This is the second of a two part write-up on the Applicability of the Companies (SBO) Amendment Rules, 2019 4. SBO THROUGH INDIRECT HOLDING THROUGH SOME ENTITIES     5. COMPLIANCES AND TIMELINE   Compliances Timeline Reporting Company to independently issue a notice to all members (being non[…]

This is the first of a two part write-up on the Applicability of the Companies (SBO) Amendment Rules, 2019 1. INTRODUCTION AND BACKGROUND With the recommendations of the Financial Action Task Force (working to prevent money laundering, terrorist financing and other related threats), the Government of India has[…]

Introduction Introduced by the Ministry of Corporate Affairs (MCA) by “Active Company Tagging Identities and Verification” (ACTIVE) Rules on 21st February 2019. Rules came into effect from 25th February, 2019. The hidden agenda as it appears is to identify shell Companies. This compliance is considered as Company KYC.[…]