On May 1, 2024, Sruja, who owns 3% equity shares in Crown Ltd, was appointed as a director in the Board Meeting. The Company was mainly into manufacturing of plastic products and toys and had commercial agreements and bu

Crown Ltd entered into certain transactions (arrangement/contract) with Chariot Ltd in which Sruja holds 1.5% of the equity capital before her appointment as a director in Crown Ltd. The issue is whether Sruja should disclose her interest in Chariot Ltd. There are two types of disclosures to be made by Sruja. The first disclosure is under Section 184(1) of the Companies Act, 2013 which is a generic disclosure about his concern or interest in any company, body corporate, firm or other association of individuals along with shareholding. This disclosure is made on 3 occasions: a) at the time of her becoming a Director b) at the beginning of every financial year c) whenever there is a change in interest. (Change in shareholding) This disclosure should be done in Form MBP1. Sruja was appointed to the board of Crown Ltd on 1st May 2024 and in the first Board that she is to participate on 20th June 2024, she has to submit this disclosure.