Verification

Dear Sir,

Hope you are doing well !!

You can check the same with MCA website and ID proofs like PAN/Aadhaar.

We may assist you in verification.

It is advisable to take a phone consultation for detailed discussion.

Hello,

As per the constitution of the business, you can verify the real owners/promoters/partners of a business entity.

E-KYC and IPV can be used for in-person verification.

I hope that this answer satisfies your requirements.

Regards,

CA Hunny Badlani

If its a proprietorship business then you can simply ask for GST certificate and in GST certificate there is a photo of the owner and if its proprietary business the PAN would be that of owner and in PAN card also there is photo of owner.

Hope you find the information helpful if you do please rate it 5 and provide your valuable feedback for my improvement.

Thank you.

Hi

Please ask for form REG-06 i.e. registration certificate under GST. This would contain photograph of the proprietor/partner/authorized signatory.

Hello Sir,

I understand that business prudence would restrict you from directly asking the business owner to establish his identity and credentials. In such a case, you may appoint a CA/Corporate Lawyer to conduct basic due diligence. In such case, the business owner won't feel uneasy since he would just consider it as a part of the acquisition process and his relationship with ypu would not be affected. As a part of due diligence, documents and identity of the business owner can be verified.

In addition to the above, for the sake of completeness, I may suggest you the following:

1. If the business has a corporate structure:

You can know the details of directors of the company from the website of Ministry of Corporate Affairs. While speaking to the Managing Director, if feasible, you may ask for copy of his PAN Card to verify his name and photo. PAN can be verified from the "Know your jurisdictional AO" section on the Income Tax Department's website.

2. If the business is in the form of a LLP:

The details of partners of LLP can be obtained from the website of Ministry of Corporate Affairs and you may repeat the aforesaid process.

3. If the business is a sole proprietorship business:

You may repeat the aforesaid process with PAN of proprietor.

Hope it helps.

Best regards,

CA Yogesh Malpani