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Author Topic: Promoters/Promoters Group  (Read 594 times)

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Offline chissink

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Promoters/Promoters Group
« on: November 17, 2014, 12:56:48 PM »
We have read an article on Promoters/Promoters Group and would like to have advice as in relation with a client of ours where we have difficulty in understanding the (in)direct shareholding.

This concerns a listed company in India and its parent company, also listed in India.

Molade Trust Management (“MTM”) performs services for a subsidiary of the listed company in the Netherlands and has the obligation to identify any individual who (in)directly owns 10% or more of a structure which MTM is performing services for. We have reviewed the latest audited annual accounts of both entities but are unclear about the shareholding as the terminology of “Promoters” is unfamiliar with us.

The Shareholding patterns of both companies mentions a section:
Promoters and shows a percentage: 26,02%
 
Our contact at the company cannot explain who is behind all these legal entities. If for example one (or more) and the same individual is behind these entities he/she would qualify for the 10% compliance threshold. How can we find out who is behind these entities? Is there a register were we can find the information?

Can anybody explain how this works?

 

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