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Meeting Minutes: Disclosure of Interest by Directors

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Akash Jhaveri

Board Meeting
Board Resolution
Compliances
Start & Run Business
Last updated on April 27th, 2021

Directors of the Company have to present Disclosure of his / her Interest in the first Board Meeting of every Financial year in Form MBP-1 and DIR-8. Moreover, It is mandatory for all the directors to submit every year.

The Board in its first Board Meeting of the Financial year has to take the note of the disclosure of interest submitted by the Director and also pass the necessary resolution taking the note on record in a specific format.

Sample: Resolution for Disclosure of Interest by Director in Board Meeting

Resolution for Notice of Disclosure of Interest
Resolution for Notice of Disclosure of Interest
Resolution for Notice of Disclosure of Interest
You can download Resolution for Notice of Disclosure of Interest from here.
Download
Resolution for Notice of Disclosure of Interest
You can download Resolution for Notice of Disclosure of Interest from here.
Download

FAQs

What is disclosure of interest by director?

Every director of a company who is in any way, whether directly, or indirectly, concerned or interested in a contract or arrangement, or proposed contract or arrangement, entered into or to be entered into, by or on behalf of the company, shall disclose the nature of his concern or interest at a meeting of the Board of directors.

When MBP 1 is required to be filed?

Form MBP-1 needs to be placed in the first Board meeting of the Financial Year. Further, the resolution taking note of such declaration (in form MBP-1) needs to be filed with the ROC within 30 days of the board meeting.

What is Section 184 of Companies Act 2013?

Section 184 of the Companies Act, 2013 (the Act) relates to “Disclosure of interest by directors”. The object of Section 184 of the Act is to bring to the notice of the directors the conflict of interest and duty of any of their colleagues on the Board.

Got Questions? Ask Away!

  1. Hey @Siddhartha

    MBP-1 is the disclosure of interest given by the directors of the company. Every director, in the first board meeting he or she participates in, shall submit MBP-1 to the Company.

    You can learn more about other disclosures to be given by the directors here:

    Hope this helps!