Filing of MBP-1

[RAVI SONI]

In case of filing of Form MBP-1 with E-Form MGT-14 in 1st Board Meeting is it necessary to mention the details of the companies which are incorporated outside India in which the director of Indian company is presently having any type of interest(i.e. director or shareholder).

[CAGOPALJI AGRAWAL]

Though not specifically mentioned, but to my view, it should be mentioned to avoid the uncalled litigation.

[CA SOHRABH JINDAL]

Firstly, no need to file copy of MBP-1 with MGT-14. only CTC of BR required to file.

Further It is compulsory to mention details of the companies which are incorporated outside India in which the director of Indian company is presently having any type of interest(i.e. director or shareholder) because section 184 requires disclosures of interest in body corporate also.

AI Summary

Disclosure of Interests: directors must disclose foreign company interests under section 184 when filing board resolutions. A certified true copy of the board resolution is filed with MGT 14 rather than a copy of Form MBP 1, but directors must disclose interests in bodies corporate incorporated outside India; under section 184 details of foreign companies where a director is a director or shareholder should be recorded to meet statutory disclosure obligations.