Compliance Chambers

In Companies Act, 2013, two types of disclosures of interest or concerned are prescribed under Section 184. 1). Disclosure of Interest or Concerned by director under Section 184(1); & 2). Disclosures of Interest by director under Section 184(2). Disclosure of Interest or Concerned by director under Section 184(1): Section 184(1) deals with the disclosure, requirements by each Director, to made at the first meeting of the Board in which he participates as a director and thereafter at the first meeting of the Board in every financial year or whenever there is any change in the disclosures already made, in such manner in Form MBP 1. Disclosure of Interest or Concerned by director under Section 184(2) In compliance with Section 184(2) of the Companies Act, 2013, disclosure of interest by every director who is in any way concerned or interested in a contract or arrangement or proposed contract or arrangement entered into or to be entered into with a bo

On 5th July, 2018 the Ministry of Corporate Affairs notified the amended Companies (Appointment and Qualification) Rules, 2014. With effect of this notification it is mandatory for individuals possessing DIN shall file form DIR-3 KYC w.e.f 10th July, 2018. Rule 11 of the Companies (Appointment and Qualification) Rules states the cancellation or surrender or Deactivation of DIN and as per the amendment in rule 11, it is been renumbered as sub rule (1) of rule 11 and sub rule (2) and (3) are added as mentioned below:- The Central Government or Regional Director (Northern Region) shall deactivate the DIN of all those directors who do not intimate particulars in e-form DIR-3 KYC within time period as per Rule 12A. The deactivated DIN shall be activated only after e-form DIR-3-KYC has been filed along with fees. Rule 12A has been inserted after rule 12 stating that every individual who has been allotted DIN on 31st March of financial year shall file the form DIR-3-KYC on