Beneficial Owner or Partner

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This query is : Resolved

SamSue (Querist)

23 May 2023 Hello! All:

I need your help in understanding the term "Beneficial Owner" in an Indian Partnership company.

I would appreciate it if you can describe the "Beneficial Owner", benefits, and risks to the Partnership firm. If there are any risks, how to mitigate the risks to the Partnership Firm?

Also, if the Partnership Firm is planning to open fixed deposits or raise loans, how does an Indian Bank view the "Beneficial Owner" of this Partnership Firm from a risk management perspective?

Thank you.

Dhirajlal Rambhia

Dhirajlal Rambhia

(Expert)

09 June 2023 Partnership
An individual will be considered to hold a right or entitlement indirectly in the Relevant Company through a partnership, where such individual (a) is a partner; or (b) holds majority stake in the body corporate which is a partner; or (c) holds majority stake in the ultimate holding company of the body corporate which is a partner.

Refer:: 1. https://www.taxathand.com/article/11142/India/2019/Beneficial-ownership-rules-amended#!

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