TMI BlogDeclaration in respect of beneficial interest in any shareX X X X Extracts X X X X X X X X Extracts X X X X ..... es, such person shall make a declaration within such time and in such form as may be prescribed to the company specifying the name and other particulars of the person who holds the beneficial interest in such shares. (2) Every person who holds or acquires a beneficial interest in share of a company shall make a declaration to the company specifying the nature of his interest, particulars of the pe ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nd in case of continuing failure, with a further penalty of two hundred rupees for each day after the first during which such failure continues, subject to a maximum of five lakh rupees. ] (6) Where any declaration under this section is made to a company, the company shall make a note of such declaration in the register concerned and shall file, within thirty days from the date of receipt of decla ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... gh him. (9) Nothing in this section shall be deemed to prejudice the obligation of a company to pay dividend to its members under this Act and the said obligation shall, on such payment, stand discharged. 3 [(10) For the purposes of this section and section 90, beneficial interest in a share includes, directly or indirectly, through any contract, arrangement or otherwise, the right or entitlement ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... under section 403 2. Substituted vide The Companies (Amendment) Act, 2017 Dated 03-01-2018 w.e.f. 07 th May, 2018, before it was read as, under the first proviso to sub-section (1) of section 403 3. Inserted vide The Companies (Amendment) Act, 2017 Dated 03-01-2018 w.e.f. 13-06-2018 4. Substituted vide THE COMPANIES (AMENDMENT) ACT, 2020 dated 28-09-2020 w.e.f. 22-01-2021 before it was read as (5) ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d to one thousand rupees and where the failure is a continuing one, with a further fine which may extend to one thousand rupees for every day after the first during which the failure continues. 6. Inserted vide THE COMPANIES (AMENDMENT) ACT, 2020 dated 28-09-2020 w.e.f. 22-01-2021 - - statute, statutory provisions legislation, law, enactment, Acts, Rules, Regulations, Taxation Tax Management Ind ..... X X X X Extracts X X X X X X X X Extracts X X X X
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