MCA amends norms for determining SBOs
(Date: 11/2/2019)
The MCA has notified the Companies (Significant Beneficial Owners) Amendment Rules, 2019 which shall come into force w.e.f. 08-02-2019. The revised norms provides clear definitions for significant beneficial ownership (SBO). The Rules aim to look-through corporate layers to reveal individual shareholders that ultimately derive economic benefits from and/or control a corporate entity in India.