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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: 08/03/2019
Authors:
Pallavi Kanakagiri
Khusnuma Nagwaswalla
Suvarna Swain
The recently-introduced Companies (Significant Beneficial Owners) Amendment Rules, 2019, have been published in the Official Gazette. They have been introduced to identify individuals who have a significant holding or interest in a corporate entity, and to bring clarity to the previous rules. INDUSLAW’s Pallavi Kanakagiri, Khusnuma Nagwaswalla and Suvarna Swain discuss their key features and their possible impact.
