MBP- 1 is an attachment to Spice Form (INC 32) in the event of incorporation of a new company. Form MBP-1 has to be placed in the initial Board meeting of a financial year.
As per Section 184(1) of the Companies Act 2013 read with Rule 9(1) of The Companies(Meetings of Board and its Powers)Rules,2014, every director shall:
The director in default shall be punishable with imprisonment which may extend up to 1 year or with fine which may extend to a maximum of Rs 1 lakh or with both.
All notices shall be kept at the registered office, and it shall be preserved for a period of 8 years from the end of the financial year to which it relates. The custody of the notice shall be with the company secretary or any person authorized by the board.
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