Beneficial Ownership: NEITI to sanction defaulters of company registration

“So if the person filling the form puts a wrong name there, we will hold him liable and there will be criminal offences against him for lying and putting the wrong name of somebody who is not the beneficial owner. So it is to fish out those surrogates and to bring out the beneficial owners so that we know who they are, explain how they got their monies to get those licenses. So that is the essence of beneficial ownership." More »