Law Aspire (CS) (755 Points)
09 October 2018Dear All
If the company is a State or Central Government company in which Directors are nominee of Government i.e. they are either IAS, IPS, MP, MLA then do we also have to open the demat account of these persons.
Is there is any exemption provided to the Government Companies for DEmaterialisation of Shares.
Pleae take this matter as urgent
Sriram Santhanam
(156 Points)
Replied 10 October 2018
Law Aspire
(CS)
(755 Points)
Replied 11 October 2018
| Originally posted by : Sriram Santhanam | ||
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As of now no exemption is provided by MCA. However , companies which issues further shares and if shares needs to be transferred then alone Issue of Prospects Rules Mandates a company to issue or transfer shares in dematerialized form. As long as no such issues or transfer does not happen, shares can be continued to held in physical form. |  |
Thanks for reply
In case the hundred percent holding is with Governor and nominess of government, the demat account of nominees position is required to be opened?
Sriram Santhanam
(156 Points)
Replied 11 October 2018
CAclubindia
