All about Statutory Registers to be Maintained by the Company Under Companies Act, 2013 In India
What are the Statutory Registers?
♦ According to the Companies Act, Statutory Registers are the registers which contains the specific record of the company’s shareholders, directors, deposits, loan & guaranty etc. and are placed at the Registered Office of the Company.
Why Statutory Registers are required to be maintained?
♦ For good corporate governance and to avoid the penalties, it is always advised to maintain the Statutory Registers.
♦ A company shall maintain only those Statutory Registers which are applicable to them according to the business and transactions.
The Company is required to maintain the Register and Index of Beneficial Owners in which entries shall be made for the beneficial owner of the shares of the Company where the share certificates are issued in the name of some other person.
The Company requires to maintain the Index of Members and debenture-holders in which serial wise entries shall be made for members and debenture-holders.
The Company requires to maintain the Register of Employee Stock Option providing all the details regarding the issue, e.g. Name of the Employees to whom the shares have been allotted, Employee Code, Number of Shares allotted, Lock-in period, if any etc.
The Company is required to maintain the Register of Directors & KMP and their Shareholding describing the Details of Directors such as Name, Address, PAN etc. and their shareholding in the Company itself, its Associate Companies, Subsidiary Companies etc.
It shall contain the particulars of the investment e.g. shares or other security which is beneficially held by the Company along with the reason for not holding it in its name. The Register shall also mention the relation under which the investment is held by the other person.
About the Author
Author is Divya Goel, ACS working as Assistant Manager- Company Secretary with Neeraj Bhagat & Co. Chartered Accountants, a Chartered Accountancy firm helping foreign companies in setting up business in India and complying with various tax laws applicable to foreign companies while establishing their business in India.