Tag Archives: Beneficial Interest

Seeking information of Significant Beneficial Ownership


Section 90 of the Companies Act 2013 substituted by a new set of law. It is a drastic change to understand and need urgent attention for all companies. Amended Section 90 and rules made thereunder has already been notified with effect from 13th June 2018 and 14th June 2018. The significant deadline is on 12th September 2018. Earlier, we discussed Significant Beneficial Interest, declaration, register and return related thereto here and here. Seeking a declaration from a significant Beneficial Ownership is debatable otherwise but the law provides some remedies discussed in this post.

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Declaration by Significant Beneficial Owner


Section 90 of the Companies Act 2013 substituted by a new set of law. It is a drastic change to understand and need urgent attention for all companies. Amended Section 90 and rules made thereunder has already been notified with effect from 13th June 2018 and 14th June 2018. The deadline is on 12th September 2018. In last post here, we discussed Significant Beneficial Interest. In this post, we will discuss the declaration, register and return of Significant Beneficial Ownership.

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Significant Beneficial Owner


Section 90 of the Companies Act 2013 substituted by a new set of law. It is a drastic change to understand and need urgent attention for all companies. Amended Section 90 and rules made thereunder has been notified with effect from 13th June 2018 and 14th June 2018. The significant deadline is on 12th September 2018 with a lot of working and follow up required, coincide with all Annual General Meeting, Annual filing and tax returns. In this post, we will discuss what constitutes Significant Beneficial Ownership.

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Amendment in Management and Administration Rules


Ministry of Corporate Affairs notified on 23rd September 2016 the Companies (Management and Administration) Amendment Rules, 2016 amending the Companies (Management and Administration) Rules, 2013 with effect from that date.

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MEMBERS AND DEBENTURES – HOLDERS


Clause 55 of Section 2 says that member in relation to a company means –

(a)  the subscriber to the memorandum of the company who shall be deemed to have agreed to become member of the company, and on its registration shall be entered as member in its register of member;

(b) every other person who agrees in writing to become a member of the company and whose name is entered in the register of the company; and

(c)  every person holding shares of the company and whose name is entered as a beneficial owner in the records of a depository.

On the other hand, a holder of a debentures is called a debentures – holder.

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