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Declaration of Beneficial Ownership for Companies - Letter to Bank

Banker may ask its corporate customers to prove for the beneficial ownership details of the company from time to time, that is to say, the shareholding pattern of the company with name and other important details.

The company should provide the details in writing printed on company letter head, signed by the Managing Director or the Company Secretary or the GM Finance or any other responsible officer and the letter should be duly stamped/sealed.



The important thing here is to be very careful about the figures so mentioned. The calculations should be done perfectly to avoid any error. Because any such errors, even if unintentional, may considered as a fraud from company side.

The following format could be useful in drafting your letter. Modify it as per your requirement.

FORMAT
(to be printed on the letterhead of the company)

Ref: ..................
Date: ................

To
The Manager
(Branch Name)
(Bank Name)

Sub.: Beneficial ownership details of the Company - ........... Limited

Dear Sir,

I/We, the undersigned, hereby furnish the following details of beneficial ownership of our Company i.e. .............. Limited.

1. I/We declare that the following shareholders have controlling or beneficial ownership in our company:

Beneficial ownership declaration by company to bank

Note:
(a) Controlling ownership means ownership by the shareholder of more than 25 percent of shares or capital or profits of the company;
(b) Beneficial ownership means a person having beneficial interest in a share but whose name is not entered in the register of members of a company as the holder of that share.

2. I/We the undersigned hereby declare that our company is listed in the following Stock Exchanges / is not listed in any stock exchange.

(a) Name of stock exchange
(b) Name of stock exchange

This is for your kind information and records.

Kindly acknowledge the receipt.

Thanking you,
Yours faithfully,
For ............... Limited

  signature

(Name of the Officer)
(Designation of the Officer)

Comments

  1. Sailesh Gochhait8/27/2018

    Thanks very much for the format! I was in fact unable to find it anywhere else.

    ReplyDelete
  2. Aiden Lee9/19/2018

    It is also a legal compliance for corporates to report periodically. Thanks for the template!

    ReplyDelete

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