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Form no. SH 13 Nomination Form Pursuant to section 72 of the Companies Act, 2013 and rule 19(1) of the Companies (Share Capital and Debentures) Rule 2014 To MAP Steel & Power Limited 1, Crooked Lane,.
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Ltd FAQ
A nominee is a company that is nominated to hold assets on behalf of another entity. In early stage investing, the nominee's role is to hold shares in a company on behalf of the underlying investors in the business.
A nominee director is someone appointed by a business owner to act of their behalf. On paper, the nominee takes the role of company director, and they act in place of the company in that jurisdiction. The nominee is responsible for maintaining a company's legal responsibilities.
Stockbrokers prefer nominee accounts because they reduce costs and increase trading efficiency. An investor's shares are legally owned by a stockbroker's non-trading subsidiary or nominee company. The investor is the stock's beneficial owner and has rights over the shares.
The nomination made through Form No. SH-13 will be considered valid if the nomination made by the holder[s] of the shares is registered with the company before the death of the registered holder[s] of the shares.
Nominee shareholder refers to the holder of shares on behalf of another person or beneficial owner or original holder of shares. The nomination is a mandate given by a shareholder to give the legal title of shares to a described person with whom shares shall vest on the death of a shareholder or original holder.
A director nominated by any financial institution in ance with the requirements of any legislation now in effect, or of any agreement, or appointed by any Government, or any other person to represent its interests is defined as a nominee director under Section 149 (7) of the Companies Act, 2013.
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