Our Visitor

000741
Total views : 2756

Maintenance of Statutory Registers and Records:

Under the Companies Act, 2013, companies are required to maintain various statutory registers and records. These registers and records help in ensuring compliance, transparency, and accountability. Here are some key registers and records that need to be maintained:

  1. Register of Members: This register contains the details of the company’s shareholders, including their names, addresses, shareholding, and other relevant information. It should also reflect changes in share ownership, transfers, and transmissions.
  2. Register of Directors and Key Managerial Personnel (KMP): This register includes the details of the company’s directors, their addresses, directorship in other companies, shareholding, and any changes in their positions. It should also include details of the KMP, such as the managing director, whole-time director, company secretary, etc.
  3. Register of Debenture Holders: If a company has issued debentures, it needs to maintain a register of debenture holders. This register includes details of the debenture holders, such as their names, addresses, debenture holdings, and any transfers or transmissions of debentures.
  4. Register of Charges: This register contains details of all charges created by the company on its assets, such as mortgages, liens, or pledges. It includes the particulars of the charge, the property charged, the date of creation, and any modifications or satisfaction of the charge.
  5. Minutes of Meetings: Every company is required to maintain minutes of its board meetings, general meetings (AGM and EGM), and committee meetings. The minutes should accurately record the proceedings, decisions, and resolutions passed at the meetings.
  6. Books of Accounts: Companies must maintain proper books of accounts, including records of all financial transactions, assets, liabilities, income, and expenses. These books should comply with the applicable accounting standards and provide a true and fair view of the company’s financial position.
  7. Financial Statements: Companies are required to prepare and maintain financial statements, including the balance sheet, profit and loss account, cash flow statement, and any other statements prescribed by law. These statements should be prepared annually and reflect the true financial position of the company.
  8. Registers of Contracts, Arrangements, and Related Party Transactions: Companies need to maintain registers that record details of contracts, arrangements, and transactions with related parties. These registers help in identifying and monitoring related-party transactions and ensure compliance with applicable laws.

It is important to note that the Companies Act, 2013, provides specific requirements and formats for maintaining these registers and records. The Act also prescribes the duration for which these records should be retained. Companies should refer to the Act, relevant rules, and consult legal professionals to ensure proper maintenance and compliance with statutory requirements.

Leave a comment