TaxTMI 
TaxTMI 
If Mr. Gourav has 40% shares in Company A.
Company A has 60% shares in Company B.
Now does Mr. Gourav need to file form BEN-1 to the company B?
What if Company A has 40% shares in company B.
Companies (Significant Beneficial Owners) Rules, 2018
27 Jul 2018 
2 Replies 
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Significant beneficial ownership: whether indirect holders must file form BEN-1 when holding through a corporate intermediary is queried.
Whether an individual holding significant shares in an intermediary company must be treated as a significant beneficial owner of a downstream company and required to file form BEN 1 is queried in two permutations: (1) the intermediary holds a majority stake in the downstream company and (2) the intermediary holds a minority stake. The document contains the query and a request for elaboration but no substantive authoritative response. (AI Summary)
Whether an individual holding significant shares in an intermediary company must be treated as a significant beneficial owner of a downstream company and required to file form BEN 1 is queried in two permutations: (1) the intermediary holds a majority stake in the downstream company and (2) the intermediary holds a minority stake. The document contains the query and a request for elaboration but no substantive authoritative response. (AI Summary)
