Section 21 - Amendment of section 89 - Companies (Amendment) Act, 2017

Amendment of section 89 21. In section 89 of the principal Act,- (i) in sub-section (6), the words and figures, within the time specified under section 403 shall be omitted; (ii) in sub-section (7), for the words and figures, under the first proviso to sub-section (1) of section 403 , the word therein , shall be substituted; (iii) after sub-section (9), the following sub-section shall be inserted, namely:- (10) For the purposes of this section and section 90, beneficial interest in a share includes, directly or indirectly, through any contract, arrangement or otherwise, the right or entitlement of a person alone or together with any other person to- (i) exercise or cause to be exercised any or all of the rights attached to such share; or (ii) receive or participate in any dividend or other distribution in respect of such share. .