Return to be filed with Registrar in case promoters’ stake changes :
Section 93 of the Companies Act, 2013 provides that every listed company shall file a return in the prescribed form with the Registrar with respect to change in the number of shares held by promoters and top ten shareholders of such company, within fifteen days of such change.
According to the Companies (Management and Administration) rules, 2014, every listed company shall file with the Registrar, a return in prescribed form along with the fee with respect to changes relating to either increase or decrease of two percent, or more in the shareholding position of promoters and top ten shareholders of the company in each case, within fifteen days of such change.
As per the Companies (Management and Administration) Second Amendment Rules, 2014 through Notification dated 24th July 2014, changes have been carried out in the Companies (Management and Administration) Amendment Rules, 2014 in Rule 13(Stated above) whereby the words “either value or volume of the shares” is omitted along with the explanation giving meaning of ‘change.’