11 April 2011
Can any one tell me the legal requirement and procedure required in the followin situation:
1. My Co. is a Whooly owned subsy of a listed Co. now listed co wants disinves its holding(Listed Co. hold 9999 & One Share through its nominee)to Two group Cos equally.
2. Change in beneficial ownership is taking place here we have to require make any disclosure under sec 187C?
12 April 2011
Yes...within 30 days from the date of change in beneficial owners, the Listed Company is required to give a declaration under section 187C(3) to the Company and the Company is required to intimate the same to the ROC in prescribed form within 30 days from the date of receipt of declaration.
CAclubindia
