Sec 299 Form 24AA

Yes, I agree with Mr Ajay.  I would only like to clarify that submission of form 24AA is optional and not mandatory by law.  The director can choose to disclose his interest in any contract which is being approved by the Board in the meeting on case to case basis.  However, it is advisable to obtain general declaration to avoid consequences for not disclosing the interest by oversight in any particular case.

To download sample Form 24AA click the link below:

Sample Form 24AA_Disclosure of Interest by Directors

I what to know in what cases or rather what are the matters to be disclosed by the Directors in Form 24AA (how can we interpret the words "Nature of Interest").

Should the Director disclose his interest in a foreign company also ( like if he holds more than 2% shares in a Foreign Company)

Please help me and provide me the information as to what are the matters that are to disclosed by the Directors and when the directors are liable to disclose.

Regards

Sridevi

where i will get the format of form 24AA U/S 299

hiiii................

Can a private companies purchase the shares of other private company  if such purchase amount to 45 % of capital in the target company. And both the companies have 2 common directors.If yes what disclosures are required by the  company and directors.

Ofcourse a pvt company can purchase shares of other pvt company

All those transactions which are directly or indirectly interested by the directors  

The Form 24 AA will contain the name of teh company, CIN and the nature of interest (like director, secretary...)

The same has to be placed before the board every year

Regards

CS Jithesh

Thank You..........Very much Sir..............................

In Form 24AA, any interest of a director and/or his relatives in companies that exceeds 2% of the stock of such company has to be listed. Since a foreign director of an Indian Pvt co  is not interested to make his interests public, is there another way for him? Kindly suggest.