"Applicability of BEN-2

    Posted By : CS Shiriti / Published on : 24-Jul-2019 09:02 AM / View : 125 / Comment : 0
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    Dear Members,

    Can someone please reply to this ,
    TSV Private Limited

    Shareholding Details:

    1. A (individual) holding 49%

    2. BCD Pvt Ltd holding 51%

    Shareholding of BCD Pvt Ltd

    1. B (individual) holding 50%

    2. C (individual) holding 50%

    But the directors are common in TVS PRIVATE LIMITED AND BCD TVS PRIVATE LIMITED I.e A,B & C.

    Query: Is the provisions of SBO rules applicable in the given case? if yes then the form BEN 1 is to be taken from both B & C? As per my understanding the said rules are not applicable in the given case as there's no majority stake of more than one half holding more than one-half of the equity share capital/voting rights in the body corporate.But in the 1st test BCD PVT. LTD is holding 51 Percent i.e more than half .
    Now is SBO rules Applicable .


    Thanks and Regards,
    Punam Rajak,
    ACS, CA Final, M.Com(F&A), B.Com(F&A)
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