Notice by Interested Directors

This query is : Resolved

Megha Gupta (Querist)
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19 January 2009 Is this Compulsory for every Director of the Company to give notice of his interest every year pursuant to sec 299 of Co's Act,1956 or if yes, in which month it is to be given?

Jagruti (CS)

Jagruti (CS) (Expert)
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20 January 2009 Yes, every Director is required to give notice every year u/s 299. Such notice shall be made at the time when any contract or arrangement is entered and read at Board Meeting. But a general notice given, stating the directorship or membership in other body crporate or firm may be sufficient disclosure which shall expire at the end of financial yr (FY)in which it is given and can be renewed every yr by a fresh notice given in last month of the FY in which earlier notice expires.