Bank of Maharashtra Declaration of Beneficial Ownership (Annexure-IV)
Bank of Maharashtra Declaration of Beneficial Ownership (Annexure-IV) from Download
The Bank of Maharashtra Annexure-IV Form is a statutory declaration used to identify the real human beings (natural persons) who ultimately own or control a non-individual entity (4268ddc8-0… p. 1). It prevents financial crimes like money laundering by ensuring corporate transparency (4268ddc8-0… p. 1).
🏢 1. Applicability & Legal Coverage
This form applies to most non-individual business accounts, excluding publicly traded entities (4268ddc8-0… p. 1).
- Applicable Entities: Companies, partnership firms, trusts, and unincorporated associations or bodies of individuals (4268ddc8-0… p. 1).
- Explicit Exclusions: Does not apply to companies listed on a stock exchange, or any subsidiary company owned by a listed public entity (4268ddc8-0… p. 1).
📊 2. Mandatory Ownership Thresholds
The form forces the disclosure of any natural person holding a significant stake or controlling interest in the organization (4268ddc8-0… p. 1). Ownership triggers are broken down by entity type:
- Companies: Any individual holding more than 25% of capital, profits, shares, or voting rights (4268ddc8-0… p. 1).
- Partnership Firms & Unincorporated Associations: Any individual holding more than 15% of the capital or profits (4268ddc8-0… p. 1).
- Trusts: Any individual holding 15% or more interest in the trust property, capital, or profits (4268ddc8-0… p. 1).
- Alternative Control: Also covers individuals exercising control via voting agreements, structural arrangements, or side pacts (4268ddc8-0… p. 1).
📝 3. Beneficial Owner Information Matrix
A tabular grid maps the personal profile of every qualifying controlling person (4268ddc8-0… p. 1). The required metrics include:
- Personal Metrics: Full legal name, date of birth, and nationality (4268ddc8-0… p. 1).
- Locational & Verification Data: Complete physical address and the specific type of KYC identification documents provided (4268ddc8-0… p. 1).
- Stake Percentage: The exact percentage of controlling ownership interest held in the entity (4268ddc8-0… p. 1).
📑 4. Authorized Signatures & Legal Undertakings
- Change Notification Clause: The entity formally agrees to notify Bank of Maharashtra immediately and without delay if ownership structures or controlling stakes change (4268ddc8-0… p. 1).
- Signing Authority rules: The declaration must be signed by an authorized official (4268ddc8-0… p. 1). Specifically, an active or designated partner must sign for partnerships, and a trustee must sign for trusts (4268ddc8-0… p. 1).
- Branch Verification Block: The bottom panel is explicitly reserved for the Branch Head or Branch Operation Head to certify that they have independently cross-verified the customer’s declarations against public domain data where available (4268ddc8-0… p. 1).
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