Declarations/Filing to be made by significant beneficial owner (SBO)

[Diksha Gupta]

Good evening

I had a doubt, that which all forms have to be filled and what all declarations have to be made by SBO to the company and company to the Registrar/Tribunal.

Along with this, there are a few BEN forms mentioned, what's the purpose of it.

And what if the concerned person/authority doesn't comply with it.

[DR.MARIAPPAN GOVINDARAJAN]

There are four forms for SBO.

Form BEN - 1 - Declaration by the beneficial owner who holds or acquires significant beneficial ownership on shares.

Form BEN -2 -Return to be filed with RoC by the Company.

Form BEN - 3- Register of significant beneficial owner.

Form BEN - 4 -Notice issued to by the Company.

AI Summary

Significant beneficial ownership compliance: BEN forms require SBO declaration, company register maintenance and Registrar filing.
Obligation to disclose significant beneficial ownership is implemented via four specified instruments: a declaration by the beneficial owner; a company return filed with the Registrar; a company register of significant beneficial owners; and a company notice to elicit information from potential SBOs, each serving respectively to record, report, maintain, and obtain SBO particulars.