Latest Amendments in Significant Beneficial Ownership Recently, the Ministry of Corporate Affairs has brought in amendments in the governing rules of Significant Beneficial Ownership.
Net profit of Rs. 5 Crore or more. or any foreign company who have its branch office or project in India and fulfils the above criteria is also bound to be responsible.
Currently, there are two depositories which registered with Securities and Exchange Board of India (SEBI) and are licensed to operate in India: NSDL (National Securities Depository Ltd.)
NRI stands for Non-Resident Indian, but it can be classified into two categories; A person who does not resides in India but holds an Indian passport A Person of Indian Origin (PIO), a non-resident Indian having a foreign passport.
However, in some cases where the company’s equity is listed, Securities and Exchange Board of India (SEBI) has made it mandatory for them as per the equity listing agreement to maintain a functional and updated website.
These personnel’s are: Whole time director Chief Executing Officer/Manager/Managing Director Chief Financial Officer (CFO) Company Secretary (CS) Any other officer prescribed by the government Who are all eligible for appointing a KMP?