.
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Bad and
Doubtful Debts fund under section 40(2)
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(iii)
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Shares of Co-operative
Societies [under section 34(c)]
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5.
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Other
Funds
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(iv)
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Other
investments
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6.
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Bond and
Debenture section 37 (1)
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4.
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Fixed
assets:-
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7.
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Borrowing
form:-
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(i)
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Lands
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(i)
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The
Reserve Bank of India [under section 37(2) (i)(a)]
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(ii)
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Buildings
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(ii)
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The
Reserve Bank of India [under section 37(2)(i)(b)]
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(iii)
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Godowns
and Warehouses
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(iii)
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The State
Bank of India [under section 37(2)(ii)]
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5.
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Value of
dead-stock
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(iv)
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The State
Government [under section 37(3)]
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6.
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Outstanding
dues from or purchases made on behalf-
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(v)
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National
Cooperative Development and Warehousing Board [under section 9(2)(b)]
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(i)
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Central
Government
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(vi)
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Central
Warehousing Corporation [under section 37(3)]
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(ii)
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State
Government
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(vii)
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National
Co-operative Development and Warehousing Board [under section 37(3)]
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(iii)
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Central
Warehousing Corporation
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8.
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Advances
received for purchase of Agricultural Commodities:-
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7.
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Guarantees
by State Government per contra
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(i)
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From
Central Government [under section 34(e)]
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8.
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Other
items
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(ii)
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From State
Government [under section 34(e)]
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(iii)
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From
Central Warehousing Corporation [under section 34(e))
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9.
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Liability
(section 37(4) under guarantees by State Government for bonds and debenture
per Contra.
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10.
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Provision
for taxes
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11.
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Other
liabilities
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12.
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Suspense
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13.
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Other
items
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14.
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Profit and
Loss Account
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Form 'B'
(Rule 27)
Rajasthan
State Warehousing Corporation
Profit and Loss Account for the year ended 31st
March....
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Rs. nP.
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Rs. nP.
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1.
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Interest
On :-
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1.
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Warehousing
Charges
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(i)
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Loans from
Reserve Bank of India.
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2.
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Interest
On :-
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(ii)
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Loans from
central Warehousing Corporation
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(i)
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Securities
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(iii)
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Loans from
State Bank of India.
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(ii)
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Bank
Accounts.
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(iv)
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Loans from
Central Government
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(iii)
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Advances
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(v)
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Loans from
State Government
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(iv)
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Loans from
:-
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(vi)
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Loans from
National Co-operative Development & Warehousing Board.
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(a)
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Central
Government
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(vii)
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Bonds
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(b)
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State
Government
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(viii)
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Debentures
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(c)
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Central
Warehousing Corporation
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2.
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Establishment
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(d)
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National
Co-operative Development & Warehousing Board.
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3.
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Director's
Fees etc.
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(e)
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Reserve
Bank
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4.
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Rent,
Rates, taxes
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(f)
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State Bank
of India.
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5.
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Depreciation
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3.
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Subsidies
:-
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6.
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Repairs
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From
National Co-operative Development & Warehousing Board.
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7.
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Bad and
Doubtful Debts
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4.
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Divide on
shares in Co-operative Societies.
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8.
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Auditor's
Fee for remuneration.
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5.
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Other
income including Agency Commission.
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9.
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Stationery,
Printing etc.
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?.................................
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10.
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Miscellaneous
expenses
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Net Profit c/d ...............
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Net Profit b/d ...............
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