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  • CII Naoroji Godrej Centre of Manufacturing Excellence

    Significant Beneficial Ownership (‘SBO’) revolves around a vital concept of tracing out the significant owners of a company. Why is there a need to identify SBO?



    The answer lies in the fact that shareholders are ‘owners’ of a company and they have voting rights which can have an impact on major decisions of the company. The concept of SBO made an impact on the Indian corporate world in 2018. There were undetected beneficiaries behind major shareholdings in various companies in the garb of other shareholders which were posing a threat of hostile takeovers.



    The register of shareholders might have had a formal name against a particular scrip, but the actual beneficiaries were somebody else. This somehow caused a lack in transparency as to knowing who the actual owners of the company were. To combat this situation section 89 & 90 came into play read along with the SBO rules.



    Though this appeared good on paper, the implementation was surrounded by an array of questions.



    There is still a cloud of confusion revolving around the same and the intention behind this webinar is to address those queries revolving around SBO (both conceptual and practical).



    Objectives
    • To provide a holistic understanding of SBO.
    • To understand the practical implementation of the section read along with the rules.
    • To have answers to general issues and queries revolving around SBO.



    Content
      • Concept of SBO – Building clarity around the concept
        • Money laundering – Combating the evil & FATF’s role
        • Various kinds of SBO & how to determine them (direct & indirect)
        • Terminologies – Control, Significant Influence, Majority stake, Reporting Company
        • Illustrations explaining the same
      • Necessity for identifying SBO
      • Declarations, Disclosures, Returns & Register –
        • Which forms?
        • Who is accountable for filing?
        • When to file?
      • Penal provisions
      • In-house queries – depending upon time available (would be preferable if the questions can be sent before-hand)



    Methodology : Presentation (audio-video & ppt) and a detailed pdf document – Conducting the webinar using the power point presentation supported by a document for the attendee’s future reference.



    Take away : Conceptual and practical clarity on matters of SBO in turn allowing better assessment and handling of related issues in the company.



    Target Audience
    • Secretarial Legal Department of Companies
    • Shareholders in general



    Faculty:

    CS Arundhuthi Bose has experience in matters related to compliances and secretarial auditing of various reputed companies. Her forte lies in opinion writing and resolving corporate queries pertaining to Companies Act, 2013, SEBI & FEMA matters successfully. She has successfully deliberated on various company law related topics on esteemed forums and educational institutes like that of the ICSI, MCCI, AIMT, Shrishtikar etc. She has authored over 30 corporate articles and has also been a contributor in corporate books. Her article on Significant Beneficial Ownership has garnered over 3.80 lac views as of date. She has been previously associated with Vinod Kothari & Company (as an Executive) and Mamta Binani & Associates (Partner).
    Founder & Creative Mind of Megrisoft
    www.indiabook.com
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