DATE OF MBP-1

[sonam jain]

Dear All,

Kindly throw light on what should be the date of MBP-1??

In other words, Disclosure of interest is to be given as on .........??

[Arvind Kumar]

01-04-2014

[sonam jain]

Dear Arbind,

Please share the source of this information

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[Nagarajan V]

dear Members,

The Disclosure of Interest in Form MBP  1 need to be given by the Directors at the First board meeting held in the first quarter of April, 2014 (In view of the New Companies Act, 2013) and hence the same can be dated as the Board meeting date as the same is adopted at the said Board meeting. 

hence the same can be after 01st April, 2014 and upto 30-06-2014. 

So the companies are required to plan to file Form MGT 14 within 30 days of approval and adoption of the Disclosure of Interest of the Board of directors of the concerned companies. 

Hence the date can vary from company to Company. 

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V.NAGARAJAN
COMPANY SECRETARY
Cell: 099401 11058
New No. 29 Kavarai Street, 
(Near AMR Kalyana Mandapam)
West Mambalam, Chennai 600 033.
Cell: 099401 11058
Ph: 044-4207 7125

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[sonam jain]

Say, the notice date of BM is 12/05/2014 and the first BM is on 22/05/2014, then what should be the date of MBP-1?

[Nagarajan V]

Member

In the present, the same can be the date (for the Form MBP 1) of the Board meeting ie., 22-05-2014

[Sweety Rai]

yes , u can

Bt u have to file form MGT-14 with MBP-1 before 22nd June,2014

   Regards

  Sweety Rai

Divya Jyoti Industries limited

Company secretary & Compliance Officer 

[sonam jain]

Thanks All

[sonam jain]

But as per rule 9(2) of Meetiing of Board Rules, 2014, MBP-1 should be filed immediately after the date of the notice.

9. Disclosures by a director of his interest.-(1) Every director shall 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.

(2) It shall be the duty of the director giving notice of interest to cause it to be disclosed at the meeting held

immediately after the date of the notice.

So, will the date of MBP-1 be 13/05/2014?

[Nagarajan V]

Dear member,

For a sake the date of the MBP 1 can be 13-05-2014, the board resln approving and adopting only is required to be filed in Form MGT 14 and hence the Board meeting date is so relevant in this connection. 

[NEHA ARORA AHUJA]

Dear Members ,
 
Is there any provision in the companies act  2013 that  prevents the company from filling MGT 14 .

 

Thanks & Regards
NEHA  ARORA
 ACS, MBA

[sonam jain]

As per CA 2013, Section 2 (85) 

Small Companies means a company, other than a public company:

 

-whose paid-up share capital does not exceed  Rs. 50 Lac; or

 

-whose turnover as per its last profit & loss account does not exceed Rs. 2 Crore.

 

Benefits to Small Company

A small company may hold only two board meetings in a year, i.e. one Board Meeting in each half of the calendar year with a minimum gap of ninety days between the two meetings. 

Hence on the basis of this facts it may hold its first Board Meeting in September for approval of accounts and then can file disclosure of interest also along with approval of accounts in Only one MGT-14.

So there is no need to file MGT-14 now in first quarter. 

Expert views are invited.

-- 

[P.Bharat Raj]

Ms. Sonam Jain 

Can u pls state the Benefits for Small Company as stated above as per which section of Companies Act,2013.

[sonam jain]

Dear Bharatji,

Its as per section 173(5) of new companies act, 2013

[Ganga Anil Kumar]

Dear Friends,

Why are you talking / mentioning about Quarter. Now according to Section 173 (1) of CA 2013, there need not be a Board Meeting in every quarter, but there shall not be more than 120 days gap between 2 BMs.

Thanking you,

Warm Regards

CS Anil Kumar Ganga | Chennai | India | +91 80082 99901

....................................................................................................................

                                             " Try And Try Till You Succeed"

[Ramaswami Mohan]

companies which were incorporated under CA 1956 were either private limited companies or Public Limited companies,

Now as per CA 2013, There is new category of small companies. So how to get the existing companies incorporated under CA 1956 reclassified as small companies.

Pl share your views,

Regards,

Mohan 

CS. R.  Mohan
Mobile: 9908814677

[MOHIT SALUJA]

Dear Sonam ji, rules are talking that it shall be duty of director giving notice of interest to cause it to be disclosed at the meeting held immediately after the date of notice.

Here the rules not talk about giving notice of Board meeting rather rules talks about giving notice of Disclosure. Hence, disclosure can be given at any time even in month of April and board meeting can be held in June. Hence, date on MBP-1 can be on April 1 till date of board meeting. AND DIRECTOR SHALL cause the interest to be disclosed before board immediately in next board meeting after he has given notice of his interest

Regards,
CS Mohit Saluja

Mohit Saluja & Associates
Company Secretaries,

2nd Floor, Malhotra Complex, 

Sehdev Market, Jalandhar City,

Punjab-144001
9914558709

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[sonam jain]

Thanks a lot Mohitji. 

Finally m convinced that the date of mbp1 can be 01/04/2014.

[csyogan .]

if you observe mbp-1, date col. is given at the signing place. hence the disclosure given above would be on the date of signing of the same. further, if a preceding date is given and if there is a change from the date of signing and date of board meeting, then such changes are also to be disclosed. if he is putting a preceding date, how will this be complied. and, the form is given for the information of the board that he is interested in certain entities etc., what will the directors do by taking note of a historic information. so logically, i opine that the information must pertain to the date on which the board meeting is taking place, and it must be dated on that day and submitted at the board meeting.

regards,
yogan.

[csyogan .]

mohit ji,

what happens if there is a change from the date of notice and date of disclosure
how will director disclose that.. will he wait upto next board meeting..?

regards,
yogan.

[sonam jain]

Every Change in interest has to be disclosed in the BM immediately after such change. That means, it is better to give MBP1 as on BM date.