Re: Companies Act 2013 - Disclosure of Interest and Notice of Board Meeting Requirementx

[sherry...@gmail.com]

This means that whatever that section prescribes shall be filed in Form MGT-14 and we will have to comply what is prescribed needless is the fact that it is prescribed in rules.

On Wednesday, 23 April 2014 13:58:47 UTC+5:30, vigne...@gmail.com wrote:

Hi..

But Section Section 179 (3) (k) says, any other matter which may be prescribed. 

And Not the Board of Directors of a company shall exercise the power to take note of the disclosure of director’s interest and shareholding.

Please correct me if i am wrong.

V

On Tuesday, 8 April 2014 12:56:59 UTC+5:30, kanchan agarwal wrote:

IMPLEMENTATION OF THE COMPANIES ACT,2013

 

DISCLOSURE OF INTEREST

According to Section 184 of The Companies Act 2013 (herein after referred to as an “Act”) every director is required to disclose his concern or interest in any company or companies or bodies corporate (including shareholding interest), firms or other association of individuals, by giving a notice in writing in Form MBP-1.

Every director shall at the first meeting of the Board in which he participates as a director and thereafter at the first meeting of the Board in every financial year or whenever there is any change in the disclosures already made, then at the first Board meeting held after such change, disclose his concern or interest in any company or companies or bodies corporate, firms, or other association of individuals which shall include the shareholding,

According to Section 179 (3) (k), the Board of Directors of a company shall exercise the power to take note of the disclosure of director’s interest and shareholding.

According to Section 117(3) (g) of the Act resolutions passed in the sub section (3) of section 179 shall be filed with Registrar within 30 days of passing the resolution in Form MGT -14.

 

If a director of the company contravenes the provisions of section 184 of the Act then such director shall be punishable with imprisonment for a term which may extend to one year or with fine which shall not be less than fifty thousand rupees but which may extend to one lakh rupees, or with both.

Thus it is necessary for all the companies to obtain declaration in Form MBP 1 from all its directors and has to file the same with MCA in form MGT 14 within 30 days of the first board meeting in the financial year.

--

Regards
Kanchan Agarwal

[Miss Shanu Bhandari]

Is it necessary for all type of companies?

On 4/24/14, sherry...@gmail.com <sherry...@gmail.com> wrote:
> This means that whatever that section prescribes shall be filed in Form
> MGT-14 and we will have to comply what is prescribed needless is the fact
> that it is prescribed in rules.
>
> On Wednesday, 23 April 2014 13:58:47 UTC+5:30, vigne...@gmail.com wrote:
>>
>> Hi..
>>
>> But Section Section 179 (3) (k) says, any other matter which may be
>> prescribed.
>>
>> And Not the Board of Directors of a company shall exercise the power to
>> take note of the disclosure of director’s interest and shareholding.
>>
>> Please correct me if i am wrong.
>>
>> V
>>
>> On Tuesday, 8 April 2014 12:56:59 UTC+5:30, kanchan agarwal wrote:
>>>

>>> *IMPLEMENTATION OF THE COMPANIES ACT,2013*
>>>
>>> *DISCLOSURE OF INTEREST <http://thecompaniesact2013.com/>*

>>> *Thus it is necessary for all the companies to obtain declaration in Form

>>>
>>> MBP 1 from all its directors and has to file the same with MCA in form
>>> MGT

>>> 14 within 30 days of the first board meeting in the financial year.*
>>>
>>> --
>>> *Regards*
>>> *Kanchan Agarwal*
>>>
>>
>
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