| shabanaregisterkaro - Delhi, National Capital Territory of Delhi - Sep 20, 2024 |
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message shabanaregisterkaro about this ad Section 89 of Companies Act 2013 mandates the of beneficial interest in a companys shares. This section is crucial for maintaining transparency in shareholding structures, ensuring that the rightful owners are disclosed, even if they are not the registered shareholders. In essence, it requires individuals or entities holding beneficial interest in shares to inform the company of their interest, while the registered shareholders must also declare if they are holding shares on behalf of someone else. Under Section 89, both the registered owner and the beneficial owner must file with the company in prescribed forms. The company, in turn, is obligated to record this in a register and file returns with the Registrar of Companies (ROC This process helps prevent fraudulent activities and ensures corporate governance. Failure to comply with Section 89 can lead to penalties for both the beneficial owner and the registered shareholder. Understanding and adhering to the provisions of Section 89 of the Companies Act 2013 is vital for businesses aiming to maintain legal compliance and uphold transparency in their . message shabanaregisterkaro about this ad |