Who is a 'Significant Beneficial Owner' under the Companies Act, 2013? Is Significant Beneficial Owner required to file BEN-1 to the reporting company ?

In terms of Section 90 of the Companies Act, 2013 every individual, who acting alone or together, or through one or more persons or trust, including a trust and persons resident outside India holds beneficial interests, of not less than 25% or such other percentage as may be prescribed, in shares of a company or the right to exercise or the actual exercise of significant influence or control as per as Section 2(27) of Companies Act, 2013, over the reporting company is a significant beneficial owner. Such an individual being the Significant beneficial Owner holding such beneficial interest is required to make a declaration to the reporting company specifying the nature of his interest & other particulars as required. From commencement of the Companies (SBO) Amendment Rules, 2019, every SBO in a reporting company, is required to give the requisite declaration of his beneficial ownership in Form No. BEN-1 to the reporting company within 90 days from such commencement.