Significant Beneficial Owner declaration

reporting is required where shareholding falls below 10% under sbo rules.

To Ads Further, Section 89 and 90 both are different,while 89 is talking about declaration about Beneficial Interest ,where beneficiary is different then registered owner without any threshold of 10% or something ,the purpose of section 90 is to unveil the individual only who is an ultimate beneficial owner ,and if declaration u/s 89 is given then it will be considered exempted for 90 ,section 90 is for Indirect interest of 10% or more while 89 is for beneficial interest ( which may or may not be individual) ,like In case of WOS Private company , as per law MIN.2 SUBSCRIBER required ,so One Nominee who is holding single shares then he has to make declaration u/s89 because holding on behalf of Holding company ,but in case of section 90 ,any company which is holding 12% in xyz private company ,then majority individual shareholder holding (~>51%) in that company will be SBO...here as definition Control and significant influence will also be covered for SBO declaration