Key Points
India has revised registration requirements for bidders seeking to participate in public procurement with beneficial ownership in countries that share a land border with the country..
As per the revised format, bidders must provide details of manufacturers, service providers, contractors, and entities providing transfer of technology (ToT) (if different from the bidder) for security clearance..
Name of the company and individual who are the beneficial owner of the bidding company, country of registration, details of intermediary companies between the bidder and beneficial owner, and a chart depicting the link between them also need to be submitted along with full name, date of birth, passport and contact details of board of directors...
The parentage details and holding shares of ToT providing entity have to be submitted with more than 10% shares or having controlling ownership interest or exercising control through means in case of less than 10% shares...
Details in respect of the entity providing ToT include name, type, country of registration, name and details of passport if the holding entity is a person with multiple nationalities, and registered office address.. ( Originally published on May 01, 2023 )..
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Government revises format for registration of bidders from countries sharing land border with India
01, May, 23India has updated its application format for bidders for public procurement to include beneficial ownership details of those in countries that share a land border with India. Bidders now need to provide details of manufacturers, contractors and technology transfer providers, with specifications of sensitive sectors and technologies for security clearances.