Procedure to close the register of members or debenture holders
(i) A company may close their members for register. The register of other security or the holders register of debenture holders . The period is not exceeding in the aggregate 45 days in each year. At any one time it may not exceeding in 30 days for their company procedure. The subject to giving of previous notice of atleast seven days. Such lesser period as may be specified by SEBI for listed companies. The companies which may intend to get their securities listed. In such manner as may be prescribed. Only if your company is a listed company. A company that purports to get its securities listed. The need to give notice to SEBI will arise.
Procedure to close the register of members
(ii) A company closing their members for register.The register of other security or the holders register of debenture holders .The previous notice will given with in seven days. It is specified by SEBI. If such a company is intends to get its securities listed or a listed company. The registered office of the company is situated in Chennai. If it is any of the company is doing their registration in Chennai registered office. Thus the above rule obviously applies only to companies. The company that purport to get their securities listed. No format has been prescribed by SEBI except as stated in the listing agreement. Only if your company falls under the category of a listed company. A company that purports to get its securities listed. This rule will apply for their registration.
(iii) The listed companies have to follow not only the provisions of the 2013 act. Also the covenants contained in the listing agreement.
(iv) In the case of a listed company. The company with its equity shares listed on stock exchanges agree with the stock exchanges. Under the listing agreement that the listed company will not close its transfer books. On such days as may be convenience to NSE for the use of formation of transactions. Which the due notice in advance shall have been given by NSE to the issuer. The private limited company are expected to check with the stock exchanges prior to announcing book closures. In order to away with the concept of book closure for every corporate action. The listed companies announce a record date which is mostly Fridays as on Fridays only depositories release. The position of beneficial owners of all the listed companies.
(v)The listed company agrees with the stock exchanges. The transfer books are closed with this equity listing agreement. It is for the purposes of declaration of dividend in their private limited company. The bonus shares or publish of right or issue of shares for transformation of debentures. The shares arising out of a right attached to debentures. The stock exchange may grant to or need. At least once a year close their transfer books in Annual General Meeting. If they have not been closed at any time during the year.
The stock exchange the notice in advance of at least seven working days. The stock exchange may from time to time moderately impose as many days. The starting dates of closure of its transfer books. Specifying the transfer of books is closed with the purposes. Such notices of copies can send to other stock exchanges in Chennai to accepted. The company that closes their books have to intimate stock exchanges in advance duly informing. The purpose and the period of book closure.
(vi) If your company is a listed company must close their books. Once in a year at the time of AGM. If the books have not been closed. Otherwise for some other purpose. Books for this purpose. It as stated in the listing agreement that cannot share transfer books. The public limited company to resolve their registration in their register office. Obviously it should include registers of members too their procedure.
(vii) The issuer resolves to make that the two book closures has between time gap . The record dates would be at least 30 days.
(viii) The company or whose stocks, derivatives is available. Whose stocks from part of an index on which derivatives are available. It should give a notice period of at least 7 working days to stock exchanges. It’s for corporate actions like mergers, DE-mergers, splits and bonus shares.
(ix) During the period of the book closure. The Private limited company will complete transfer/transmission. Where such request received until the commencement of the book closure. On the date ending of the book closure list of security holders will prepared for being entitled to the dividend. The rights or bonus or other similar purposes for the procedure of company registration.
(x)The issuer will have for registration transfers that are lodged with. The issuer upto the date of closure of the transfer books. Unless the stock exchange agrees will register in clause 12. The issuer will delay for their registration through the transfer of books have reopened. Any transfer which may be received for registration of the transfer books is closure.
(xi) The requirement specified in Rule 10 (1) of the company (Management and Administration) Rules, 2014. It does not apply to a private limited company specified in that. The private limited company served on all members of the notice is not less than 7 days.
(xii) Between Rule 1 and 2, there is obviously an omission that pertains to public limited company. Which are neither listed company not which purport to get their securities listed.
(xiii) The registers and their indices, except when they are closed. Under the provisions of this act for their registrations. The copies of all the returns shall be open for inspection by any member or beneficial owner, other security holder or debenture holder. The business hours without payment of any fees and by any other person on payment of the prescribed fees.
(xiv) The notice as provided in sub-section (1) of section 91 of the 2013 act as the register of security holders or of members or of debenture holders is closed without giving their notice . After giving shorter notice than that is provided for registration. Every officer of the company and the company have a penalty of Rs.5000. For an everyday subject to a maximum of Rs.1, 00,000. Which the register is kept closed.
(xv)The offence is a compoundable offence under section 441 of the 2013 act. If it is any of the company is doing their registration in Chennai registered office. Under the section 91 (2) of the 2013 companies act.