As per the companies act, 2013 and the rules made thereunder, there are various registers and records which has to be prepared and maintained by the company. The registers and records are generally known as statutory books and registers and the same is required under various sections of the act. These registers and records are required to be maintained at the registered office of the company until the company is dissolved. Some of the registers need to keep open for inspection by the directors, members, and other persons as provided for the specific statutory records. The company is also obligated to provide copies or extracts of the information that is maintained in the register to the stakeholders against the prescribed fee.
The important points on the statutory books and registers of the company are as under:
- This is mandatory provision and applicable to all categories of companies, whether it is a public limited company, private limited company or OPC.
- The statutory registers and records need to be maintained at the registered address of the company
- The statutory registers and records must be made available for inspection to the stakeholders and some registers are available for inspection by the public at large. However, the request to make the inspection of the company public records must be given well in advance and the inspection can be performed at the time provided by the company.
- Any non-compliance on the part of the company or its officers in meeting the provisions concerning the statutory registers and records is punishable with fine which shall be a minimum of one Lakh and up to ten lakh. Apart from the fine, officers of the company may also be prosecuted and imprisoned for a term which may extend to six months.
Hence it is advisable to prepare the statutory registers as per the provisions of law and keep it updated, Setindiabiz has a team of experienced company secretaries to assist you with the preparation and regular upkeep of the statutory registers of the company. The overall responsibility of preparation and maintenance of the records are on the company and its directors, the responsibility is non-transferrable.
The mode of maintenance of the statutory register of the company:
Various statutory registers and books have been prescribed to be maintained and kept at the registered address of the company. The statutory books and registers may be kept as a bound book or loose-leaf folders. However, the company has to ensure that all the information is updated and that the registers are easily accessible for inspection purposes. The electronic copies of the statutory registers may be kept by certain categories of the company as per rule 27 and 28 of the Companies Management and administration rules. However, for small companies, we do not recommend the maintenance of statutory records in electronic format in view of the stringent requirements of Rule 30 of the Companies (Management and Administration) Rules, 2014. There are certain vendors which sell blank bounded registers of all the statutory registers as stationary, which is very handy for the preparation and upkeep of the statutory registers for the company.
Here is the List of statutory books and registers which a company is required to prepare, keep and maintain at the registered address of the company.
- Register of sweat equity shares. [Section 54 and Rule 8(14)of Companies (Share Capital and Debentures Rules,2014]
- Register of Employee Stock Options. [Section 62(1)(b) Rule 12 of Companies(Share Capital and Debentures) Rules,2014]
- Register of securities bought back. [Section 68(9) and Rule 17(12) of companies (Share Capital and Debenture) Rules, 2014]
- Register of deposits. [Section 73 and Rule 14 Companies (Acceptance of Deposits) Rules,2014]
- Register of charges. [Section 85 and Rule 7 of Companies (Registration of Charges) Rules2014]
- Register of members. [Section 88(1)(a) and Rule 3 of Companies(Management and Administration) Rules, 2014]
- Register of debenture holders. [Section 88(1)(b) & (c) and Rule 4 of Companies (Management and Administration) Rules, 2014]
- Foreign register. [Section 88 (4) and Rule 7 of Companies (Management and Administration) Rules, 2014].
- Register of Renewed and Duplicate Share Certificates. [Rule 6 of the Companies (Share Capital and Debentures) Rules,2014]
- Register of Significant beneficial owners in a company. (Section 90 of Companies Act).
- Register of Postal Ballot. [Section 110 and Rule 22 of the Companies (Management and Administration) Rules, 2014]
- Books containing minutes of General Meeting and of Board and of Committees of Directors. [Section 118]
- Books of account. [Section 128]
- Register of Directors/ Key Managerial Personnel. [Section170(1)]
- Register of investments in securities not held in the company’s name. [Section 18 and Rule 14 of Companies (Meetings of Board and its Powers) Rules,2014]
- Register of loans guarantees given and security provided or making the acquisition of securities (Section 186(9) and Rule 12 Companies (Meetings of Boards and its Powers) Rules2014]
- Register of contracts with companies/firms in which directors are interested. [Section 189(5) and Rule 16 of Companies (Meetings of Boards and its Powers) Rules,2014]
Statutory Books and Registers of a Pvt Ltd Company