Section 187C makes it mandatory for the registered holders of shares to declare to the company the beneficial interest of someone else, if any, in the shares. Likewise, a person who holds beneficial interest in the shares, which are registered in the Register of members of the Company in someone else's name, must declare to the company regarding his beneficial interest in the shares.
The declaration required to be made by a person whose name is entered in the Register of Members as a holder but he is not the beneficial owner -within thirty days after his name is entered in the register of members of a company as the holder of a share in that company, to the company in Form I in duplicate.
The declarations required to be made by a person who holds a beneficial interest in the shares of a company under sub-section (2) or sub-section (3) of section 187-C shall be made to the company in Form II in duplicate.
The return in e-Form 22B required to be filed by the company with the Registrar under subsection (4) of section 187-C and shall be accompanied by a copy each of all the declarations made to the company in Form I & II.