Owners

The Board of Stewards at their meeting held on 22-11-2009 have resolved that henceforth the following criteria will be adopted for approval of new ownership under HRC

Rules.

1. Annual Income to be not less than Rs.5 Lakhs and income proof and copy of income tax filed for the past 3 years has to be submitted.
2. I.T. Assessment for the past 3 years to be submitted.
3. Wealth Tax paid for the past 3 years to be submitted.
4. Copy of latest value of Property/Lands/Plots/Buildings assessed by a competent authority.
5. Copy of permanent account number to be submitted.
6. Interest in racing and other related equestrian sports.
7. Details of business/Profession in the last 3 years.
8. Details of memberships with other race Clubs/Social clubs.
9. Any other personal details.

How to own a Racehorse Individual Owner

1. Applicant should not be a declared defaulter for bets or on any other account by any turf club.
2. Applicant must be an Income-Tax/Wealth Tax assessee or a genuine owner of agricultural lands.
3. Applicant must have a minimum existing income of Rs.5,00,000/- per year to be qualified as a new owner or in the alternative to show assets worth Rs.30,00,000/- lakhs owned by him.
4. Applicant should not be below 21 years.

Registration of Racing Syndicates - Norms/Rules and Procedures

1. A combination of not less than five and not more than ten individuals may submit a formal application in the prescribed form for registration of a "Racing Syndicate" (hereinafter for brevity sake referred to as 'Syndicate'). The registration of such Syndicate shall be governed by the Norms/Rules contained herein. (Partnership registered under the Rules of Racing shall be governed by the Rules of Partnerships, Leases, Contingencies etc., of the Rules of Racing of the Club).

2. A Syndicate, as an independent entity, may race and be the registered owner of a horse, on the norms/rules herein contained and subject to the Rules of Racing. No horse owned by a Syndicate may be entered in a race or fulfill any engagements unless the terms and conditions applicable to Syndicate have been complied with.

3. A Syndicate can own or be the lessee of a horse in its entirety only. It cannot part-own a horse or be the part -lessee of a horse in conjunction with another Syndicate, Company or individual. No Company, registered to own and race horses under the rules shall be permitted to become a member of the Syndicate.

4. a. The proposed name of the Syndicate must contain the words "Racing Syndicate" at the end of the proposed name" so as to distinguish the Syndicate from ownership's by other entities. The name of the Syndicate shall be required to be approved by the Stewards of the Club. b. The Syndicate shall register its own racing colours in its name.

5. All the members of the Syndicate must be owners approved by the Stewards of the Club. The Stewards of the Club shall have complete discretion whether to approve a Syndicate to own and race horses or not and they shall not be required to give any reasons for their decision. Further, before granting registration to any Syndicate to own and race horses, the Stewards of the Club may impose such terms and condition as they may think fit or require the submission of such documents which they consider necessary for granting such registration.

6. a.A Syndicate shall nominate two persons to be "Nominated Members" who will be responsible for giving instructions regarding the management and running of the horse, attending the management and running of the horse, attending to all documentation and financial transactions connected with the Syndicate and shall also attend and depose at enquiries, as an d when required. Of the two one shall be designated the Principal Member and the second will be the "Alternate Member". The Principal Member shall be the one who will be the person basically in charge of the Syndicate and the Alternate Member will assume all the responsibilities of the Principal Member if the Principal Member is not available. The 'Nominated Members' shall be the authorized members to carry out all necessary acts on behalf of the Syndicate. Notwithstanding the responsibilities of the Nominated Members, the other members of the Syndicate shall also be responsible and liable to attend and depose at any enquiries or proceedings of the Club, either jointly or severally, as and when required by the Stewards or Stewards of the Club. Any decision or order rendered by the Stewards/Stewards of the Club shall be binding on all or any members of the Syndicate. b.A Syndicate shall have the option of changing any of its 'Nominated Members' at any time. However, intimation of such a change must be given by all members of the Syndicate who shall sign and deliver the same to the Club before the 'Acceptance Stage' of the race in which the horse is due to run.

7. a. A horse owned by the Syndicate shall be entered and run only in the name of the Syndicate and the Official Race Card will state the ownership of the horse only in the name of the Syndicate. The name of the members of the Syndicate shall be published on a separate page in the Race Card. b. All the members of the Syndicate shall be entitled to enter the paddock before the start of the race in which the Syndicate's horse is running and to lead in the horse if the Syndicate's horse finishes first.

8. a. Any individual, who is an approved owner of the Club, may become a member of the Syndicate or resign as member of the Syndicate by submitting the prescribed form duly signed by him as also the Nominated Members of that Syndicate. b. Any individual who is not an approved owner can become a member of the Syndicate only after such individual is approved as an owner by the Stewards of the Club and upon submission of the prescribed form. c. Every change in the membership of the Syndicate (including the death of a member) shall be notified in writing to the Secretary of the Club within 7 days by either of the nominated members. The intimation of change in membership shall be submitted in the prescribed form accompanied with the prescribed fees as required and as the case may be, In case of death of any member of the Syndicate, the share of such deceased member shall be dealt with in accordance with the law applicable to such member. d. If at any time the membership of the Syndicate is reduced to less than five, the registration of the Syndicate shall stand canceled if within a period of two months there from the Syndicate does not reconstitute its membership to a minimum of five members.

9. The member of the Syndicate shall be deemed to have authorized the Nominated Members with the following powers, duties and responsibilities:- a. To purchase outright or on contingency or obtain on lease a horse or horses for the purpose of racing. b. To sell outright or with contingency or give on lease any horse owned by the Syndicate.

• (i) To enter, withdraw or scratch any horse, owned by the Syndicate;
• (ii) To defray such charges as are required for training, entering such horses in races, jockeys mount fees and such other expenses as are required from the account of the Syndicate;
• (iii) To apply for a name or changing the registered name of a horse owned by the Syndicate, if permitted;
• (iv) To apply for registering the racing colours of the Syndicate;
• (v) To carry out all such acts/ duties as permitted under the Rules of Racing of the Club.

10. In the event of nay dispute or difference arising between the members of the Syndicate, the same shall be settled by the Syndicate and its members without recourse to the club. The Club shall not be liable to settle any disputes or differences of the Syndicate or its members inter-se. In the event the Syndicate or its members fail to resolve such dispute of difference within a period of 30 days from the date when such dispute or difference has arisen, the Stewards of the club shall be entitled t o impose such punishment/fine which they in their absolute discretion think fit. If there is any dispute of the date when such dispute or difference had arisen, the decision of the Stewards of the club shall be final and binding on the Syndicate concerned.

11. a. The Account will be maintained in the name of the Syndicate only and it shall be the responsibility of the Syndicate to do on its own any further or necessary accounting between its members. The Club shall not be responsible or liable in any way for any financial arrangements made between the members of the Syndicate. b. Should the Syndicate be placed on the UNPAID FORFEIT LIST, the ban WILL apply to the Syndicate only and the provisions relating to the Unpaid Forfeit List contained in the Rules of Racing, shall be applicable to the Syndicate. c. Where any member of the Syndicate is in breach of Rule 41(n) of the Rules of Racing or is posted on the Unpaid Forfeit list for any horse/s owned wholly or partly by him, notice period of 30 days shall be given to the Syndicate to either call upon its member to pay u p his/her dues or to cause such member to be removed from the Syndicate within the aforesaid notice period of 30 days, failing which the aforesaid notice period of 30 days, the Syndicate shall be liable to such action as a Partnership is liable under the Rules of Racing and which action shall include sale by Public Auction of the horse/s owned by the Syndicate. Without prejudice to the generality of the foregoing, the Stewards of the Club shall have power to take action against such Syndicate as they may in their absolute discretion think fit and which action may in their absolute discretion think fit and which action may include withdrawal of the approval granted to the Syndicate to own and race horses and/or cancel the registration of the Syndicate.

12. The Stewards of the Club, may in their absolute discretion at any time, and without assigning any reason, withdraw their approval to the Syndicate to own and race horses. Without prejudice to the generality of the foregoing, the Stewards of the Club shall also be entitled to cancel the registration of the Syndicate to own and race horses under the following circumstances a. When any member/s of the Syndicate becomes a disqualified person; b. When any Nominated Member or member/s of the Syndicate fails to provide to the Stewards such information or documents as is warranted or demanded within a reasonable time or fails or refuses to appear before the Stewards of the Club or give evidence whenever required; c. When the Stewards have reason to believe that any member of the Syndicate has criminal or foreign exchange proceeding/s arraigned against him or is subject of any insolvency or bankruptcy proceedings. d. When the Syndicate does not make good the short - fall in the deposit amount payable in respect of a horse/s owned by the Syndicate.

13. The Syndicate shall indicate the address, telephone and fax numbers of the Nominated Members for purposes of communication with the Club and any notices, circulars etc. shall be sent by the Club at such address given by the Syndicate. Any change of address and/or telephone or fax numbers shall be communicated to the Club with seven days from the d ate of such change. The Syndicate shall also furnish the details of its other members such as their name, addresses, telephone Numbers and such other details as requested for by the Club from time to time.

14. It is also clarified that none of the provisions herein contained affect or derogate from the powers of the Stewards/Stewards of the Club contained in the Rules of Racing and Articles of Association of this Club. Without prejudice to the generality of the foregoing, the Stewards and the stewards of the Club have the power to decide on all or any matters pertaining to Syndicate and their decision in the matter shall be final and binding on all concerned. The Stewards/Stewards of the Club shall not be required to give any reasons for their decision given in any matter, If any question arises which, in the opinion of the Stewards of the Club, is not provided for by these Rules, the Stewards of the Club shall be entitled to take their decision in the matter and incorporate such further rules as may be required from time to time.

15. The Stewards of the Club, may, at their sole discretion, causes the publication of registration of Syndicate in the Racing Calendar with such details as they think fit.

16. A fee of Rupees One Thousand only (Rs.1,000/-) shall be payable for registering a Syndicate and a renewal fee of Rs.100/- shall be payable by the Syndicate annually before 31st of March of each year. The Stewards of the Club shall in their absolute discretion have the power to revise the registration and/or renewal fees to be paid by the Syndicate and the Syndicate shall thereupon pay such revised fees/amount to the Club. The registration fee of Rs.1000/- and the the annual renewal fee of Rs.100/- shall be nonrefundable and shall stand forfeited in the event the registration of the Syndicate stands canceled for any reason whatsoever. The registration fee and the first annual fee shall be payable by the Syndicate within the time specified in the intimation sent by the Club to them upon the Stewards of the Club permitting registration of the proposed Syndicate.

17. If the Syndicate does not own any race horse at the time of renewal each year, the Syndicate shall be given time up to a further period of two months to own a race horse, failing which the registration of the Syndicate will be automatically canceled.

18. Neither the Club nor any servant or officer thereof shall have any responsibility for the observance by the members of any Syndicate of the rules or constitution thereof or their obligations to each other there under.

19. Any notice required to be given or communication required to be made by the Club or the Syndicate to the other shall be deemed to have been duly given or made if given in writing and sent by fax, telex, e-mail or any other modern mode of communication but provided such communication is confirmed in writing and delivered by courier or registered post A.D. within a period of 96 hours from the time of communication by fax, telex, e-mail, or other modern mode of communication.

20 The Stewards of the Club have power to add, modify, delete or amend at any time and at their sole discretion, the norms/rules contained herein and the members of the Syndicate agree to be bound by such amendment or alteration.