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Disclosure of interest

Pawan Singhal (chartered accountant) (655 Points)

06 December 2011

is Rent paid by pvt ltd. co to it's director req disclose of interest. is it necessary to file form 24aa for disclosure of interest. and same also for director remuneration req disclose of interest by director

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2 Replies

Naresh Patel (C.A. Final) (144 Points)
Replied 06 December 2011

As given in sec. 297 of the cos act, 1956, any contract to be entered with specified person by the co. And such contract is unknown of other directors then only it is necessary to disclose his interest, otherwise not need to be disclosed. Hence, contract for rent might need to be disclosed and contract for appointment might not be required since use of sec 269 it needs more approvals.