SUBSTITUTION OF FORM MGT-6 THE MOST NOTABLE CHANGE IN THIS AMENDMENT IS THE SUBSTITUTION OF THE EXISTING FORM MGT-6 WITH A NEW FORM- BENEFICIAL INTEREST

 SUBSTITUTION OF FORM MGT-6 THE MOST NOTABLE CHANGE IN THIS AMENDMENT IS THE SUBSTITUTION OF THE EXISTING FORM MGT-6 WITH A NEW FORM- BENEFICIAL INTEREST

The Companies (Management and Administration) Rules, 2014 In exercise of the powers conferred by sub-sections (1) and (2) of section 469 of the Companies Act, 2013 the Central Government issued Companies (Management and Administration) Rules, 2024.

According to the Amended Rules Form No. MGT-6 shall be substituted in Companies (Management and Administration) Rules, 2014.

Key Changes in the Amendment 1. Substitution of Form MGT-6

The most notable change in this amendment is the substitution of the existing Form MGT-6 with a new form. Form MGT-6 pertains to the return to be filed with the Registrar regarding the declaration of beneficial interest in shares. The revised form is designed to provide more detailed and structured information, facilitating better compliance and transparency.

New Form MGT-6: Detailed Breakdown
1.Corporate Information
Corporate Identity Number (CIN) Name and
2.Registered office address of the company
Email ID of the company
3. Declaration of Beneficial Interest
·    Information on the beneficial owner, including their identification details and the nature of their interest in the company’s shares.
·    Details of the shares held, voting rights, and any other relevant particulars that establish the beneficial interest.
4. Changes in Beneficial Interest
·    Fields for reporting changes in the beneficial interest, including the date of change and updated information on the beneficial owner.
·    Provisions for attaching supporting documents to verify the changes reported.
5. Implementation and Compliance
·    The new form comes into force from the date of its publication in the Official Gazette, making it imperative for companies to promptly adopt the new form and comply with the updated reporting requirements.
·    Companies are required to ensure that all declarations and changes in beneficial interest are accurately reported using the revised Form MGT-6.