Section 93 of the Companies Act, 2013
Section 93 of the Companies Act, 2013 (as originally enacted) related to the return to be filed with the Registrar in case of change in the number of promoters or top ten shareholders.
📜 Provision (Before Omission):
Section 93 required every listed company to file a return with the Registrar of Companies (ROC) within 15 days of any change in the number of:
Promoters, and
Top ten shareholders (by number of shares held),
as on the close of the financial year.
This return had to be in a prescribed format and manner.
❌ Omission of Section 93:
Section 93 was omitted by the Companies (Amendment) Act, 2017, with effect from 7 May 2018.
The rationale was to reduce regulatory burden and because such information is already disclosed to stock exchanges under SEBI regulations.
✅ Current Status:
No longer in force.
Listed companies now disclose promoter and top shareholder changes under SEBI’s Listing Obligations and Disclosure Requirements (LODR) Regulations instead.
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