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abhijit majumder (practicing company secretary)     11 October 2022

Disclosure of interest by directors u/s 184


All the respected senior experts

In a 100% state govt owned company all the directors are mentioned by their designation/post eg Joint secretary of the department, additional secretary of the Deptt. etc. So the  person for the time being holding the post become a  director nominated by the state govt.

One professional told me that such nominee directors are required to submit MBP-1 form( disclosure of interest by the director)

My view is that as those directors all are ex officio and are nominated by the state as directors and they are not entitled any remuneration by way of sitting fees for attending meeting or any other remuneration from the company they are not required to file MBP-1.

Further in my view the term "interest" U/s 184 of Companies Act 2013 means personal interest. But as those directors are only represent Govt of the State as ex officio. the question of declaration u/s 184 (MBP-1) may not arise.

Seeks yours views





 1 Replies

P. Venu (Advocate)     11 October 2022

The posting suggest no legal elements or issues.

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