A UK Ltd (Registered in the UK) was holding 25% holding in B Ltd (registered in India).
Now ownership of A UK Ltd was transferred to C UK Ltd.
Therefore there is an indirect change of beneficiary ownership of B Ltd ( registered in India)
Is there any FEMA filing requirement in RBI by B Ltd or A UK Ltd?
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If one of my individual member hold 5% shares in a company which further holds 90% stake in the other company?
Is there any requirement to file any form?
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Dear Members
Is there any specific requirement to transfer the ownership of section 8 company or just to transfer the share to new members and to appoint new directors and file resignation of old directors.
my second query is two director are enough to incorporate section 8 company??
With Regards
CS Shilpi Soni
+91-9968137076
As per the circular from MCA ,
Significant beneficial ownership is defined as :-
"significant beneficial owner” means an individual referred to in sub-section (1) of section 90 (holding ultimate
beneficial interest of not less than ten per cent.) read with sub-section (10) of section 89, but whose name is not
entered in the register of members of a company as the holder of such shares"
Now the question is if any natural person holds 10% share of the company then he shall be regarded as beneficial owner or not?
(as the definition says SBO are those who have 10% or more interest in company and whose name is not mentioned in the register of member of the company.
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Please clarify When is a Company required to identify Significant Beneficial Ownership (SBO) ?
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