f two or more persons are jointly subscribe for or hold one single
share or several shares, they shall be jointly liable for the payment for
the shares and for the over par value of such shares and shall appoint
only one among them as the person to exercise the right in the status
of share subscriber or shareholder, as the case may be, and in this
case a written evidence of such appointment shall be submitted to the
Company or to the Share Registrar. In case there is no evidence of
such appointment, it shall be presumed that the person who is named
firstly in the subscriber’s certificate or share certificate shall be the one
so appointed and shall solely exercise the said right until such
evidence is submitted to the Company.