https://www.taxtmi.com/article/detailed?id=12783 Companies must identify Significant Beneficial Owners by tracing indirect holdings, cross-ownership and effective control through related entities and must use prescribed BEN notices and returns to elicit and record declarations. A company's unilateral conclusion that no individual holds majority shares does not absolve it from investigating indirect or concerted control where board composition, appointments, or cross-holdings indicate human control. The Registrar may invoke penal provisions and require BEN filings where mandated identification and declaration steps are not taken. en-us Wed, 10 Jul 2024 20:03:34 +0530 Wed, 10 Jul 2024 20:03:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=12783 Companies must identify Significant Beneficial Owners by tracing indirect holdings, cross-ownership and effective control through related entities and must use prescribed BEN notices and returns to elicit and record declarations. A company's unilateral conclusion that no individual holds majority shares does not absolve it from investigating indirect or concerted control where board composition, appointments, or cross-holdings indicate human control. The Registrar may invoke penal provisions and require BEN filings where mandated identification and declaration steps are not taken. Articles Corporate Laws / IBC / SEBI Wed, 10 Jul 2024 20:03:34 +0530 https://www.taxtmi.com/article/detailed?id=12783