India (IN)

Jurisdiction Overview

IDQuestionAnswer
472 *LO Update: Is the update of information on the identity of legal owners mandatory? Yes
 Data Date: 2017

Notes

 
The Global Forum mentions: "While the Companies Act 1956 does not specifically provide a process for or the timeframe within which changes to the company’s members must be incorporated in the register, s 113(1) obliges companies to issue certificates of shares, debentures or debenture stock within two months of receipt of application for registration of a transfer of shares In practice, issuance of the certificates involves including the new owner information in the share register. [...] Subsequent changes in ownership/shareholding pattern are required to be informed to the registrar through: return of allotments within 30 days of an allotment of shares (s 75); and the annual return (GF 2013: 25). In 2017, the Global Forum did not report changes to these requirements (GF 2017: 33-35).

Sources

GF 2013: 25; GF 2017: 24-26