Increased Transparency for India Inc. —New Beneficial Ownership Rules

29 August 2018
View Debevoise Update
Key takeaways:
  • The Indian government recently issued rules for significant beneficial ownership (“SBO”) disclosures, aligning India’s laws (to some extent) with recommendations of the Financial Action Task Force.
  • The SBO shareholding threshold is pegged at 10% and applies to all types of companies in India. Companies must now maintain SBO registers and make them accessible to their shareholders.