Declaration in respect of beneficial interest in any share

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..... in such shares, 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, .....

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..... e liable to a penalty of fifty thousand rupees and 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 .....

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..... beneficial owner, shall be enforceable by him or by any person claiming through 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, dir .....

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..... ide The Companies (Amendment) Act, 2017 Dated 03-01-2018 w.e.f. 07 th May, 2018, before it was read as, within the time specified 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, 2 .....

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..... piry of the time specified 2 [therein], the company and every officer of the company who is in default shall be punishable with fine which shall not be less than five hundred rupees but which may extend 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. .....

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