(i)         The principal line of business of the company shall be to carry on the business of steel mills, iron founders, iron masters, iron and steel converter, mechanical engineers, manufacturers of steel sheets, iron sheets, iron bars, lron, beams, pipes, guarders, nuts, bolts, screws, agricultural implements and all kinds of machinery parts, cycle parts, tool makers, brass founders, metal workers, boiler makers, mill-weights, mill stores, wood workers, painters, metal lurgists, electrical engineers, gas generators, framers printers, carriers and merchants and to buy, sell, manufacture, repair, convert, alter, let on hire, and deal in machinery implements, rolling stocks, and hardwares of all kinds and to carry on any other allied business as permissible under law.

(ii)        Except for the businesses mentioned in sub-clause (iii) hereunder, the company may engage in all the lawful businesses and shall be authorized to take all necessary steps and actions in connection therewith and ancillary thereto.

(iii)       Notwithstanding anything contained in the foregoing sub-clauses of this clause nothing contained herein shall be construed as empowering the Company to undertake or indulge, directly or indirectly in the business of a Banking Company, Non-banking Finance Company (Mutual Fund, Leasing, Investment Company, Investment Advisor, Real Estate Investment Trust management company, Housing Finance Company, Venture Capital Company, Discounting Services, Microfinance or Microcredit business), Insurance Business, Modaraba management company, Stock Brokerage business, forex, real estate business,  managing agency, business of providing the services of security guards or any other business restricted under any law for the time being in force or as may be specified by the Commission.