Disclosure of interest in form 24aa

This query is : Resolved

Shyam Lal Naik (Querist)
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23 June 2012 Whether a director, who has resigned from the Board is required to give notice in form 24AA.

For eg. Company X has 3 directors, namely A, B and C. All of them had given notice in form 24AA on 31/03/11. Director C resigned on 31/08/11. Whether C is required to give notice in form 24AA as at 31/03/2012.

Auditor insisting on the notice from directors, who have already resigned. Please guide?

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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24 June 2012 No director C is not required to give declaration in form 24AA as at 31/03/2012 as he resigned well before that.

Shyam Lal Naik

Shyam Lal Naik (Querist)
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24 June 2012 Thank You Mr. Gupta for your timely reply to this query as well as my query on declaration u/s 274(1)(g).

I have the same view as that of yours on both the questions.

Surprisingly, my auditor, one of the "BIG 4" have a different view.

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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24 June 2012 In my view both these are not required as he is no more the director of the company.

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Disclosure of interest in form 24aa

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