MAINTENANCE OF STATUTORY REGISTERS

  • Every company is required to maintain certain statutory registers which are to be kept at the Registered Office of the company.
  • Statutory registers contain crucial information of the company relating to its members, directors, related party transactions, charges, loans, etc.
  • This is a legal requirement and if any company fails to maintain and update the statutory registers, the company and the directors may have to face heavy penalties.

List of Statutory Registers:

  • Register of Members (MGT-1)
  • Register of Debenture holders (MGT-2)
  • Foreign Register of Members, Debenture holders, other security holders or beneficial owners residing outside India (Section- 88 of the Companies Act, 2013) (MGT-3)
  • Register of Significant Beneficial Owners (BEN-3)
  • Register of duplicate or renewed share certificates (SH-2)
  • Register of Sweat Equity Shares (SH-3)
  • Register of Employee Stock Options (SH-6)
  • Register of Shares or Securities which have been Bought Back (SH-10)
  • Register of charge (CHG-7)
  • Register of Directors and KMP
  • Register of loan/security/guarantee/or securities’ acquisition (MBP-2)
  • Register concerning the company’s register not held in its name (MBP-3)
  • Register of contracts with related party and contracts and Bodies etc. in
  • which directors are interested (MBP-4).

Requirements for Register of Members: (Form MGT-1)

  • Personal details like name, address, email id, CIN (in case of company), fathers name, Mother’s name, spouse name, Occupation, PAN, Nationality.
  • Details of membership like date of becoming member, date of cessation, details of nominee, etc.
  • Details of shareholding like date of allotment, date of transfer, share certificate number, distinctive numbers, folio numbers, allotment/transfer number, name of transferee.

Requirements for Register of Charges: (Form CHG-7)

  • Date of Creation of charge, date of modification of charge
  • Date of registration of charge, date of registration of modification of charge
  • Description of the property charged
  • Charge Id
  • Period and amount secured by the charge
  • Name & Addresses of the charge holder
  • Terms and conditions of charge
  • Description of instrument of charge
  • Details of modification of charge
  • Date of satisfaction of charge
  • Reasons for delay, if any in filing for registration of charges

Requirements for Register of Directors and KMP:

  • Personal details of Directors and KMP like Director Identification Number (DIN), PAN number, name, father’s name, mother’s name and spouse’s name and surnames, date of birth, residential address, nationality, occupation.
  • Date of Board resolution in which appointment was made
  • Date of cessation
  • Details of securities held by the Directors and KMP held by them in company, subsidiary and holding company: number and value of securities, mode of acquisition of securities, mode of holding, date of acquisition and price paid.

Requirements for register of loan/security/guarantee/or securities’ acquisition (MBP-2)

  • Date and nature of transaction
  • Name and address of the company to whom loan is given\
  • Amount and duration of loan, purpose of loan
  • Date of passing board resolution and special resolution.
  • Rate of interest, date of maturity.

Register of contracts with related party and contracts and Bodies etc. in which directors are interested (MBP-2)

  • Date of contract, name of party and intrested director, nature of relation, terms and conditions
  • Nature of transaction: arms length basis or not at arms length basis
  • Date of approval by board, Details of voting on such resolution, Date of the next meeting at which register was placed for signature
  • Amount involved, date of shareholders meeting.

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