Decide, quoting the relevant provisions, if the following shareholders of Minimum Ltd. fall under the definition of Significant Beneficial Owner : (a) Lakshman holds 12% of the equity share capital in Minimum Limited, as

According to Rule 2(1)(e) of the Companies (Significant Beneficial Owner) Rules, 2018, to be a SBO the name of SBO should not be in the Registered of Member. In this case Lakshman is holding 12% of the equity share capital as a sole shareholder in his own name. Therefore, he does not fall under the definition.