Sec 299 Disclosure of Interest by Director

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Aroop Datta (Querist)
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05 April 2010
Does disclosure under Sec 299 by Foreign Directors also include their interest in Foreign companies outside India or is restricted to only Indian companies disclosures.

Kindly let me know as I could not find whether foreign companies interest has also got to be included in the disclousre by Directors.

Ankur Garg

Ankur Garg (Expert)
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07 April 2010 Dear Sir,

Your question is quite genuine. Going by the essence of section 299 disclosure under Sec 299 by Foreign Directors also include their interest in Foreign companies outside India.

According to me we can not restricted disclosure to Indian companies only.

This is my personal opinion. Views of other experts solicited.

Regards

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