TMI BlogSignificant Beneficial OwnersX X X X Extracts X X X X X X X X Extracts X X X X ..... Significant Beneficial Owners - By: - hithakar chouta - Corporate Laws / IBC / SEBI - Dated:- 21-7-2018 - - The Ministry of Corporate Affairs, vide its Notification dated 13.06.2018 introduced the Companies (Significant Beneficial Owners) Rules 2018. In nutshell, a Beneficial owner of shares, holding the ultimate beneficial interest of not less than 10% in a Company and whose name is not ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... entered in the register of members of the Company is required to comply with certain formalities as per the above-mentioned rule. Example: H- Holding Company; S -Subsidiary Company In H - Mr. A holds 10% -Mr. B holds 20% -Mr. C holds 30%. Accordingly, in Company S Mr.A, Mr.B Mr.C are Ultimate Beneficial Owners FORMS AND RETURNS TO BE FIL ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ED S. No. Form/Return Purpose 1 BEN-1 Every Significant Beneficial Owner shall file a declaration in Form No. BEN-I to the Company in which he holds the Significant Beneficial Ownership on the date of commencement of these rules within ninety days from such commencement and within ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... thirty days in case of any change in his Significant Beneficial Ownership 2 BEN-2 Company shall file Form No. BEN-2 with the Registrar in respect of declaration, within a period of thirty days from the date of receipt of declaration BEN-1 , along with the fees as prescribed in companies (Registration offices and fees) Rules, 2014 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 3 BEN-3 The company shall maintain a register of significant beneficial owners in Form No. BEN-3 . 4 BEN-4 Company shall give notice seeking information in Form No. BEN-4 . Note : The instruments in the form of global depository receipts, compulsorily convertible preference ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... shares or compulsorily convertible debentures shall be treated as shares for the purpose of determination of significant beneficial ownership. - - Scholarly articles for knowledge sharing authors experts professionals Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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