Mbp 1

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Querist : Anonymous

Querist : Anonymous (Querist)

20 August 2014 Hello...

What is form MBP 1??
It is compulsory to file every co. form MBP 1 .
Nothing in changes is shares & capital those co. also have to file said form

Pls give me detail procedure related to the filling.

Ankur Garg

Ankur Garg (Expert)
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20 August 2014 Disclosure of Interest by Directors under CA, 2013

As per section 184(1) of Companies Act, Every director shall:

(i.) At the first meeting of the Board in which he participates as a director; and thereafter
(ii.) At the first meeting of the Board in every financial year or
(iii.) 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, in such manner as may be prescribed.

Form MBP.1
As per section 184(1) read with rule 9(1) of Companies (Meetings of Board and its Powers) Rules, 2014, 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 No. MBP 1.

Requirement of filing form MGT.14 for disclosure of interest by Director

As per Section 117(1), certain resolutions and agreements as required by section 117(3) are required to be submitted with ROC through filing form MGT.14. Section 117(3) also refers matter given in section 179(3) are also required to be reported via MGT.14.

As per section 179(3)(k) read with rule 8(5) of Companies (Meetings of Board and its Powers) Rules, 2014, taking note of the disclosure of director’s interest and shareholding shall be done by the Board only by means of resolutions passed at meetings of the Board. Hence it is duty of the company to pass board resolution to take note of disclosure of interest by Director and file a copy of that board resolution in MGT.14. within 30 days of passing board resolution.

Now it is almost established that form MBP.1 regarding disclosure of director’s interest is also required to be attached through form MGT.14 along with copy of resolution passed u/s 184(1). As per my opinion there is no harm in attaching form MBP.1 with MGT.14 along with copy of board resolution though there is no compulsion as far as language of form MGT.14 is concerned.

Thanks

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Querist : Anonymous

Querist : Anonymous (Querist)

20 August 2014 Thanks A lot sir...

One more question

For Form MGT.14 having any filling fees & Penalty ?

Suppose my first board meeting held on 6th April,2014
above case I am liable for any Penalty??

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Ankur Garg

Ankur Garg (Expert)
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20 August 2014 You should have filed form MGT.14 within 1 month of April 06, 2014 along with following attachments:

1. Board resolution for taking note of disclosure of interest
2. Form MBP.1 received from Directors.

If you file form MGT.14 now, you have to pay late fees as per the late fees slabs prescribed by MCA. When you upload form MGT.14 challan will be generated with late fees.

Thanks

Ankur Garg

Ankur Garg (Expert)
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24 August 2014 Kindly revert if you need any other clarification with respect to form MGT. 14 and form MBP.1 read with section 184 of the companies act 2013.

Thanks

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Querist : Anonymous

Querist : Anonymous (Querist)

26 August 2014 Dear Sir,

Suppose my first meeting was 06th may,2014 & my next board meeting on 6th Aug.,2014 its ok??

or Is there any limit of board meeting & Gap of 2 board Meeting.