Company Setup

Understanding the LLP Significant Beneficial Owners Rules 2023

Understanding the LLP Significant Beneficial Owners Rules 2023

Safeguarding Investments: Navigating Restriction on the Transfer of Promoters Shares The Ministry of Corporate Affairs on November 9, 2023, has notified the Limited Liability Partnership (Significant Beneficial Owners) Rules, 2023 (“SBO Rules”). These SBO Rules now obligate LLP’s to ascertain whether an individual qualifies as an SBO. Up until now, only companies were subjected to …

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Investigations in Public Interests and Into Ownership Under Companies Act: An Overview

Investigations in Public Interests and Ownership Under Companies Act

Background Recently, the Ministry of Corporate Affairs (“MCA”) launched an investigation into the affairs of Hero MotoCorp Limited under Section 210(1)(c) read with Section 216 of the Companies Act, 2013 (“2013 Act”). This development makes it germane to understand what these powers entail and the consequences thereof. Necessary In Public Interest Section 210(1)(c) of the …

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