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Register of director interests required, with disclosure duties and inspection rights; non-compliance attracts a prescribed penalty. Companies must maintain registers separately listing particulars of contracts or arrangements in which directors are interested; these registers must be placed before and signed at the next Board meeting, kept at the registered office for inspection and produced at annual general meetings. Directors and key managerial personnel must disclose specified particulars within thirty days of appointment or relinquishment and give necessary written notice at Board meetings. Certain low-value supply contracts and routine banking bill-collection are exempt. Non-compliance by directors attracts a prescribed penalty.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
<h1>Register of director interests required, with disclosure duties and inspection rights; non-compliance attracts a prescribed penalty.</h1> Companies must maintain registers separately listing particulars of contracts or arrangements in which directors are interested; these registers must be placed before and signed at the next Board meeting, kept at the registered office for inspection and produced at annual general meetings. Directors and key managerial personnel must disclose specified particulars within thirty days of appointment or relinquishment and give necessary written notice at Board meetings. Certain low-value supply contracts and routine banking bill-collection are exempt. Non-compliance by directors attracts a prescribed penalty.
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