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of <h1>Directors Must Disclose Interests at First Board Meeting and Annually Under Section 184, Companies Act 2013</h1> Section 184 of the Companies Act, 2013 mandates that directors must disclose their interests in other entities at the first Board meeting they attend and annually thereafter. If a director is involved in a contract with a company where they hold significant shares or a managerial role, they must disclose this interest and abstain from participating in related discussions. Failure to disclose renders the contract voidable and subjects the director to penalties. The section exempts contracts where directors hold minimal shares in another company. Amendments have adjusted penalties and conditions for disclosure.
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