Benefiiciary Shares
This query is : Resolved
30 December 2009
A foreign company after acquiring 100% share holding of an Indian company can nominate to any person as registered shareholders in order to fulfill the requirements of the companies Act for Two Members..
30 December 2009
The company should transfer 1 share to any one person (individual) who would only be the registered member without holding beneficiary rights. Then, comply with the procedure for declaration of beneficiary interest in favour of the foreign company.
31 December 2009
Reference is also invited to section 187C(1) and (2) of the Companies Act,1956.
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