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    Shareholding of promoters/non promoters

    Posted By : Ekta / Published on : 24-Oct-2018 05:25 AM / View : 736 / Comment : 2

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    Hi All!

    Kindly guide me on how can we distinguish between the terms "promoter" and "non-promoter" for the purpose of showing their shareholding in Form MGT-7?
    Read more on : promoters promotersnon shareholding

    • Dear Ma'am

      I too have doubt in it, plz rectify if any can

      In my opinion, 

      Directors who have been in possession of the shareholding are said to be Promoters for the MGT-7 and rest are said to be Non- promoter.

      Kindly Clarify for it 

      Hope it would work it out.

      08-02-2019 / 05:59:37 AM
    • How to change promoters ?

      We are planning to remove 2 promoters name out of 5 from the Balance sheet and Form MGT-7, whom we have shown as promoters till date.
      But Section 2(69) says Promoter means -

      (a) who has been named as such in a prospectus or is identified by the company in the annual return referred to in section 92; or

      (b) who has control over the affairs of the company, directly or indirectly whether as a shareholder, director or otherwise; or

      (c) in accordance with whose advice, directions or instructions the Board of Directors of the company is accustomed to act:

      So can we remove the promoter's name from the list of promoters without altering any shareholding of them?

      08-09-2022 / 06:40:50 AM
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