Govt. has notified Companies (Management and Administration) Amendment Rules
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- Last Updated on 8 April, 2022
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Notification no. G.S.R. 279(E), Dated: 06.04.2022
The Govt. has notified Companies (Management and Administration) Amendment Rules, 2022. As per the amendment rules, a new sub-rule (3) has been inserted into Rule 14 to provide that certain particulars of Registers, Index or Return of a member of a company namely a) Address/registered address (in case of a body corporate) b) e-mail ID c) Unique Identification Number d) PAN Number shall not be made available for inspection. Further, taking extracts or copies under sub-section (3) of Section 94 of the Companies Act 2013 is also not allowed.
As per Section 94 (2) of the Companies Act, 2013, Companies are required to keep registers and their indices open (except when they are closed under the provisions of this Act) for inspection by any member, debenture-holder, another security holder, or beneficial owner, during business hours without payment of any fees and by any other person on payment of such prescribed fees.
Further, Section 94(3) empowers any such member, debenture-holder, other security holder or beneficial owner, or any other person to take extracts from any register, or index, or return without payment of any fee, or require a copy of any such register or entries therein or return on payment of such prescribed fees.
Comments:
Details such as e-mail id, address, PAN, and UID are highly confidential and personal in nature. Open disclosure of the same is prone to misuse. As we see that PAN details are used by miscreants to carry out fraudulent transactions such as obtaining loans, opening bank accounts e.t.c. or carrying out bogus transactions. The amendment is a welcome step and was much needed to protect the privacy of members, debenture holders, etc.
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