I am going to start an Audit of one Public Co. soon in which I want to apply my C.Law knowledge & hence I am preparing “ROC related questionnaire”. For that I want to clear my some of doubts. Here is one :-
There are 16 (sixteen) statutory registers which Co. has to maintain compulsorily. Take an example - Register of Foreign Members u/s 157 etc.
My question is – is it mandatory for company to maintain it even if such situation is not applicable? (because company in question doesn’t have any foreign member)
Plus, I want to know the practical issues in respect of Table A of Companies Act. Does it matter that company has adopted Table A as its AoA? Means I want to know :-
1)whether maintenance of aforesaid statutory registers depends on what has adopted by the company, Table A or its own AoA?OR
2)it doesn’t make any difference that whether company has adopted Table A or it has drafted its own AoA.
A company has to maintain statutory register only if such situation is applicable.
Maintenance of Statutory Register is the duty cast upon the Company by the Companies Act, 1956. Irrespective of its Articles, the Company is required to maintain the same. Even if the Articles of the Company provides some relaxations, the Companies Act being superior law, it prevails over the Articles.