Applicability of section 187- c of the companies act
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
11 August 2012
A Holding Company holds 100% shares in a subsidiary Company. in orderto comply with the requirements of Seven members, holding company along with 6 of its nominees hold equity shares in the company.nominees hold one equity share of Rs. 10/- each. whether Section 187-C will apply in respect of the said nominees?. whether the provisions of Section 187-C stands reduntant w.e.f 13.12.2000 (comapnies {amdmnt} 2000)? Please guide.
11 August 2012
i) 187C applies.
ii) 187B ,and not 187C, is redundant from the cited date.
ii) 187B ,and not 187C, is redundant from the cited date.
Querist : Anonymous
Querist :
Anonymous
(Querist)
11 August 2012
sir
I am attaching the rules as downloaded from MCA website it clearly states 187C. kindly advise. if applicable what proicedure needs to be adopted and whether Form II require signatures of both the nominee holder as well as the Holding Company
I am attaching the rules as downloaded from MCA website it clearly states 187C. kindly advise. if applicable what proicedure needs to be adopted and whether Form II require signatures of both the nominee holder as well as the Holding Company
Querist : Anonymous
Querist :
Anonymous
(Querist)
11 August 2012
The Companies (Declaration of Beneficial Interest in Shares) Rules, 1975
Note :- Provisions of section 187C have become redundant on and after the commencement of the Companies (Amendment) Act, 2000.
In exercise of the powers conferred by section 187-C, read with clause (a) of sub-section (1) of section 642, of the Companies Act, 1956 (1 of 1956), the Central Government hereby makes the following rules, namely :-
1.
Short title and commencement.-
(1)
These rules may be called The Companies (Declaration of Beneficial Interest in Shares) Rules, 1975.
(2)
They shall come into force on the date of their publication in the Official Gazette.
2.
Definitions.-
In these rules, unless the context otherwise requires,-
(i)
"Act" means the Companies Act, 1956 (1 of 1956) ;
(ii)
"form" means a form annexed to these rules ;
(iii)
"section" means a section of the Act.
3.
Form of Declaration and the particulars to be contained therein.-
(1)
The declaration required to be made by a person referred to in sub-section (1) of section 187-C shall-within thirty days from the commencement of these rules, or 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, whichever is later, be made to the company in Form I in duplicate.
(2)
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.
(3)
The return required to be filed by the company with the Registrar under sub-section (4) of section 187-C shall be in Form III and shall be accompanied by a copy each of all the declarations made to the company under sub-rules (1) and (2).
(4)
The period of thirty days will start from the date on which complete declarations are received by the company (Departmental Circular dated 5.8.1976).
FORM I
[See Rule 3 (1)]
Declaration by the person referred to in section 187-C (1) of the Companies Act,
1956 (1 of 1956)
TO
. ...................
(Name of the Company)
......................
(Address of the registered office)
In pursuance of sub-section (1) of section 187-C of the CompaniesAct, 1956 (1 of 1956), I hereby declare that.............. holds the beneficial interest in (number)............... (kind).............. shares bearing Nos. ............. which are entered in my name in the register of members of the company as the holderof such shares. The particulars of such persons who hold the beneficial interest in the said shares are given below :
1.
Sl. No.
Name
Father's/husband's name
Age
Occupation
Address
2.
Nature of the beneficial interest.
3.
Date of acquisition of the beneficial interest.
4.
Reasons why the shares have not been registered in the name of the person holding the beneficial
interest in the register of the company.
5.
Paid-up value of such share(s).
Signature of the person making the declaration.
Name and address :
Place : ......................
Date : .......................
FORM II
[See Rule 3 (2)]
Declaration to be made by a person referred to in sub-section (2) or sub-section (3) of section 187-C of the Companies Act, 1956 (1 of 1956)
To
...........................
(Name of the Company)
...........................
(Address of the registered office)
In pursuance of sub-section (2), sub-section (3) of section 187-C of the Companies Act, 1956 (1 of 1956), I hereby declare that I hold/have obtained the beneficial interest in
(number). ......... (kind) .......... shares bearing Nos................. and specify the following particulars, namely :-
1.
Sl. No.
Name
Father's/husband's name
Age
Occupation
Address
2.
Date of allotment/transfer of the shares in the name of the person or persons referred to above.
3.
Date of acquisition of the beneficial interest.
4.
Particulars of the person from whom the beneficial interest is acquired. If the transferor of the beneficial interest is also a person who held only a beneficial interest, state whether any declaration under sub-section (2) of section 187-C had been made by him to the company. If so, the date of the declaration (s) made by him
5.
Nature of the beneficial interest.
6.
Circumstances under which the shares were not registered in my name.
Signature of the person making the declaration.
Name and address :
Place : ....................
Date : .....................
CERTIFICATE
I hereby certify that the beneficial interest in the shares mentioned above has been transferred by me on .......................
(Date)
Signature of the person who has transferred
the beneficial interest in the shares.
Form III
Form of return to be filed with the Registrar pursuant to sub-section (4) of section 187-C of the Companies Act, 1956 (1 of 1956)
Name of the Company .................................
Registration No. of Company :
Address of its registered office....................
Nominal Capital :
Sl. No.
Particulars of shares in respect of which the person whose name is entered in the register of members of the company as a holder thereof does not hold the beneficial interest in such shares
Particulars of persons in whose names the above shares have been registered as holders in the register of members
Particulars of persons who hold a beneficial interest in such shares
Nature of the beneficial interest
Dates of declarations under sub-section (1),(2)&(3) received in respect of the said shares together with names of declarants
Dates of receipt of the said declarations by the company
(1)
(2)
(3)
(4)
(5)
(6)
(7)
No. of shares
Distinctive nos. of shares
Kind of shares
Face value of shares
Paid up value of shares
Name and Nationality
Address
Father's/ husband's name
Date of entry of name in register
Name and
Nationality
Address
Occupation
Date.........................
Signature of person signing
on behalf of the company
Note :- Provisions of section 187C have become redundant on and after the commencement of the Companies (Amendment) Act, 2000.
In exercise of the powers conferred by section 187-C, read with clause (a) of sub-section (1) of section 642, of the Companies Act, 1956 (1 of 1956), the Central Government hereby makes the following rules, namely :-
1.
Short title and commencement.-
(1)
These rules may be called The Companies (Declaration of Beneficial Interest in Shares) Rules, 1975.
(2)
They shall come into force on the date of their publication in the Official Gazette.
2.
Definitions.-
In these rules, unless the context otherwise requires,-
(i)
"Act" means the Companies Act, 1956 (1 of 1956) ;
(ii)
"form" means a form annexed to these rules ;
(iii)
"section" means a section of the Act.
3.
Form of Declaration and the particulars to be contained therein.-
(1)
The declaration required to be made by a person referred to in sub-section (1) of section 187-C shall-within thirty days from the commencement of these rules, or 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, whichever is later, be made to the company in Form I in duplicate.
(2)
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.
(3)
The return required to be filed by the company with the Registrar under sub-section (4) of section 187-C shall be in Form III and shall be accompanied by a copy each of all the declarations made to the company under sub-rules (1) and (2).
(4)
The period of thirty days will start from the date on which complete declarations are received by the company (Departmental Circular dated 5.8.1976).
FORM I
[See Rule 3 (1)]
Declaration by the person referred to in section 187-C (1) of the Companies Act,
1956 (1 of 1956)
TO
. ...................
(Name of the Company)
......................
(Address of the registered office)
In pursuance of sub-section (1) of section 187-C of the CompaniesAct, 1956 (1 of 1956), I hereby declare that.............. holds the beneficial interest in (number)............... (kind).............. shares bearing Nos. ............. which are entered in my name in the register of members of the company as the holderof such shares. The particulars of such persons who hold the beneficial interest in the said shares are given below :
1.
Sl. No.
Name
Father's/husband's name
Age
Occupation
Address
2.
Nature of the beneficial interest.
3.
Date of acquisition of the beneficial interest.
4.
Reasons why the shares have not been registered in the name of the person holding the beneficial
interest in the register of the company.
5.
Paid-up value of such share(s).
Signature of the person making the declaration.
Name and address :
Place : ......................
Date : .......................
FORM II
[See Rule 3 (2)]
Declaration to be made by a person referred to in sub-section (2) or sub-section (3) of section 187-C of the Companies Act, 1956 (1 of 1956)
To
...........................
(Name of the Company)
...........................
(Address of the registered office)
In pursuance of sub-section (2), sub-section (3) of section 187-C of the Companies Act, 1956 (1 of 1956), I hereby declare that I hold/have obtained the beneficial interest in
(number). ......... (kind) .......... shares bearing Nos................. and specify the following particulars, namely :-
1.
Sl. No.
Name
Father's/husband's name
Age
Occupation
Address
2.
Date of allotment/transfer of the shares in the name of the person or persons referred to above.
3.
Date of acquisition of the beneficial interest.
4.
Particulars of the person from whom the beneficial interest is acquired. If the transferor of the beneficial interest is also a person who held only a beneficial interest, state whether any declaration under sub-section (2) of section 187-C had been made by him to the company. If so, the date of the declaration (s) made by him
5.
Nature of the beneficial interest.
6.
Circumstances under which the shares were not registered in my name.
Signature of the person making the declaration.
Name and address :
Place : ....................
Date : .....................
CERTIFICATE
I hereby certify that the beneficial interest in the shares mentioned above has been transferred by me on .......................
(Date)
Signature of the person who has transferred
the beneficial interest in the shares.
Form III
Form of return to be filed with the Registrar pursuant to sub-section (4) of section 187-C of the Companies Act, 1956 (1 of 1956)
Name of the Company .................................
Registration No. of Company :
Address of its registered office....................
Nominal Capital :
Sl. No.
Particulars of shares in respect of which the person whose name is entered in the register of members of the company as a holder thereof does not hold the beneficial interest in such shares
Particulars of persons in whose names the above shares have been registered as holders in the register of members
Particulars of persons who hold a beneficial interest in such shares
Nature of the beneficial interest
Dates of declarations under sub-section (1),(2)&(3) received in respect of the said shares together with names of declarants
Dates of receipt of the said declarations by the company
(1)
(2)
(3)
(4)
(5)
(6)
(7)
No. of shares
Distinctive nos. of shares
Kind of shares
Face value of shares
Paid up value of shares
Name and Nationality
Address
Father's/ husband's name
Date of entry of name in register
Name and
Nationality
Address
Occupation
Date.........................
Signature of person signing
on behalf of the company
11 August 2012
I know that. I still hold my observation as correct in view of section 187C(8).
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