The Companies Act, 2013 and the rules made there under lays down that every company incorporated under the Act has to maintain statutory Registers.
The registers need to maintain and should be kept up to date at the company’s registered office. Some of registers are required to be kept and provide access to them if demanded by Directors, Members, Creditors and by other person on payment of specified fees.
The Importance of Statutory Registers
Statutory Registers are vital as the companies Act, 2013 that they should be maintained, kept up to date & made available for public access. The registers of members are of particular importance as it that the who are the member of the company and number of shares held by each member.
List of statutory registers to be maintained under the Companies Act, 2013
|FORM NAME||NAME OF REGISTER||
RELEVANT SECTION & RULE
|MGT-1||Register of Members||S.88(1)(a) & R.3(1) OF COS (MANAGEMENT & ADMINISTRATION) RULES, 2014|
|2||MGT-2||Register of Debenture Holders/ Other Securities Holders||S.88(1)(b) & (c) AND R.4 OF COS (MANAGEMENT & ADMINISTRATION) RULES, 2014|
|3||REGISTER||Register of Directors and Key Managerial Personnel and Their Shareholding||S.170 & R.17 OF COS (APPOINTMENT & QUALIFICATION OF DIRECTOR) RULES, 2014|
|4||SH-2||Register of Renewed and Duplicate Share Certificate||S.46(3) & R.6(3)(a) OF COS (SHARE CAPITAL & DEBENTYRE) RULES, 2014|
|5||SH-3||Register of Sweat Equity Shares||S.54 & R.8(14) OF COS (SHARE CAPITAL & DEBENTURE) RULES, 2014|
|6||SH-6||Register of Employee Stock Option||S.62(1)(b) & R.12(10) OF COS (SHARE CAPITAL & DEBENTURES) RULES, 2014|
|7||SH-10||Register of Shares/Other Securities Bought Back||S.68(9) & R.17(12) OF COS (SHARE CAPITAL & DEBENTURES) RULES, 2014|
|8||CHG-7||Register of Charges||S.85 & R.10(1) OF COS (REGISTRATION OF CHARGES) RULES, 2014|
|9||MBP-2||Register of Loans, Guarantee, Security And Acqisition Made By Company||S.186(9) & R.12(1) OF COS (MEETINGS OF BOARDS & ITS POWERS) RULES, 2014|
|10||MBP-3||Register of Investment Not Held In Its Own Name By The Company||S.187(3) & R.14(1) OF COS (MEETINGS OF BOARDS & ITS POWERS) RULES, 2014|
|11||MBP-4||Register of Contracts With Related Party And Contracts And Bodies Etc. In Which Directors Are Interested||
S.189(1) & R.16(1) OF COS (MEETINGS OF BOARDS & ITS POWERS) RULES, 2014
Other Important Books and Registers
- Minutes book
- Books of accounts/ financial statement
- Register/ Directors attendance at Board/ committee meeting
Failure to maintain the register of members could result in the company and its directors being liable for an initial fine plus a further daily fine for each day the company fails to rectify the breach.