T The practice of cross-shareholding is one of the main issues in corporate governance, particularly within large business groups such as the lippo group. this research aims to examine the structure of cross-shareholding within the lippo group entities by referring to the provisions of law number 40 of 2007 concerning limited liability companies (company law). using a normative legal research approach and a descriptive-analytical method, this study reveals that the cross-ownership between pt lippo karawaci tbk and pt siloam international hospitals tbk potentially contradicts the provisions of article 36 of the company law. this phenomenon not only causes confusion in the presentation of financial statements, but also weakens the independence of corporate decision-making processes and may give rise to conflicts of interest that harm the interests of minority shareholders. based on these findings, the study emphasizes the importance of enhancing the supervisory functions of the financial services authority (ojk) and the business competition supervisory commission (kppu) to ensure the implementation of sound corporate governance principles.furthermore, policy revisions and regulatory improvements are also necessary to close legal loopholes related to cross-shareholding, in order to create a fair business ecosystem that supports national economic growth.