STATUTORY REGISTERS

Statutory Registers are mandatory registers to be maintained by the Company. Get our consultation to know which registers applicable for you and avoid non compliances and penalties.

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MEANING OF STATUTORY REGISTERS

As per the provisions of Companies Act, 2013, every registered company is required to maintain certain prescribed statutory registers. The company is compulsory required to keep these registers open for inspection by members, creditors and other eligible person.

DOCUMENT REQUIRED FOR MAINTAINING REGISTER

Basic details

Name and Address.

Contact details of person

Email ID & Mobile Number.

Supporting documents

Any referential or supporting documents for entry in register.

TYPES OF STATUTORY REGISTERS

Register of members :- Every company shall maintain register of members containing details of each member of the company. Separate register must be maintained in respect of each class of shares of the company.
Register for Deposits :- Every company accepting deposits is required to maintain register of deposits in which it shall enter particulars of each depositor.
Register of Directors and Key Managerial Personnel :- All the Detailed records of directors and KMP along with their records of their shareholding to be maintained in the register.
Register of Charges :- Register of Charge to be maintained which shall contain details of creation, modification and satisfaction of charges.
Register of Share certificates :- In case any duplicate or renewed share certificate is issued then the entries to be made in register indicating name of the person to whom it is issued, number of shares and date of issue of duplicate share certificate.
Register of loan and guarantee :- Every company is required to maintain the register containing details of loan and guarantee given by it and preserve this register permanently.
Register of Related party contracts :- Every company is required to maintain register of contract and arrangement in which directors are interested as per the format prescribed under the act.
Register of Debenture holder :- Every company which is issuing debentures is required to maintain the records of particulars of debenture holder in a separate register.
Register of buy back of shares and securities :- In case of public company when shares are bought back, it shall maintain register of buy back then register maintained with details and needs of shares buy back.
Register of Employee Stock Options :- Company is required to maintain the register of ESOP(Register of Employee Stock Options) containing details of the employee to whom it is issued and the class of securities issued.

NEED OF MAINTAINING STATUTORY REGISTER

Serve as a Legal proof :- Registers act a documentary evidence and serve as a legal proof in the court of law. It provide ease in inspection by stakeholders.
Compliances :- Proper and correct maintaining of register avoid the heavy penalties which may arise due to non-maintenance of such statutory registers.
Reduce chances of dispute :- A well maintained registers lead to clarity of the facts. It reduces the chances of dispute which may occur due to non-maintains of record.
Prevent Confusions :- It help to prevent time-consuming missteps and confusion when the information is required in future.

CONSEQUENCES OF NON-MAINTENANCE OF REGISTER

Failure in maintain statutory registers shall leads to be punishment with heavy penalties or fines. The penalty amount vary depending upon the type of statutory register which is not maintained by the company.

Frequently Asked Questions

What is meant by Statutory Registers?

company’s shareholder
company’s debenture holders
company’s directors
interest of director in other entity
company’s deposits
company’s charges, etc

What is the need to maintain statutory registers for company?

The company needs to maintain statutory registers because:

For good corporate governance.
To save itself from penalties of non-compliance of the act.
For keeping records.
For maintaining transparency.

Who is required to authenticate the statutory registers?

Statutory registers of the company is required to be authenticated by the Company Secretary (CS) of the company or by any other person authorized by the board in such respect.

Do the applicant requires to present physically for the maintaining registers?

No, applicant is not required to be physically present. LegalDisha provides you online services and assistance for the same.