Under Section 184 Companies Act 2013, a director must DISCLOSE his interest at the first Board meeting in which he participates as director, and thereafter:

1. Section 184(1) Companies Act 2013: 'Every director shall 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, then at the first Board meeting held after such change, disclose his concern or interest in any company or companies or bodies corporate, firms or other association of individuals which shall include the shareholding, in such manner as may be prescribed.' 2. Disclosure is made in FORM MBP-1 (Rule 9 Companies (Meetings of Board and its Powers) Rules 2014). 3. Section 184(2) prohibits a director from participating in discussion of contracts in which he is interested. 4. Violation: imprisonment up to 1 year OR fine Rs 50,000 to Rs 1 lakh OR both. 5. Hence option B is correct. _Source: Companies Act 2013 (Act 18 of 2013), Govt. of India MCA — Companies Act 2013, Section 184; Companies (Meetings of Board and its Powers) Rules 2014 Rule 9_