Regarding company law
This query is : Resolved
29 April 2015
Hello & Good afternoon everyone,
My query is about disclosure of interest.
I want to know if a director is also a director in two or more other entities/companies and he has filed the form MGT-14 for MBP-1 last year and he is presently the same as last year mentioned entities, then
Is it mandatory to file the same form in current financial year? Please advice..
My query is about disclosure of interest.
I want to know if a director is also a director in two or more other entities/companies and he has filed the form MGT-14 for MBP-1 last year and he is presently the same as last year mentioned entities, then
Is it mandatory to file the same form in current financial year? Please advice..
CS Adnan Shaikh
(Expert)
29 April 2015
This is not required to be filed now as per amendment in rules dated 18.03.2015. The Director have to only make disclosure of interest and Board will take a note of it.
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29 April 2015
If there is no change in the 'interest',then directors need not give MBP-1 again. Inference is from section 184(1).
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01 May 2015
Thanks to all for your reply!
Sir, I also want to know if a director is the director of only one company then, is it necessary to file mgt-14 for mbp-1.
Sir, I also want to know if a director is the director of only one company then, is it necessary to file mgt-14 for mbp-1.
20 July 2025
Is filing MGT-14 necessary in this case?
No, if there is no change in the disclosure (i.e., the director is a director of only one company and there is no new interest or change in interest), filing MGT-14 is not mandatory every year.
MBP-1 is to be filed only when there is a change or a new disclosure to be made.
Just maintaining the disclosure at Board meetings (recorded in Board minutes) suffices for subsequent years if there is no change.
No, if there is no change in the disclosure (i.e., the director is a director of only one company and there is no new interest or change in interest), filing MGT-14 is not mandatory every year.
MBP-1 is to be filed only when there is a change or a new disclosure to be made.
Just maintaining the disclosure at Board meetings (recorded in Board minutes) suffices for subsequent years if there is no change.
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