Amendments to Significant Beneficial Ownership Rules
As an update, the Ministry of Corporate Affairs (“MCA”) has vide the Gazette notification dated February 8, 2019 notified the Companies (Significant Beneficial Owners) Amendment Rules, 2019 (“2019 Amendments”) significantly amending the Companies (Significant Beneficial Owners) Rules, 2018 (“SBO Rules”). The 2019 Amendments are in furtherance of MCA’s circular dated September 10, 2018 which stated that in light of the stakeholders concerns, Form No. BEN-1 under the SBO Rules would be revised.
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