Mbp 1

Hi,

The responsibility of filing MGT 14 is of the Company.....holding of even 1 share is required to be disclosed...

For the form format, check the files section in this site.....

Dear Suriender,

I would like to rectify my earlier answer to your query  i.e.

"Yes...because sec 184 says if director holds more than 2% or is a director, member or promoter of other company, then director require to give disclosure in MBP-1". 

Read more at: /forum/details.asp?mod_id=292729#.U4QiTHKSzp8" 

Accordingly, as per sec 184 Director is require to give disclosure in MBP-1 at following intervals :

i) Annual Disclosure

ii) When any change happens in disclosure already made.

ii) If Director becomes interseted after the contract/ arrangment is entered.

In both cases, at first BM held after such event.

Where Director of a Company is directly or indirectly concerned or interested in a contract or arrangement entered or to be entered into ,   

Eligbility criteria

Situation 1 : With a Body Corporate: Where such Director  or alongwith any other Director holds more than 2% or is a Promoter, Manager CEO of that body Corportae.

Situation 2: With a Firm or Other Entity: in which such Director is a Partner/ Owner/ Member.

Prohibition 

Such Director cannot particiapte in such meeting.

Exemption

Where such director along with any other Director does not hold more than 2% in other Company. 

And particulary in your case since your Director holds only 1 share, so your Director need not to give disclosure in MBP-1. 

Regards

Shilpa

FORM MBP-1 IS MANDATORY FOR ALL DIRECTORS INCLUDING MANAGING DIRECTOR IN COMPANY?

Yes, MBP.1 is mandatory for all directors and KMPs.  However, what is required to be attached with MGT.14 is only Board resolution and not MBP.1.  We must appreciate that contract register (in which details from MBP.1 are recorded) is open for inspection only to members and not to public at large and hence its filing is not required.  Internal document of the  company should not be made public by filing with MGT.14.

THANKYOU TO ALL.