Disclosure of interest by director

Dear Expert,

If Director of one Company has been resigned from the post of Director by any reason, and transfer his shares to other member. Now the said Director is also director in another 10 Companies. If  he has given his disclosure of Interest in the first Board Meeting of the Company and that company has take of his not and same filed with the ROC. If he resigned and transfer his shares after filling of resolution in form MGT -14 with the ROC.

Now there are two seperate things, 

1. He has given his Disclosure of Interst and same filed with ROC.

2. Is mandatory to file another disclosure of interest with ROC , after change taksplace.

If we read section 184 of Co.Act 2013, According to me we have to take seperate Disclosure and file with ROC, as Act is trnsactional /event based. Therefore there is change in his interest and he is participating in any first BOD meeting , in that meeting he has to give a Disclosure of Interest.

Kindly correct me if I am wrong on this point.

Thanking You.

 

Replies (4)

It Seems you are right on this aspect.

Yes rachana you are right.........since sec 184 clearly states in case of any change in disclosures already made, then in the first BM after such change has to give a disclosure........

Thank you Mam.

But my query is still open. As you correctly said that, Director has to give his Disclosure of interest in form MBP-1 and BOD has to make note that Directors have given his disclosure of intereset.

Is there need to file another resolution with MCA in form MGT-14 for this disclosure , beacuse they have already  given his disclosure in previous BOD Meeting and Co. had filed  with the ROC. 

If am not wrong Co. has to file another resolution in form MGT 14 with ROC within 30 Days from the BOD meeting. Ref.(Section 117 , 179 (3) and subrule 5 of rule 8 of Companies (Meetings of  Board and its powers ) Rules 2014.

Yes Rachana......the Co. needs to file another mgt 14 for taking note of the disclosure of interest.....

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