ICICI

Regarding sbo


NISHA AGARWAL (Chartered Accountant)     20 July 2019

NISHA AGARWAL
Chartered Accountant 
 17 likes  421 points

| My Other Post

In the reporting company, there is a company holding less than 10% of the total share capital. An individual has a direct holding of 30% in the reporting company and in the company which holds less than 10% shares, it holds 50% of its shares. Whether it amounts to indirect holding by the individual?

avater

Jatin Bajaj (CS)     20 July 2019

Jatin Bajaj
CS 
 211 likes  2658 points

View Profile | My Other Post

As per section  90 of the Companies Act 2013, read with SBO rules, if any individual is holding the majority shares indirectly in the Company, it is deemed to be considered as indirect holding and if the Shareholder is holding 50 percent of the shares in the Company, then for the better compliance requirement, it is better to file BEN- 2 to the ROC

1 Like
avater

P C Agrawal (Vice President (Corporate))     25 July 2019

P C Agrawal
Vice President (Corporate) 
 822 likes  8060 points

View Profile | My Other Post

No, it is not a case of indirect holding.  Holding in member company should be at least 1 share more than 50%.

 

1 Like
avater

NISHA AGARWAL (Chartered Accountant)     29 July 2019

NISHA AGARWAL
Chartered Accountant 
 17 likes  421 points

View Profile | My Other Post

Originally posted by : P C Agrawal
No, it is not a case of indirect holding.  Holding in member company should be at least 1 share more than 50%.

 

 

 

in case of a subsidiary company, if none of the shareholders in the holding company hold more than 50% of the shares, then apart from reporting the holding company, BEN 1 is required from the shareholders? 

avater

P C Agrawal (Vice President (Corporate))     29 July 2019

P C Agrawal
Vice President (Corporate) 
 822 likes  8060 points

View Profile | My Other Post

In case holding company is not a reporting company (i.e. requiring filing of BEN-2), subsidiary company is not required to select option 'holding reporting company'.

 

BEN-1 will be required by subsidiary company only if there is indirect holding (say through HUF, firm, trust etc.) and indirect holding + direct holding of person concerned is 10% or more and accordingly BEN-2 will have to be filed.

 

1 Like

Leave a reply

Your are not logged in . Please login to post replies

Click here to Login / Register  



Popular Discussion


view more »