Get to know how to get membership and become a part of GCOT ?
The Authorised Share Capital of the GCOT is Rs. 10.00 Lakhs with 1.00 Lakh Shares having Rs. 10.00 as share Value. Out of 100% of shareholding, 65% of shares (65000) are earmarked for the Individuals and or Institutions, who are actively participant in the GCOT Activities, who shall be called as "A-Class" Shareholders. The remaining 35% (35000) shares are earmarked for the individuals and or institutions which don’t take part in activities directly but they shall either provide services to the GCOT or they shall avail the services of the GCOT, these are called "B-Class" shareholders.
As per the provisions of the section 8 of the Companies act, any category of share holders don't have any right to receive any surplus of the GCOT, as the surplus/profit shall not be distributed to members, but it is used to invest for activities under objectives only.
Membership Procedure:
One who intends to get membership shall click the button and apply for membership duly mentioning their details. An automated notification shall be sent to the verified email and mobile numbers. Our GCOT Support Team will call them and verify the information provided by them with due diligence. Once the process of due diligence is done, the application shall be placed before the Board of Directors in the ensuing Board meeting. The authority to sanction or reject the application is vested with the Board of Directors as per the provisions of Article 7 of the GCOT Articles read with section 179 of the Companies Act. The resultant decision of the Board will be communicated to the applicant through email. If the Board has approved the membership of the application, a formal notice for payment of Share capital and admission fee shall be issued and applicant will receive the email accordingly.
The successful paid share capital member shall be issued a certificate of shares in compliance to the provisions of Article 8 of GCOT Articles read with sub-section(1) of section 46 of the Companies Act. The details of the members shall be enrolled in the Register of Members as per the provisions of Article 9 of GCOT Articles read with section 88 of the Companies Act
