MCA amends norms for determining significant beneficial ownership

The MCA has notified the Companies (Significant Beneficial Owners) Amendment Rules, 2019 which shall come into force w.e.f. 08-02-2019. The revised norms provides clear definitions for significant beneficial ownership (SBO). The Rules aim to look-through corporate layers to reveal individual shareholders that ultimately derive economic benefits from and/or control a corporate entity in India. The new Rule 2A requires every reporting company to find out if there is any individual who is

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