Chief Executives of Global Companies and Investors Beware! Indian Beneficial Ownership Norms may lead to Penalties

For quite some time now, the company law administration in India has been issuing standard and generic email advisories for compliance with significant beneficial ownership (SBO) provisions under the Companies Act, 2013 (Companies Act) and the Companies (Significant Beneficial Owners) Rules, 2018 (SBO Rules) (as mentioned previously in our Ergo).