Form mgt-10 - changes in shareholding
This query is : Resolved
Gaurav Sood
(Querist)
03 September 2014
Clause 35(c) requires a company to report - "change exceeding +/-2% of the total paid-up share capital".
However, from the language of Rule 13 of Companies Management and Administration Rules it is not clear whether the change to be reported is "2% of paid up share capital" or "2% of individual shareholding of the respective promoter / top shareholder".
Request comments / guidance of experts/ senior professionals in the matter please.
However, from the language of Rule 13 of Companies Management and Administration Rules it is not clear whether the change to be reported is "2% of paid up share capital" or "2% of individual shareholding of the respective promoter / top shareholder".
Request comments / guidance of experts/ senior professionals in the matter please.
CS Amit Kumar
(Expert)
03 September 2014
Dear Gaurav,
as per expalnation of Rule 13, change means 2 % change in individual change but not of the companys paid up capital.
Explanation.- For the purpose of this sub-rule, the “change” means increase or decrease by two percent or more in the shareholding of each of the promoters and each of the top ten shareholders of the company.
as per expalnation of Rule 13, change means 2 % change in individual change but not of the companys paid up capital.
Explanation.- For the purpose of this sub-rule, the “change” means increase or decrease by two percent or more in the shareholding of each of the promoters and each of the top ten shareholders of the company.
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