Company Law : The Companies Act, 2013 requires companies to maintain registers of members and disclose beneficial ownership. These provisions en...
Company Law : Learn about Section 90 of the Companies Act and its rules on identifying significant beneficial owners (SBOs), including filing Fo...
Income Tax : Understand Section 79 of the Income Tax Act, 1961, concerning loss set-off in closely held companies. Explore judicial interpretat...
Company Law : Two significant provisions under this law are Section 89 and Section 90, which deal with the concepts of Beneficial Interest and S...
Company Law : RoC penalizes LinkedIn India & Samsung Noida for SBO non-disclosure, expanding the interpretation of control under India’s Compa...
Company Law : Learn about latest compliance update from Institute of Chartered Accountants of India regarding Significant Beneficial Ownership r...
Company Law : A massive delay in filing BEN-2 for significant beneficial ownership led to maximum penalties. The authority held that prolonged n...
Company Law : The authority penalized the company for not identifying SBOs despite clear evidence of control and influence. It held that such id...
Company Law : The issue was whether SBO exists without majority shareholding. The authority held that control and influence also determine SBO, ...
Company Law : A company and its directors were penalized under Section 90(11) of the Companies Act for failing to issue notices to Significant B...
Company Law : SRA Systems Limited was not penalized for failing to file Form BEN-2 as the foreign shareholder was dissolved before the complianc...
A massive delay in filing BEN-2 for significant beneficial ownership led to maximum penalties. The authority held that prolonged non-compliance attracts strict penal consequences.
The authority penalized the company for not identifying SBOs despite clear evidence of control and influence. It held that such identification is mandatory under Section 90. The ruling reinforces transparency in ownership structures.
The issue was whether SBO exists without majority shareholding. The authority held that control and influence also determine SBO, making non-disclosure a violation.
The Companies Act, 2013 requires companies to maintain registers of members and disclose beneficial ownership. These provisions ensure transparency in shareholding and identify individuals exercising control.
A company and its directors were penalized under Section 90(11) of the Companies Act for failing to issue notices to Significant Beneficial Owners, emphasizing regulatory accountability.
SRA Systems Limited was not penalized for failing to file Form BEN-2 as the foreign shareholder was dissolved before the compliance date, absolving the company of liability.
Learn about Section 90 of the Companies Act and its rules on identifying significant beneficial owners (SBOs), including filing Form BEN-2 and penalties.
Understand Section 79 of the Income Tax Act, 1961, concerning loss set-off in closely held companies. Explore judicial interpretations of “beneficial ownership” and its implications for corporate restructurings.
Two significant provisions under this law are Section 89 and Section 90, which deal with the concepts of Beneficial Interest and Significant Beneficial Ownership (SBO) respectively. While these terms may seem similar, they address different compliance objectives and disclosure requirements.
Hankook Latex Pvt Ltd penalized for delay in filing SBO disclosures under Section 90 of Companies Act, 2013. MCA imposes fines on key directors.
