Sec 184 of CA 2013 states that every director shall at the first Board meeting of the Board in every financial year or whenever there is any change in the disclosures already made, then at the first Board meeting held after such change disclose his concern or interest in any company or bodies corporate etc. Rule 9 of Companies (Meetings of Board and its powers) rules state that it is the duty of every director to cause it to be disclosed at the meeting held immediately after the date of notice. Does it imply that the director disclosing his interest in MBP 1 to the Board need not be physically present at the Board meeting? Is it enough that he ensures that the interest disclosure is considered by the Board in its meeting?

Section 184- Disclosure of interest by director.

Posted By: Latha 10 year(s) ago