Disclsour in MBP-1

[MOHIT SALUJA]

Dear Sir/ Madam

                         Greetings of the Day.

In MBP-1 Form, Directors are required to disclose their interest including shareholding in Column 3 and in Column 4, Date on which interest/ concern arose/ changed.

So my question is:

Q. 1, Mr. A is having shares of Reliance. So does he require to disclose his shareholding concern in such company. In a way, if a Director have shares of a no. of companies say about 100 companies, does he require to disclose about all the companies. Or there is any criteria based like if shareholding more than 2 % then he is required to disclose the same?

Q 2. In column 4, which date is required to mention. Suppose a person is director from the last 10 years holding shares. Does he require to state his appointment date when such interest arose?

 Format of MBP 1 is as follows:

Sl. No.	Names of the Companies /bodies corporate/ firms/ association of individuals	Nature ofinterest or concern / Change in interest or concern	Shareholding	Date on which interest or concern arose / changed

Regards,
Mohit Saluja
Company Secretary
9914558709

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[SRAVS]

refer to sec 184(2),

it is mentioned director holds more than 2%, then he need to disclose his interest/concern.

With Regards

E Sravan Kumar Goud

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[CS Chandru]

Yes. Only if shareholding exceeds 2% of paid up share of Company whose shares are aqcuired require disclosure. 'Interest' refer to more than 2% which was same in earlier Sec 299 as well

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Thanks & Regards

CS Chandrashekhar

+91 9743148312

 

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[sree Lakshmi]

Dear Sir,

But please clarify since Sec 184(1) does not specify about 2% whereas clause 2 of Sec 184 which deals with directors interest in contracts or arrangements expressly mentions 2% criteria. 

Hence doesnt it indicate that under Sec 184(1)  disclosure of interest regarding shareholding in other companies must be made irrespective of less than 2% shareholding?

[csyogan .]

proving that s.184(1) is complied
by taking a declaration u/s. 299(3)

is not at all possible..

regards,
yogan.

On Fri, Apr 25, 2014 at 1:20 PM, Pooja Vanjani <poojav...@yahoo.co.in> wrote:

 

Even i am of the same view. .No need to take again. The disclosure given in March is Valid for next year.

 

 

Thanks & Regards

 

Pooja

On Friday, 25 April 2014 11:39 AM, rameshwar dayal <csrames...@gmail.com> wrote:

 

By the way, great provisions of the companies Act.

If we have taken the disclosure from the director in  companies or firm , in which he is interested,  on the 31st March 2014  under Section 299 which is applicable for the next financial year as well.

And again we are taking the same disclosure from director on 1st April 2014, if the first Meeting held on 1st April, might be format may differ. And director of the company surely asked,  1 day back, i have given the disclosure regarding in which i interested and again  you are asking the same thing..........ridiculous...........

or Ministry of Corporate Affairs will clarify the situation by notification or clarification as they did in past e.g notification or clarification under section 180 and 185 or regard to maintenance of books of accounts and preparations/adoption/filing of financial statements,auditors report, Board’s report and attachments to such statements and reports- Applicability with regard to relevant financial year??????

Thanks and Regards

Rameshwar Dayal

On Thu, Apr 24, 2014 at 1:41 PM, csyogan . <cs.y...@gmail.com> wrote:

 

the provision says first meeting. it doesnt say 'april'
so i think whenever a meeting is held, it is to be taken then & there..

contrary views welcome please !!

regards,
yogan.

On Thu, Apr 24, 2014 at 12:52 PM, MOHIT SALUJA <csmohi...@gmail.com> wrote:

 

Dear All

                         Greetings of the Day.

Please enlighten that As the Board has to take note of the disclosure of interest of Directors in First Board Meeting. So is it necessary to hold the Board meeting month of April or can be taken at a later date

Regards,
CS Mohit Saluja

Mohit Saluja & Associates
Company Secretaries,

2nd Floor, Malhotra Complex, 

Sehdev Market, Jalandhar City,

Punjab-144001
9914558709

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Regards
ACS Rameshwar Dayal
9968076078

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