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Form mgt-10 - changes in shareholding

This query is : Resolved 
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(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.
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CS Amit Kumar

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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.
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