By Puneet Shah With the rising concerns over misuse of black money in financing illegal activities and with an objective to tackle the issue of benami properties, the recently enacted Companies Amendment Act, 2017 (Amendment Act) has introduced a new definition of term ‘beneficial interest’. Beneficial interest in shares of a company has been defined to mean right to exercise any or all rights attached to such shares; or right to receive or participate in any dividend or other distributions in respect of such shares. The idea seems to track the persons who are ultimately exercising rights over such shares […]
The post ‘Beneficial interest’ is not so beneficial under the Companies Amendment Act
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