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Eligibility of Corporate Membership
The Corporate body should have office or place of business
In Union Territory of Delhi
Corporate body should be a Public Limited or a Private
Limited Company
Paid up capital and free Reserves of Public Limited/Private
Limited Co. should exceed Rs. 1 Crore and it should
produce latest audited balance sheet in support
Procedure for Election
Application mentioning the name of nominees and draft
in favor of Panch Shila Club shall be submitted by the
Public/Private Ltd. Company.
The ‘Corporate’ membership shall cease after
15 years from the date of payment of entrance fee.
A corporate body may seek membership for not more than
four of its senior executives. The entrance fee payable
by the Corporate body for its executives shall be determined
by Society’s General Body from time to time..
The ‘Corporate’ members of the Club shall
be limited to 60 and no Corporate member will be permitted
to have more than four nominees at any one time.
Each nominee of a Corporate member shall pay monthly
subscription as prescribed by the Society’s General
Body from time to time.
Election of Corporate member and their nominee/nominees
will be made by the Managing Committee according to
the procedure that it may prescribe from time to time
and its decision shall be final.
A Corporate member shall cease to be a member on :
Ceasing to have an office or place of business in Union
Territory of Delhi
Liquidation of the Company or being ordered to be wound
up by competent authority.
Non payment of Club dues by a nominee on being declared
a defaulter under the rules of the Club
The Managing Committee canceling the election within
12 months of the date of admission of the Corporate
member, such Corporate Memebr shall not have the right
to make any appeal or demand reasons for cancellation
but the entrance fee paid will be refunded in such part
as determined by the Managing Committee.
Except the proviso herein above, the entrance fee or
part thereof shall not be refunded for termination of
Corporate membership when the termination is by the
Corporate member of its own volition.
General:
Corporate members and their nominee shall have no right
in the management of the Club in any form
Nominee of Corporate members shall be governed by the
Rules and Regulations applicable to Nominal members
of the Club. |
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Members Zone
Terms & Conditions for Corporate Members