The Department of the Registrar of Companies has issued a final warning to companies that have not submitted their Beneficial Ownership information, saying continued non-compliance could result in legal action, including fines of up to Rs. 1 million and imprisonment of up to 10 years.
In a notice dated October 28, the Registrar General of Companies said the extended deadline of October 21, 2026 has passed and urged all defaulting companies to submit the outstanding information immediately. The original deadline of September 30, 2026 had earlier been extended to October 21.
The notice stated that failing to meet the statutory requirements on Beneficial Ownership is an offence under the Companies Act, No. 7 of 2007, as amended by the Companies (Amendment) Act, No. 12 of 2025. Companies that continue to ignore the requirement could face legal proceedings and penalties, which include a fine of up to Rs. 1 million, imprisonment of up to 10 years, or both, where applicable.
Beneficial Ownership information identifies the individuals who ultimately own or control a company, and is intended to strengthen corporate transparency and accountability.
The Registrar General has asked all affected companies to submit their details and regularise their records without delay through the department’s Beneficial Ownership System, stressing that immediate compliance is mandatory.
