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Section 187B & C of the Companies act, 1956

Ronak (Trainee) (126 Points)

07 January 2011

Hi,

Are there any recent amendments made w r t section 187B & 187C of the Companies Act, 1956. We are holding shares in trust. What will be the provisions applicable to us?

Rgds,

Ronak

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3 Replies

Jaideep (Service) (1368 Points)
Replied 07 January 2011

Dear Ronak,

No need to comply Section 187B and 187C. Please find attached rules. which are redudant from 2003.

For your further clarification, Shares can be held in the name of trust if it is registered under Bombay Trust Act or Socities Registration Act, this was clarified by DCA in 1956.

Regards

Jaideep Pandya

Attached File : 39 declaration of beneficial interest rules companies act.pdf downloaded: 225 times

Ronak (Trainee) (126 Points)
Replied 07 January 2011

Thans Jaideep for ur quick assistance. ... But is d provision not applicable even in case of a private trust? If Yes, which forms have to be filed with ROC.

Jaideep (Service) (1368 Points)
Replied 07 January 2011

If shares in respect of which the person whose name is entered in the register of members of the company as a holder of shares, does not hold the beneficial interest in such shares.

You need to upload for 22B. Available on MCA portal.

Regards