05 Nov 2025
The identification of Significant Beneficial Owners (SBOs) in India has become critical with the enforcement of the SBO Rules under the Indian Companies Act, 2013.
Our Partner, Sampath Kumar Rajagopalan, highlights the growing importance of accurately identifying and reporting SBOs in India, especially with the increased RoC scrutiny around SBO related compliances. He talks about how challenges around identifying SBOs in India persist due to varying interpretations across jurisdictions and laws, including between the Indian Companies Act, the SEBI SBO regulations, and the banking regulations governing SBOs in India.
Sampath discusses the importance of understanding SBO influence and control tests in India. He also emphasises the need to balance SBO reporting and personal data privacy concerns, when it comes to disclosures required of SBOs under Form BEN-1 and BEN-2 filing, given SBO penalties for non-compliance.
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