Examine whether Joy will fall under the purview of Significant Beneficial Owner with respect to Zed Ltd. in the following circumstances: Joy holds 9% of equity in Zed Ltd. directly. He is also the Karta of a HUF that hol
CS Executive · Company Law · PYQS · June 2024
Examine whether Joy will fall under the purview of Significant Beneficial Owner with respect to Zed Ltd. in the following circumstances: Joy holds 9% of equity in Zed Ltd. directly. He is also the Karta of a HUF that holds 7% equity in Zed Ltd.
Answer & Explanation:
Joy holds 9% of equity in Zed Ltd. directly. He is also the Karta of a HUF that holds 7% of equity in Zed Ltd. - He is a Significant Beneficial Owner since he holds total 16% equity through indirect and direct holdings.
Topics: Significant Beneficial Owners
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