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Ben-1 declaration


NISHA AGARWAL (Chartered Accountant)     03 September 2019

NISHA AGARWAL
Chartered Accountant 
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What is the declaration to be filed by subsidiary company if its holding company is required to file Form BEN-2?

Chirag (Professional)     04 September 2019

Chirag
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If the Holding Company have Identified SBO, then first get BEN-1 From "Reporting Holding Company "[BEN-1 Which is Recieved By Holding Company] as an attachment to BEN-2 by Subsidiary company,and In BEN-2 give details of Holding Reporting company....

So, Declaration Received by Holding Reporting company shall be used by subsidiary company also in BEN-2

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NISHA AGARWAL (Chartered Accountant)     20 September 2019

NISHA AGARWAL
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A Private Limited company is a subsidiary of a public limited company and a holding company of a pvt ltd company. How is the BEN form to be filed in this case?

Chirag (Professional)     20 September 2019

Chirag
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Assume as per your query, Three companies ABC PVT LTD, ABC LTD &XYZ PVT LTD, Now For XYZ PVT LTD ---ABC PVT LTD is holding Company and ABC LTD is Ultimate Holding Company, In this case you need to check who is majority stakeholder Of more than 51% in ABC LTD, here XYZ & ABC PVT LTD both will File BEN-2 with attachment of BEN-1 Received by ABC LTD (ultimate holding company) .....

Example - Mr. A is a promoter of ABC limited, He holds 51% Stake in ABC limited ,Now ABC Ltd holds 51% Stake in ABC Pvt Ltd. and in turn ABC pvt ltd holds 51% Stake in XYZ pvt ltd, here the situation of SBO's are as followed :-

Reporting Entity. SBO
ABC LTD. MR. A
ABC PVT LTD. ABC LTD
XYZ PVT LTD. ABC PVT LTD

Now, ABC ltd will not file any BEN -2 because MR. A has direct holding, ABC PVT LTD being a reporting holding company will file BEN -1 with details of MR. A(Hodling majority stake in ABC LTD) & XYZ PVT LTD will also use same BEN-1 which is recieved to it by ABC PVT LTD.

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NISHA AGARWAL (Chartered Accountant)     20 September 2019

NISHA AGARWAL
Chartered Accountant 
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Originally posted by : Chirag
Assume as per your query, Three companies ABC PVT LTD, ABC LTD &XYZ PVT LTD, Now For XYZ PVT LTD ---ABC PVT LTD is holding Company and ABC LTD is Ultimate Holding Company, In this case you need to check who is majority stakeholder Of more than 51% in ABC LTD, here XYZ & ABC PVT LTD both will File BEN-2 with attachment of BEN-1 Received by ABC LTD (ultimate holding company) .....Example - Mr. A is a promoter of ABC limited, He holds 51% Stake in ABC limited ,Now ABC Ltd holds 51% Stake in ABC Pvt Ltd. and in turn ABC pvt ltd holds 51% Stake in XYZ pvt ltd, here the situation of SBO's are as followed :-Reporting Entity. SBOABC LTD. MR. A ABC PVT LTD. ABC LTD XYZ PVT LTD. ABC PVT LTD Now, ABC ltd will not file any BEN -2 because MR. A has direct holding, ABC PVT LTD being a reporting holding company will file BEN -1 with details of MR. A(Hodling majority stake in ABC LTD) & XYZ PVT LTD will also use same BEN-1 which is recieved to it by ABC PVT LTD.

 

THANK U SO MUCH..

Chirag (Professional)     20 September 2019

Chirag
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Welcome... however, I forgot to mention in my reply that Indirect Holding Of MR. A in ABC Pvt ltd is (His holding In ABC LTD x ABC Ltd holding in ABC PVT LTD ),which is 51%x 51% comes to 26.01% and Holding In XYZ pvt ltd is 26.01%x51% which will be 13.27% ( ie. More than Prescribed limit of 10% Indirect holding)


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