Dear friends ,

what is the meaning of "By virtue of exercise of significant influence (attach copy of agreement)" .

i have a client which is a private Limited co and it is a 100% subsidiary to a foreign Co. The shareholders of the foreign co are again body corporates registered abroad and 2 individuals. these 2 individuals are holding at holding co level 3 , 11.01% and 12.18% shares.

should we take BEN 1 from these 2 individuals for holding these shares at H 3 Level ? AND

in the Indian Pvt Co, these 2 individuals are directors and one of these 2 is normally the chairman for all board meetings and general meeting/s, Besides there is a whole time director who is a resident in India. so would this attract "By virtue of exercise of significant influence (attach copy of agreement)"

learned members , please share your views of the above.

regards,



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CS. R. Mohan
Mobile: 9908814677