27 November 2013
Director of my company is also a shareholder of another company with which business dealings are going on. Form 24AA for declaration of Interest has been obtained. My query to you is whether any intimation has to be given to MCA or do we just keep the form in our own files.
27 November 2013
The Form 24AA is not required to be filed with MCA. It is a Declaration by the Director which has to be noted at the next Board Meeting and his interest should be kept in mind before any transaction is initiated with an interested party. the director should stay away from discussions in any resolution in which he is interested.
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