Form MBP-1 — Notice of Interest by Director Format (Companies Act, 2013)

Quick Summary: Form MBP-1 is the statutory disclosure of interest under Section 184(1) of the Companies Act, 2013 and Rule 9(1) of the Companies (Meetings of Board and its Powers) Rules, 2014. It is mandatory for every new director to submit Form MBP-1 at the first board meeting attended to disclose directorships, shareholdings, and firm partnerships.

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Who Signs:Signed by the Appointed Director

When Needed / Filed:Submitted at the first Board Meeting attended as a Director; recorded in MBP-4 register

Specimen Format (Complete Text)

Draft template for reference

FORM MBP-1 - NOTICE OF INTEREST BY DIRECTOR FORM MBP-1 Notice of interest by Director [Pursuant to Section 184(1) of the Companies Act, 2013 and Rule 9(1) of the Companies (Meetings of Board and its Powers) Rules, 2014] To, The Board of Directors, [COMPANY NAME], [Registered Office Address] Dear Sir(s) / Madam, I, [Full Name of Director], son/daughter/wife of [Father's/Spouse's Name], resident of [Residential Address], being a Director in the Company, hereby give notice of my interest or concern in the following company or companies, bodies corporate, firms or other association of individuals: 1. Names of the Companies / Bodies Corporate / Firms / Association of Individuals: (a) Name: [Entity Name 1], CIN/Registration No: [______________], Nature of Interest: [Director / Shareholder / Partner], Shareholding (%): [__]%, Date on which interest arose: [DD/MM/YYYY] (b) Name: [Entity Name 2], CIN/Registration No: [______________], Nature of Interest: [Director / Shareholder / Partner], Shareholding (%): [__]%, Date on which interest arose: [DD/MM/YYYY] 2. Details of contracts or arrangements entered into or proposed to be entered into by the Company with any of the entities listed above: [Nil / Describe specific contract or arrangement, if any] I hereby undertake to inform the Company of any change in the above disclosures at the first meeting of the Board held after such change. ______________________ Signature: [Signature of Director] Name: [Full Name of Director] DIN: [________] Date: [Date] Place: [Place]

Common Compliance Mistakes

Waiting until the next financial year to collect MBP-1

Risk: Non-compliance with Section 184(1) and vacation of office risk under Section 167

Correct procedure: Collect Form MBP-1 immediately upon appointment so it is tabled at the very first meeting the new director attends.

Failing to record disclosures in the Section 189 Register (MBP-4)

Risk: Audit observation and MCA adjudication penalties on Company and officers in default

Correct procedure: Promptly enter all entities disclosed in Form MBP-1 into the statutory MBP-4 register maintained at the registered office.

Frequently Asked Questions

When must a newly appointed director submit Form MBP-1?

Under Section 184(1) of the Companies Act, 2013 read with Rule 9(1), a newly appointed director must submit Form MBP-1 disclosing their interests at the VERY FIRST Board Meeting they attend as a director.

Where are MBP-1 disclosures recorded in the company registers?

The disclosures made in Form MBP-1 are read out and taken on record by the Board, and entered into the Register of Contracts or Arrangements in which Directors are Interested (Form MBP-4) under Section 189.

What is the penalty for failure to disclose interest under Section 184?

A director who fails to disclose their interest under Section 184(1) is punishable with a fine of up to ₹1,00,000, and vacates office as a director under Section 167(1)(c) of the Act.

Step 6: Issue Formal Appointment Letter Step 8: Issue General Meeting Notice with Explanatory Statement