MCA Introduces New Rules for Significant Beneficial Owners
The Ministry of Corporate Affairs (“MCA”) has via a notification dated June 13, 2018, introduced new rules titled the Companies (Significant Beneficial Owners) Rules, 2018 (“Rules”). The Rules cater to significant beneficial owners, who hold more than 10% shareholding in a company but are not registered as shareholders in the Register of Members of the company. The Rules also introduce a new e-form BEN-1 which is used to declare significant beneficial ownership in a company.
NSDC signs MoU With Singapore e-Government Leadership Centre
The National Skill Development Corporation (“NSDC”) has signed a memorandum of understanding (“MOU”) with the Singapore e-Government Leadership Centre (“eGLC”) in order to foster skill development of India’s workforce. Both the organisations have agreed to work in collaboration to develop and implement programmes which will enable skill development. Their collaboration is also intended to provide vocational training on modern technologies such as artificial intelligence, robotics, and data analytics. eGLC will train selected individuals on the ‘train-the-trainer’ programmes by sharing its expertise in emerging spheres.