Whether foreign individuals or entities can become partners if the Private Limited Company having the Foreign Promoters is converted into the LLP?
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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,
--
CS. R. Mohan
Mobile: 9908814677
