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of <h1>LLPs Must Identify Significant Beneficial Owners and Issue Notices per Section 90(5) of Companies Act, 2013</h1> Every reporting limited liability partnership (LLP) must identify any individual who is a significant beneficial owner and ensure they declare this status using Form No. LLP BEN-1. Additionally, if a non-individual partner holds at least ten percent of the LLP's contribution, voting rights, or rights to profits or distributions, the LLP must issue a notice using Form No. LLP BEN-4. This notice seeks information in line with section 90(5) of the Companies Act, 2013, as applicable to LLPs.
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