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1. What is Form BEN-1?

Form BEN-1 is termed as Return to the Registrar in respect of declaration under section 90 who holds and acquires significant beneficial ownership under Section 90 of Companies Act in shares in E-Format. On the date of commencement of companies (significant Beneficial Owners) Amendment Rules,2019 every individual who has a significant beneficial owner in a reporting company, shall file a declaration in Form BEN-1 to the reporting company, within 90 days from such commencement.

2. Why is Form BEN-1 used?

Form BEN-1 is Declaration of Significant Beneficial Ownership where an individual becomes a significant beneficial owner or any change therein happened on the date of expiry within 90 days from the date of commencement of said rule, and the period of 30 days of acquiring such significant beneficial ownership or any change therein.

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