.JPG.png)
The provisions relating to declaration of significant beneficial ownership (“SBO”) were introduced in the Companies Act, 2013 (“Act”) with effect from June 2018, to prevent misuse of corporate...
Published On: 01/05/2016
Authors:
The Reserve Bank of India (the “RBIâ€) notified an amendment to the FEMA 2000 on April 28 2016 by issuing the Foreign Exchange Management (Transfer or Issue of Security by a Person Resident outside India) (Third Amendment) Regulations, 2016 (the “Amendment Regulationsâ€). The Amendment Regulations reflect new proposals laid out in the Start-Up India: Action Plan launched by the Government under a notification issued by the Department of Industrial Policy and Promotion, Ministry of Commerce and Industry, Government of India (the “DIPPâ€) on February 16, 2016 (the “DIPP Notificationâ€).
