Regarding company law

This query is : Resolved

RAHUL (Querist)
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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..

CS Adnan Shaikh

CS Adnan Shaikh (Expert)
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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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Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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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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RAHUL

RAHUL (Querist)
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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.

Asha Kanta Sharma online

Asha Kanta Sharma online

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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.

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