Filing of eform mgt14- urgent

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Raj Kumar (Querist)
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01 October 2014 Dear Sir,

I wish to submit that eForm MGT14 is to be filed with MCA for registration of board resolutions relating to approval of financial statements and Board' Report within 30 days of passing the board resolutions u/s 179(3) of the Companies Act,2013.

Clause k of section 179(3) talks about " any other matter which may be prescribed" and refers to additional powers specified by Rule 8 of the Companies(Meetings of Board and its Powers) Rules,2014.

These additional matters specified under Rule 8, inter alia contains one matter "to take note of the disclosure of director's interest and shareholding".

The notice of disclosure of interest and shareholding has to be given by every director to the company in Form-MBP1 and after submission, get the same read in the next Board Meeting.

Therefore, in my view, there will be three ordinary resolutions required to be mentioned in eForm-MGT14, First, Board resolution relating to approval of Financial Statements, Second, Board Resolution relating to approval of Board's Report and third, Board Resolution relating to disclosure of interest & shareholding by all directors in eForm MBP1 and taking the same on record.

My query is that in my case, the company is a private limited company. None directors has any interest and shareholding in any other company/associations and they have given NIL information in Form-MBP1. Since there is no interest & shareholding, is the Board still required to pass the resolution that " RESOLVED that the disclosure of interest and shareholding required to be made u/s 179(3) of the Companies Act,2013 has been made by all the directors in form MBP1 and the same has been taken on record." and report the same in eForm-MGT14. OR since all the directors are not having any interest & shareholding, no board resolution is required to passed and reported in eForm-MGT14.

Kindly do the needful urgently.

Thanks and regards

CA Raj Kumar
Sonipat