Disclosure of interest
This query is : Open
Querist : Anonymous
Querist :
Anonymous
(Querist)
14 May 2015
Hi Experts,
In case of Disclosure of interest by foreign director, is it necessary to disclose his or his relatives shareholdings in a foreign Company.
Is disclosure necessary even if he or his relative holds 1 share?
Please clarify.
Thanks in advance.
In case of Disclosure of interest by foreign director, is it necessary to disclose his or his relatives shareholdings in a foreign Company.
Is disclosure necessary even if he or his relative holds 1 share?
Please clarify.
Thanks in advance.
14 May 2015
No. Form MBP-1 does not require to mention details of relatives.
With regard to shareholding, a director needs to disclose details of his shareholding in a company if he holds 2% or more shares.
With regard to shareholding, a director needs to disclose details of his shareholding in a company if he holds 2% or more shares.
Querist : Anonymous
Querist :
Anonymous
(Querist)
14 May 2015
Thanks for the reply.
Can you please tell me, where it is provided?
Disclosure of holding of more than 2% of shares is required when the director is interested or concerned in a contract or arrangement as per Section 184 (2).
But Section 184 (1), doesn't specifies such percentage of holding.
Please clarify
Can you please tell me, where it is provided?
Disclosure of holding of more than 2% of shares is required when the director is interested or concerned in a contract or arrangement as per Section 184 (2).
But Section 184 (1), doesn't specifies such percentage of holding.
Please clarify
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