Amendment in Articles - is it compulsory for this matter

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SREE VIDHYA RAJU (Querist)
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01 October 2009 My Company which is an existing unlisted company is proposing to create ISIN for enabling shareholders to hold shares in demat form. Is it compulsory to amend the Articles of the Association of the Company. As far as I see, the Companies Act in the current form is containing necessary provisions pertaining to holding shares in demat form. Still will it be required or is it desirable to amend the Articles of Association of the Company to factor any specific clauses in relation to holding shares of Company in the electronic mode.

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Guest (Expert)

02 October 2009 no, it is not compulsory.

as depositories act shall have the overriding effct

Ankur Garg

Ankur Garg (Expert)
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03 October 2009 Not compulsory.

But if alteration is not a big deal for you then go for insertion of appropriate clause.

Regards

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