contained in Wills Ordinance in Srilanka of 1911. In terms of Section 187C of the Companies Act, 1956, a person, who holds beneficial interest ... trust of which, it has no notice. Hence, without compliance of Section 187C of the Companies Act, by late Sri.Gunaratnam, the first respondent cannot
subscribed by Sunair Hotels
Limited.
(iii) No declaration was made under Section 187C of the Companies
Act, that the seven shareholders were nominees of Sunair ... 2008 Page 10 of 38
denying benefit under Section 47(v) of the Act. Section 187C of the
Companies Act is a procedural provision
hereinbelow Section 187C in entirety:
"187C. Declaration by persons not holding beneficial
interest in any share. - (1) Notwithstanding anything
contained in section 150 , section ... save for a change of language in Section
89(8) from the wording of Section 187C(6). While Section 187C(6)
provided consequences
repeal section 153 of the Act though section 153 was very much in the mind of the Legislature at the time when section 187C ... change in the beneficial interest in such shares. Sub-section (4) of section 187C makes it obligatory on the company to make a note
Moreover, section 187C provides that notwithstanding anything contained in section 150 , section 153B or section 187B , if any member of the company does not hold ... reflects the information required under the Act under section 150 read with section 187C , correctly.
8. Learned counsel for the respondent submitted that sections 187A
persons for whose benefit the shares are held. Similarly, sub-section (2) of section 187C of the Act clearly provides that the person ... framed under the enabling provisions of the Act. Similarly, sub-section (3) of section 187C of the Act also provides that whenever there
only
Trustees of the shares of the Company. As per Section 187C (1) , a person
whose name is entered in the register of members ... this purpose, as per the requirements of the provisions of section
187C of the Companies Act, 1956. Learned counsel for the Respondents has
submitted that
April 2008 was fallacious. It is submitted that under Section 187C
(4) of the Act (which was applicable at the relevant time), Form ... date of receipt of the declarations under sub-Sections (1) and
(2) of Section 187C of the Act. In the instant case, the said Form
April 2008 was fallacious. It is submitted that under Section 187C
(4) of the Act (which was applicable at the relevant time), Form ... date of receipt of the declarations under sub-Sections (1) and
(2) of Section 187C of the Act. In the instant case, the said Form
also noticed during inspection that
no return as required under Section 187C of the Act has been filed to the
respondent. Therefore, the company ... prosecuted for
offence under Section 68A of the Act. The petitioner ought to have filed the
declaration under Section 187C of the Act within
