Companies (Significant Beneficial Owners) Rules, 2018

[Chinki Singhal]

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.

[DR.MARIAPPAN GOVINDARAJAN]

Please elaborate your query more.

[Chinki Singhal]

Company A is a holding of Company B.

AI Summary

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.