Board Resolution: Disclosure of Interest by Directors (MBP-1)
Record at a board meeting that each director has disclosed their interest in other companies, firms and bodies in Form MBP-1.
What it is
Under Section 184(1) of the Companies Act, 2013, every director discloses their concern or interest in any company, body corporate, firm or other association, including shareholding, in Form MBP-1. The disclosure is made at the first board meeting in which the director participates, at the first meeting of every financial year, and whenever there is a change. The board takes note of the disclosures and the company keeps them on record.
When it is used
- First board meeting of each financial year.
- When a new director joins the board.
- When a director's interests change.
What the template covers
- Company name, CIN and meeting details
- Directors who submitted MBP-1
- Financial year
- Taking note of the disclosures
- Entry in the register of contracts
- Signature of the chairman
Details you will need
The generator asks for the following. Fields marked with an asterisk in the form are required; the rest can be left blank and filled in later in Word.
Company
Company Name; CIN; Registered Office
Meeting
Board Meeting Date; Place
Directors
Directors who submitted MBP-1: Director Name, DIN, Date of MBP-1 Submission
Authentication
Financial Year; Chairman Name; Chairman DIN
Stamp duty, registration and filing
A director interested in a contract or arrangement must disclose it at the meeting where it is discussed and not participate (Section 184(2)). Contracts are entered in the register in Form MBP-4. Failure to disclose is punishable. The disclosures are also relevant for related party approvals under Section 188.
Generate the BR — Disclosure of Interest by Director (MBP-1)
Fill in the form and download the draft as a Word file. It is a general template, not legal or professional advice; have it reviewed for your facts before you sign or rely on it.
Need this checked against your facts, or the registration or filing that follows (e.g. the related MCA e-form)? Contact SKAG and Associates
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Frequently asked questions
How often is MBP-1 given?
At the first board meeting of every financial year, at the first meeting a director attends, and on any change.
Is MBP-1 filed with the ROC?
No. It is kept by the company.
Does a director need to disclose a relative's interest?
The Act requires disclosure of the director's concern or interest; related party rules separately cover relatives.
This page gives general information for reference only. Laws, stamp duty rates and filing requirements change and differ between States, so confirm the current position for your case. Related: all document templates · free tax calculators · compliance calendar and guides.