Beneficial interest declaration required: disclosure and filing obligations with penalties for noncompliance affecting share rights. Persons registered as shareholders who are not beneficial owners must declare the true beneficial owner; beneficial owners must declare the nature of their interest and registered holder particulars. Changes in beneficial ownership must be reported within thirty days. The Central Government may make rules on holding and disclosure. Failures to declare or to file prescribed returns attract fines, continuing daily fines for ongoing defaults, and companies must note declarations in registers and file returns with the Registrar. Rights in shares lacking required declarations by the beneficial owner are unenforceable, while dividend payment obligations remain unaffected.