When filing Form BEN-2 for our director, the SBO number is already displayed. I raised a ticket to obtain the list but received a response stating that the details are confidential and cannot be disclosed. Is there an alternative method, such as using the Director Identification Number (DIN), to obtain the list of companies associated with it?
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What is the significance of the e Form SPICe for the company incorporation?
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Hello all,
Which date for acquisition significant beneficial interest as required to be entered in BEN-2?
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Hello all,
Whether the Companies should first write to all its shareholders, other than natural persons holding beneficial interest and whose names reflect in register of members, holding more than 10% of shares or exercising significant influence or control over it?
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Hi All,
If a person has been convicted of an offence for a period of 5 years, can such a person become a resolution applicant under the Insolvency and Bankruptcy Code, 2016?
Are there any other eligibility conditions as well to become the resolution applicant?
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Dear Members!
In case of demand of claim by legal heirs or successors under section 124 , what is the significance of transmission process ?
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As per Section: 90. Register of significant beneficial owners in a company
Every individual, who acting alone or together, or through one or more persons or trust, including a trust and persons resident outside India, holds beneficial interests, of not less than twenty-five per cent. or such other percentage as may be prescribed, in shares of a company or the right to exercise, or the actual exercising of significant influence or control as defined in clause (27) of section 2, over the company (herein referred to as “significant beneficial owner”), shall make a declaration to the company, specifying the nature of his interest and other particulars, in such manner and within such period of acquisition of the beneficial interest or rights and any change thereof, as may be prescribed:
Concerned: Companies (Significant Beneficial Owners) Amendment Rules
"majority stake" means;- (i) holding more than one-half of the equity share capital in the body corporate; or (ii) holding more than one-half of the voting rights in the body corporate; or (iii) having the right to receive or participate in more than one-half of the distributable dividend or any other distribution by the body corporate;
“significant beneficial owner” in relation to a reporting company means an individual referred to in sub-section (1) of Section 90, who acting alone or together, or through one or more persons or trust, possesses one or more of the following rights or entitlements in such reporting company, namely: (i) holds indirectly, or together with any direct holdings, not less than ten percent, of the shares; (ii) holds indirectly, or together with any direct holdings, not less than ten percent, of the voting rights in the shares; (iii) has right to receive or participate in not less than ten per cent, of the total distributable dividend, or any other distribution, in a financial year through indirect holdings alone, or together with any direct holdings; (iv) has right to exercise, or actually exercises, significant influence or control, in any manner other than through direct-holdings alone:
For the purpose of this clause, an individual shall be considered to hold a right or entitlement indirectly in the reporting company, if he satisfies any of the following criteria, in respect of a member of the reporting company, namely: - (i) where the member of the reporting company is a body corporate (whether incorporated or registered in India or abroad), other than a limited liability partnership, and the individual, (a) holds majority stake in that member; or (b) holds majority stake in the ultimate holding company (whether incorporated or registered in India or abroad) of that member;
BEN-1: Every individual, who subsequently becomes a significant beneficial owner or where his significant beneficial ownership undergoes any change, shall file a declaration in Form No. BEN-1 to the reporting company, within 30 days of acquiring such significant beneficial ownership or any change therein.
BEN-2: Upon receipt of declaration, the reporting company shall file a return in Form No. BEN-2 with the Registrar within a period of thirty days from the date of receipt of such declaration.
How to determine the SBO ?
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Dear Learned Members,
Please advise on the below query relating to significant beneficial owners:
‘A’ was the Significant Beneficial Owner in the reporting company by virtue of shareholding in the member company and BEN2 was filed in respect of him
Now A has sold all his shareholding in the member company due to which he ceases to be shareholder in the member company. He has given intimation to the reporting company regarding his ceasing to be shareholder in the member company. Member company’s shareholding in the reporting company has not changed.
Query 1 ) How his status will be updated by reporting company now by BEN2?
Query 2 ) Whether 0 % shareholding be filled in BEN2?
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Dear members
for filing the BEN 2 relating to " change in significant beneficial interest" then whether we have to fill only the changes in the shareholding or we have to give the complete data as we had given in the BEN 2 filed originally i.e. "for declaration of Significant Beneficial Ownership under Section 90".
pls confirm.
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Can anyone share the significant accounting policies of a Pvt ltd company dealing in trading of shares, futures options and forward contract?
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can a CA become a partner in an audit firm in India and at the same time can hold the proprietorship of Audit Firm in Nepal Under ICAN Act (Nepal). Any obligation for continuing as a member of ICAI & ICAN at the same time, whether possible or not?
How will the CPE obligation be fulfilled in such a case ?
As per sec-90 significant beneficial owner needs to give the declaration in FORM-BEN-1, who holds more than 10%. my company is a wholly owned subsidiary co. of a foreign company and there is no such individual found who holds more than 10%, in such case senior managing official has to give the declaration. so my question is senior managing official of the reporting entity or the parent co. needs to give the declaration in FORM-BEN-1? Another ques of mine is that there is no such definition of senior managing official given in the section and the rules...so who will be treated as the senior managing official?? '
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