Posted By : Abhilash
/ Published on :
17-Jul-2019 06:57 AM / View :
547 / Comments :
Ankit Ltd. is a Reporting Company, where in AFSL Ltd is holding 18% shares in reporting company.
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now while checking the majority shareholding in AFSL Ltd. we found:-
Individual Holding along with PAC (through relatives) is 35% only i.e below 51%
but there is a Another company Prix ltd. holding 44% Shares in AFSL Ltd. (Note Prix Ltd is a group companies closely held by promoters of Ankit Ltd)
should we consider Indivual +PAC + PRix Ltd. holding for considering majority holding in AFSL Ltd. for considering SBO?
THROUGH THE PROVISION SAYS THAT INDIVIDUALS WHO ARE HOLDING MAJORITY SHALL BE SBO.
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