Nominees/Representatives of Body Corporate
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
16 June 2010
Please giude me on following queries:-
1) What is procedure for transfer of shares by holding company who holding 100% shareholding of Subsidiary to Nominees/Representatives of Holding Co?
2)Will the name of such Nomeenies appear in the Register of Members of Subsidiary Co?
3) The Director of Subsidiary Co is also nominee of holding company hold shares on behalf of holding Co, allotted shares by Subsidiary Co then what will be total no. of shares held by him? in Statutory Register "Balance Shares held" include both Shares holds as individual capacity & Representative Capacity OR as only individual capacity?
Please reply.
1) What is procedure for transfer of shares by holding company who holding 100% shareholding of Subsidiary to Nominees/Representatives of Holding Co?
2)Will the name of such Nomeenies appear in the Register of Members of Subsidiary Co?
3) The Director of Subsidiary Co is also nominee of holding company hold shares on behalf of holding Co, allotted shares by Subsidiary Co then what will be total no. of shares held by him? in Statutory Register "Balance Shares held" include both Shares holds as individual capacity & Representative Capacity OR as only individual capacity?
Please reply.
17 June 2010
The procedure for transfer will remain the same i.e. using the normal share transfer form.
The names of the nominees will be entered in the Register of Members.
The benefitial interest of the shares are to be kept with the holding company. Hence, necessary declarations under Sec 187C have to be filed in Form 22B with the ROC. Since the benefitial interest is with the holding company, the shareholding of the director will not be counted as his personal holding.
The names of the nominees will be entered in the Register of Members.
The benefitial interest of the shares are to be kept with the holding company. Hence, necessary declarations under Sec 187C have to be filed in Form 22B with the ROC. Since the benefitial interest is with the holding company, the shareholding of the director will not be counted as his personal holding.
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Querist : Anonymous
Querist :
Anonymous
(Querist)
17 June 2010
In the above case will two diffrent Folio Nos. to be allotted to the Director as one for Nominee Shareholding & another for individual Shareholding or only one Folio No?
17 June 2010
Yes. Give two different folio numbers. One for his personal holding and another for the one where he is holding without any benefitial interest,
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