As per the Companies Act 2013, there are various registers which is required to maintain by every company and that report shall be kept in the registered place of business either in hard copy or in soft copy. Thus, in this article we shall discuss about the members who are listed as the Statutory Registers as per the company law provisions.
What Is Statutory Registers As Per Company Law?
Statutory registers refer to the official records that companies are required to maintain as per company law. These registers contain important information and details about the company, such as its directors, shareholders, members, and other key personnel.
Maintaining these statutory registers is important to ensure compliance with the law and to provide transparency and accountability to the company’s stakeholders.
Here is a detailed description of the statutory registers as per the company law provisions:
In particular, the following statutory registers are required to be maintained by a company under the Companies Act, 2013 (in India):
- Register of Members: This register contains details of all the members of the company, including their names, addresses, and the number of shares held by them. This register must be updated whenever there is a change in membership.
- Register of Directors and Key Managerial Personnel (KMP): This register contains details of all the directors and KMP of the company, including their names, addresses, and other relevant details. Any change in the appointment, resignation or removal of a director or KMP must be updated in this register. This register is used for inspection in every annual general meeting of the company and it should be available to every person who is attending the meeting.
- Register of Charges: This register contains details of all the charges created by the company, including the nature and amount of the charge, the property or assets charged, and the name of the charge holder. Any creation, modification, or satisfaction of a charge must be updated in this register.
- Register of Loans, Investments, Guarantees, and Security: This register contains details of all the loans, investments, guarantees, and security provided by the company, including the name of the party involved, the amount, the terms and conditions, and the purpose of the transaction. Any change in these transactions must be updated in this register.
- Register of Contracts or Arrangements with Related Parties: This register contains details of all the contracts or arrangements entered into by the company with related parties, including the name of the related party, the nature of the transaction, and the terms and conditions of the transaction. Any change in these transactions must be updated in this register.
- Minutes of Meetings: This register contains the minutes of all the board meetings and general meetings of the company. The minutes must contain the details of all the resolutions passed at the meetings.
- Register of Debenture Holders: This register contains details of all the debenture holders of the company, including their names, addresses, and the number of debentures held by them. Any change in the debenture holders must be updated in this register.
- Register of Directors’ Shareholdings: This register contains details of the shareholdings of all the directors of the company, including the number of shares held by them and any changes in their shareholdings.
- Register of Sweat Equity Shares: This register contains details of the sweat equity shares issued by the company, including the number of shares issued, the consideration paid for the shares, and the date of issue.
- Register of Employee Stock Options: This register contains details of the employee stock options issued by the company, including the number of options granted, the exercise price, and the date of grant.
It is important for a company to maintain these registers accurately and update them regularly as per the provisions of the Companies Act 2013[1]. Failure to do so can result in penalties and legal consequences.
How to Maintain the Statutory Registers as Per the Company Law Provisions?
The following are the registers that a company needs to maintain:
- Register of Members: A register of members is a record of all the shareholders of the company along with their details such as names, addresses, shareholding pattern, etc. This register should be maintained in Form No. MGT-1.
- Register of Directors and Key Managerial Personnel: This register contains the details of the directors and key managerial personnel of the company such as their names, addresses, designation, date of appointment, etc. This register should be maintained in Form No. MGT-2.
- Register of Debenture Holders: This register contains the details of the debenture holders of the company such as their names, addresses, the amount of debentures held, the date of issue, the date of redemption, etc. This register should be maintained in Form No. MGT-4.
- Register of Deposits: This register contains the details of the deposits accepted by the company w3qsuch as the names of the depositors, the amount of deposit, the date of deposit, the date of maturity, etc. This register should be maintained in Form No. DPT-2.
- Register of Charges: This register contains the details of the charges created on the assets of the company such as the name of the charge holder, the date of creation of charge, the amount of charge, etc. This register should be maintained in Form No. CHG-7.
- Register of Contracts, Arrangements, and Transactions: This register contains the details of all the agreements, arrangements, and negotiations entered into by the company with related parties such as the type of the contract, the date of the contract, the amount involved, etc. This register should be maintained in Form No. MBP-4.
- Register of Employee Stock Options: This register contains the details of the transfer of shares such as the details of the transferor and transferee, the transfer date, the number of shares transferred, amount, etc. This register should be maintained in Form No. SH-6.
| Sl. No. | Details of the Statutory Register | Form No. |
| Register of Members (Section-88) | Form No. MGT-1. | |
| Register of Directors and Key Managerial Personnel | Form No. MGT-2. | |
| Register of Debenture Holders (Section-88) | Form No. MGT-4. | |
| Register of Charges (Section 85) | Form No. CHG-7. | |
| Register of Deposits (Section-74) | Form No. DPT-2. | |
| Register of Contracts, Arrangements, and Transactions (Section-189) | Form No. MBP-4. | |
| Register of Employee Stock Options (Section-62) | Form No. SH-6. | |
| Register of Sweat Equity Shares (Section-54) | Form No. SH-3. |
Pic: Table containing the name of the register and the Form No. along with for its maintenance
Conclusion
All these registers should be maintained at the registered office of the company and should be available for inspection by the members of the company and other authorized personnel. The company should ensure that the registers are maintained accurately and updated regularly. Any changes or amendments to the registers should be made promptly and appropriately.
Read Our Article: Statutory Registers: Norms Under The Companies Act 2013
