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LIC of India has incorporated a100% subsidiary company with paid up capital of i crore. In order to ensure 7 minimum members for public company, one share of Rs 10/- each were alloted to 6 employees of LIC who acted as nominee shareholder. Two of them are also director of the company. my question is while giving disclosure in MBP-1, is the director required to mention one share held by him in the Company as he has no benificial interest in that share.

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Posted By: Naresh 9 year(s) ago

This question has been closed if you want to answer,you have to re-open.


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Pramod Prabhudesai
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