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ARTICLE · 01 NOVEMBER 2023

MCA Notifies Changes Impacting Beneficial Ownership And Dematerialization Rules

The Ministry of Corporate Affairs (MCA) notified certain amendments to rules by separate notifications dated 27 October 2023.

IndiaCorporate/Commercial Law

The Ministry of Corporate Affairs (MCA) notified certain amendments to rules by separate notifications dated 27 October 2023. The MCA notified the following amendment rules in pursuance of the said notifications:

  • The Companies (Management and Administration) Second Amendment Rules, 2023 (MA Rules); and
  • The Companies (Prospectus and Allotment of Securities) Second Amendment Rules, 2023 (PAS Rules).

We have summarized the key amendments in the table below:

Particulars Key Amendments
MA Rules
  • Every company shall designate a person who shall be responsible for furnishing and extending cooperation for providing information to the Registrar or any other authorized officer with respect to a beneficial interest in shares of the company.

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