Disclosure of director's interest

Hi all,

In a board meeting it is possible that only some directors may have a change that they must disclose.

  1. So will two resolutions be reqd, one to take note of those who have no change to declare, and another to take note of those who will declare new interests taken up since the last Board meeting?
  2. Can these two resolutions be done under on item number of the Board meeting?

Regards,

Geetha

Replies (5)

ONE RESOLUTION IS ENOUGH

Agree with Megha. You may consider the item in one agenda "To take note of disclosure of directors shareholding"

Even though there is no change in director's interest they have to give disclosure in MBP-1 in the first board  meeting of the fianancial year. 

Regards,

Arjun Rajagopal

Thank you Megha and Arjun

Regards,

Geetha

Every director shall at the first meeting of the Board in which he participates as a director and thereafter at the first meeting of hte Board in every financial year or whenever there is any change in the disclosures already made, then a the first Board Meeting held after such change, disclose his concern or interest in any company  in form MBP 1.

 

Thus, at every first meeting of the financial year every director need to place their disclosre in form MBP1 which need to be recorded by the board wherether there is change in previsous disclosre or not.

 

In case of change only such director will disclosre revised MBP1 which will be taken note by the Baord.

Thanks Ankur Ji Regards, Geetha

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