BEN Clarification please

    Posted By : Shreya Maheshwari / Published on : 26-Jul-2019 12:09 PM / View : 38 / Comment : 1
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    Dear All,

    In a Private Limited Company, the following is the shareholding;

    Mr. A (individual) - 4.03%
    HUF (Mr. A is Karta) - 27.96%

    Mr. B (individual) - 3.32%
    HUF (Mr. B is Karta) - 13.27%

    Now, will BEN Rules be applicable in both the cases?
    Read more on : please clarification

    • Dear Member,

      Yes, SBO Rules will be applicable in both the cases and Mr. A and B are required to file form BEN-1 as Mr. A and B are significant beneficial owner, as per the explanation to the definition of Significant Beneficial owner and directly or indirectly, they hold more than 10% of the shareholding of the reporting company.

      26-07-2019 / 01:07:33 PM

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