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 .

TIA

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Thanks and Regards,
Punam Rajak,
ACS, CA Final, M.Com(F&A), B.Com(F&A)
MOB:8697797773
Bangalore.