Stunning Commodities Ltd. gave notice seeking information from Ujjwal (not a member of the Company) whom the company has reasonable cause to believe to be having knowledge of the identity of a significant beneficial owne

As per Section 90(5) of Companies Act, 2013, the Company shall give notice in Form BEN -4 to any person (whether or not a member of the company) whom the company knows or has reasonable cause to believe- to be having knowledge of the identity of a significant beneficial owner or another person likely to have such knowledge; And according to Section 90(7) of the Companies Act, 2013, the company shall- (a) where that person fails to give the company the information required by the notice within the time specified therein; or (b) where the information given is not satisfactory, apply to the Tribunal within a period of fifteen days of the expiry of the period specified in the notice (Form BEN-4), for an order directing that the shares in question be subject to restrictions including: (a) Restrictions on the transfer of interest attached to the shares in question; (b) Suspension of the right to receive dividend or any other distribution in relation to the shares in question; (c) Suspension of voting rights in relation to the shares in question (d) Any other restriction on all or any of the rights attached with the shares in question. In the light of the above Stunning Commodities Ltd. gave notice seeking information from Ujjwal (not a member of the company) whom the company has reasonable cause to believe to be having knowledge of the identity of the Significant Beneficial Owner (SBO) of the Company. It is observed that information given by Ujjwal is not satisfactory. Accordingly, the CEO has to be informed that the company can apply to Tribunal for order direction the shares in question be subject to restrictions.