For Investors other than Individuals or Trusts
If the investor is an unlisted company, partnership firm or unincorporated association
/ body of individuals, the beneficial owners are the natural person/s who are acting
alone or together, or through one or more juridical person and exercising control
through ownership or who ultimately has a controlling ownership interest.
Controlling ownership interest means ownership of /entitlement to:
more than 25% of shares or capital or profits of the juridical person, where juridical
person is a company.
more than 15% of the capital or profits of the juridical person, where the juridical
person is a partnership firm; or
more than 15% of the property or capital or profits of the juridical person, where
the juridical person is an unincorporated association or body of individuals.
In cases, In cases where there exists doubt as to whether the person with the controlling
ownership interest is the beneficial owner or where no natural person exerts control
through ownership interests, the identity details should be provided of the natural
person who is exercising control over the juridical person through other means (i.e.
control exercised through voting rights, agreement, arrangements or in any other
Where no natural person is identified under any of the above criteria, the person
who holds the position of senior managing official shall be provided.
For Investor which is a Trust
In case of a Trust, the settler of the trust, the trustee, the protector and the
beneficiaries with 15% or more interest in the trust or any other natural person
exercising ultimate effective control over the trust through a chain of control
or ownership shall be considered as beneficial owner.
For Foreign Investors
The Know Your Client requirements in case of foreign investors viz. Foreign Institutional
Investors (FIIs), Sub accounts and Qualified Foreign Investors (QFIs) as specified
in SEBI circular no CIR/MIRSD/11/2012 dated September 5, 2012 shall be considered
for the purpose of identification of beneficial ownership of the investor.