India: Piercing The Corporate Veil – The Companies Amendment Rules, 2019
On 13thJune 2018, the Ministry of Corporate Affairs notified Section 90 of the Companies Act, 2013 (“Act”) and the Companies (Significant Beneficial Owners) Rules, 2018 (“SBO Rules”). Both aim to make transparent a company’s ownership by tracing the identity of the individuals who ultimately control the company.
Over six months later on 8th February, 2019, the Ministry of Corporate Affairs issued the Companies (Significant Beneficial Owners) Amendment Rules, 2019 (“Amendment Rules”). The Amendment Rules have substantially amended the […]