Records provide a sense of regularity and prove as an evidence in the daily lifestyle. Everything is recorded in some way or another and thus it proves the authentication of that activity. With this in mind there was incorporation of Statutory Registers which are maintained by the company. These contain details of the directors, members, shareholders and many other people involved with the company in registers. These differ from country to country.
The Registers made under the Companies Act, 2013 need to maintained and updated with each changing event on a regular basis and should be kept at the Registered Office of the Company. Some of the Registers are to be kept open for inspection by the Directors, Members, and Creditors and by other persons of the company.Also the entries shall be authenticated by the Company Secretary or by any other authorised person by the Board for the purpose. In exercise of the powers conferred under various sections of the Companies Act, Companies (Management and Administration) Rules, 2014 were enacted.Following is the list of registers required to be maintained.
Register of Members(section 88 (1) and Rules of Companies (Management and Administration) Rules: Every company shall, from the date of its registration, keep and maintain a register of its members in one or more books in in FORMNo. MGT.1. under rule 3(1). There shall be a register of members indicating the shares held separately for each class of equity and preference shares residing in or outside India.
Every company which issues or allots debentures or any other security shall maintain a separate register of debenture holders or security holders, as thecase may be, for each type of debentures or other securities in FORMNo.MGT.2. In case of changes made in status of members or debenture holders and any other security holder the same entry shall be made in the respective register.
Index of names inclusion in Registers: Both the aforementioned registers shall include index of the names included therein. Also the register and index of beneficial owners maintained by a depository under section 11 of the Depositories Act, 1996, shall be deemed to be the corresponding register and index for the purposes of the Act.
Foreign Register: If the company is authorised to run its business outside India then in that case it shall maintain a register of Foreign shareholders, debenture holders etc. Also the company shall, within thirty days from the date of theopening of any foreign register, file with the Registrar notice ofthe situation of the office in FORM No.MGT.3 along with the feewhere such register is kept and in the event of any change inthe situation of such office or of its discontinuance, shall, within thirty days from the date of such change or discontinuance, asthe case may be, file notice in FORM No.MGT.3 with theRegistrar of such change or discontinuance. The register shall be in the norms as that of the country and the decision of the appropriate competent authority in regard to therectification of the register shall be binding. It shall be open to inspection and shall be treated as a part of the principle Register.
Register of Renewed and Duplicate Share Certificate: This registers shall be maintain under SH-2 indicating the names of the persons to whom the certificate is issued, the number and date of issue of the share certificate in part of which the new certificate is issued.
Register of Sweat Equity Shares: This Register shall be maintain under FORM NO. SH-3. This register shall also be kept at the registered office of company.
Memorandum of Association and Articles of Associations: These are the foundation stones of the company and provide for the basic objectives and ideas on which the company was laid down therefore they shall be permanently preserved and registered.
Register of Transfer & Transmission: The Company shall maintain Separate Register for Transfer & Transmission of Equity/ Preference Shares (Section – 56).
Register of Employee Stock Option: (Section 62(1) (B) Read with Rule 12): This Register shall be maintained under FORM NO. SH-6.
Register of Security Buy Back: (Section 68(9) read with Rule 17 of Chapter IV) This Register shall be maintained under FORM NO. SH-10.
REGISTER OF DEPOSIT: (Section 73 and 76 read with rule 14 of Companies (Acceptance of Deposit) Rules, 2014- The Company shall maintain register of deposit accepted or renewed.Entry in register shall be made within Seven days from the date of issuance of the receipt duly authenticated by appropriate authority. Register shall be maintain at least Eight year from the financial year in which the latest entry is made in the register. The particulars of the register shall include:
- Name, address and PAN of the depositors
- Particulars of guardian, in case of a minor
- Particulars of the nominee
- Deposit receipt number
- Date and the amount of each deposit
- Duration of the deposit and the date on which each deposit is repayable
- Rate of interest or such deposits to be payable to the depositor
- Due date for payment of interest
- Mandate and instructions for payment of interest and for non-deduction of tax at source, if any
- Date or dates on which the payment of interest shall be made
- Details of deposit insurance including extent of deposit insurance and insurance from http://www.virtualinsuranceservice.com/.
- Particulars of security or charge created for repayment of deposits and any other relevant particulars.
Register of Charge: (Section 85 read with Rule-10 of Company (Registration of charges) Rules, 2014- This Register shall be maintained under FORM NO. CHG-10. This register of charge shall be preserved permanently. The Instrument creating Charge or Modification thereon shall be preserved for a Period of 8 (Eight) Year from the date of Satisfaction of Charge.
The aforementioned are the registers required to be maintained under the Companies Act 2013.
Author: This blog is written by Ms. Anmol Srivastava, student of Damodaram Sanjivayya National Law University, Visakhapatnam, a passionate blogger & intern at Aapka Consultant.
OUR SERVICES
Company Registration I Trademark I Copyright I Patent I GST I MSME
ISO Certification I Website/App Policy I Legal Documentation
Annual Compliance I Connect Consultant
Visit: Aapka Consultant to get Online Services of CA CS & Lawyers.
