Section 93-companies act 2013

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

05 March 2015 Section 93-Every listed company shall file a return in form MGT- 10 with the ROC with respect to change in 2 percent shareholding held by promoters and top ten shareholders of such company, within fifteen days of such change.

Further the instruction kit to Form MGT-10 mentions as under

percentage of shareholding after the change - This field is auto-filled as per the below calculations: percentage of shareholding after the change = {no. of shares held after change - no. of shares held before change} 100 /no. of shares held before change.

This reflects that the change in 2 percent shareholding is of the shareholder himself and not on the paid up capital of the Company. However in a listed Company there are a lot of cases in which change in 2 percent shareholding is of the shareholding of shareholder himself.

In light of the above kindly clarify whether the change in 2 percent shareholding is to be taken on paid up capital of the Company or 2 percent change is to be analysed on change in own shareholding of shareholder between two dates

CA Kapil Verma

CA Kapil Verma (Expert)
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05 March 2015 2 percent change in the shareholding of individual or group of share holders will be taken in calculation.

not the Paid up or authorised capital of company.