Section 10:
Transfer of shares held by Integral Company to Bharat Refractories Limited.
On the
appointed day, all the shares held by the Integral Company in the share capital of the India Firebricks and
Insulation Company Limited (a company formed and registered under the Companies Act having its
registered office at Bombay in the State of Maharashtra) shall stand transferred to, and vest in, the Bharat
Refractories Limited.