Disclosure of interest u/s 299

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P.C. Joshi (Querist)
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18 April 2012 Dear Friends,

A director is holding a honarary position of executive vice president in a welfare foundation under ministry of Govt. of India and he also a member of a foreign association.

My query is whether the above director is require to disclose the interest in form 24AA in respect of his position above two entities.

Awaiting for early responses.

Thanks
P.C. Joshi

Ajay Mishra

Ajay Mishra (Expert)
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19 April 2012 Hi

Section 299 deal with disclosure of interest by director about the body corporate or firm, whether directly or indirectly concern or interested.

If your director fall in the above category, then it is required to give details in Form-24AA otherwise no need to give.

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