New Reporting Requirements Under India's Company Law

Recently, the Indian government has introduced several new reporting obligations under the Companies Act, 2013 (the "Act") for Indian companies in respect of their registered office address and dealings with micro and small enterprises ("MSEs").  Additionally, the reporting requirements for significant beneficial ownership have been revised.  This update discusses the implications of the new reporting requirements.

Reporting requirements for significant beneficial ownership

In June 2018, the Indian government notified the Companies (Significant Beneficial Ownership) Rules, 2018 (the "SBO Rules") imposing reporting obligations on individuals having significant beneficial ownership in companies (see our update on this at https://www.majmudarindia.com/insight/impact-of-the-new-reporting-requirements-under-indias-foreign-investment-regulations-and-company-law/).  However, the SBO Rules did not provide a great deal of clarity on the nature and extent of disclosure, and