Filing of form mbp1

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

02 June 2014 Sir,
Is it necessary for every director to disclose his interest in form MBP1 even if he/she is existing director of the company and he/she is not interested in any contract the company is entring into or has entered into.

C.S. CHANDANI SARUPARIA

C.S. CHANDANI SARUPARIA (Expert)
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02 June 2014 Yes, it is mandatory for every director to disclose his interest in other entities in form MBP 1 . But the section speak about the filing of Board resolution and not the filing of Form MBP 1 with ROC.

Under Section 184, 117 (3) (g) read with Section 179 (3) (k) and rules thereof, it is required to file Board Resolution of taking note of such discloser in form MGT-14.

Regards
Chandani saruparia
CS, LLB, MBA

Querist : Anonymous

Querist : Anonymous (Querist)

02 June 2014 Sir,
If the director does not have any interest in any other entity then also he/she has to give a declaration to that effect stating no interest in any other entity.

CS Premjith

CS Premjith (Expert)
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01 August 2014 Yes. It is necessary. Even if the director does not have any interest in any other entities, a NIL declaration should be placed.

Form MBP-1 needs to be placed in the first Board meeting of the Financial Year.

Further, the resolution taking note of such declaration (in form MBP-1 needs to be filed with the ROC within 30 days of the board meeting.

As CS Chandani clearly said, only the resolution needs to be filed with the RoC.

CS Premjith

CS Premjith (Expert)
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