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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M/s A Ltd is associate of M/s B Ltd, can M/s B Ltd be declared to be holding company of M/s A Ltd, if not then what term can be used for it?
thank you
Dear Folks,
Greetings!!
M/s S ltd is subsidiary of M/s H ltd, and M/s A Ltd is associate company of M/s S Ltd, Can it be concluded that M/s A Ltd is associate company of M/s H Ltd?
Keenly waiting for Replies,
Thank you
Dear Members
Whether is it mandatory for the Section 8 Company to appoint a whole time Key Managerial Personnel under section 203 of the Companies Act 2013 ?
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Dear Folks,
can anyone guide me if in case of Depository being the registered owner and shareholder being the beneficial owner, is it mandatory to file MGT-5 by the said shareholder( beneficial owner) in each and every case
or is there any exemption regarding it in company Law or any other Act regarding it.
as it would be very hectic to adhere to this compliance considering the volume of transactions which takes place and quantum of shareholding by each shareholder ( beneficial owner)
thanks in advance
As per Section 168, Director to intimate his resignation to the Company, which the Company shall file with ROC in Form DIR?12 in 30 days
? Company to put resignation details on its website and in its
Directors' Report
? Director is also required to send his resignation letter director
to ROC within 30 days in Form DIR?11, along with reasons of
resignation
Form 11 is mandatory to file with ROC ?
company
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Every Company shall paint or affix the name and address of
registered office and keep the same painted/affixed, outside
every office or place in which its business is carried on, in
conspicuous position and legible letters.
What will the Content or details required to get publish in Banner /letterhead/board of any other printing ?
Whether Section 8 Company can carry out micro finance activities?
Click here to view / answer Share it on
Whether the object of a Section 8 Company can extend beyond the state in which its registered?
Click here to view / answer Share it on
If any group Company (private limited company) wants to give or provide corporate guarantee and equitable mortgage of its property in favour of its holding public limited company, is it possible to give the same.
What if both the companies are private limited companies and what are the compliances need to be done ?
Share circular in regard to section 87 condonation of delay for charge creation / modification by MCA
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Hello,
appointment of Company Secretary under section 2(24) is required for Section 8 Companies?
