The Ministry of Corporate Affairs (MCA) by its notification dated June 13, 2018, had notified the Companies (Significant Beneficial Owners) Rules, 2018 along with Section 90 of the Companies Act, 2013 as amended by the Companies Amendment Act, 2017 to identify benami transactions and prevent money laundering activities. The main objective for notifying the said provisions is to lift the corporate veil and determine the person who have a significant ownership in the company and controlling the management and day to day affairs of the company.
PE-PC-KEY-HIGHLIGHTS-OF-COMPANIES-SIGNIFICANT-BENEFICIAL-OWNERS-AMENDMENT-RULES-2019-FEB-2
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