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Companies act register-penalty

Jyothis (Article) (1127 Points)

28 March 2016

What all registers are to be maintanied by a P.ltd Company under Co 2013-

Is there any penalty for non maintenance of such registers.

Is there any specific extra registers to be maintained when Caro is applicable to such company

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Megha Choudhary (Management Trainee) (541 Points)
Replied 29 March 2016

registers to be maintained by the Company

Sr. No.	Relevant Section & Rules	Register
1.	Section 88 (1) and Rule 3 (1) of the Companies (Management and Administration) Rules, 2014	MGT-1: Register of Members
2.	Section 88 (1) and Rule 4 of the Companies (Management and Administration) Rules, 2014	MGT-2: Register of Debenture holders
3.	Section 88 (2) and Rule 6 of the Companies (Management and Administration) Rules, 2014	Index of Members
4.	Section 88 (2)	Index of Debenture Holders
5.	Section 88(3)	Register and Index of Beneficial Owner
6.	Section 88(4) and Rule 7 of the Companies (Management and Administration) Rules, 2014	MGT-3: Foreign Register of Members, Debenture holders, other security holders or beneficial owners residing outside India
7.	Rule 6 of the Companies (Share Capital and Debentures) Rules, 2014	Form SH-2: Register of Renewed and Duplicate Share Certificate
8.	Section 54 and Rule 8 (14) of the Companies (Share Capital and Debentures) Rules, 2014	Form SH-3: Register of Sweat Equity Shares
9.	Section 62 and Rule 12 (10)	Form SH-6: Register of Employee Stock Options
10.	Section 68 and Rule 17 (12) of the Companies (Share Capital and Debentures) Rules, 2014	Form SH-10: Register of Shares or Securities Bought Back
11.	Section 170(1) and Rule 17 of the Companies (Appointment and Qualification of Directors) Rules, 2014	Register of Directors and KMPs
12.	Section 73 and Rule 14 of the Companies (Acceptance of Deposits) Rules, 2014	Register of Deposits
13.	Section 85 and Rule 7 of the Companies (Registration of Charges) Rules, 2014	Form CH-7: Register of Charges
14.	Section 186 and Rule 12 of the Companies (Meeting of Board and its Powers) Rules, 2014	Form MBP-2: Register of Loans/Guarantee/Security and Acquisition by Company
15.	Section 187 and Rule 14 of the Companies (Meeting of Board and its Powers) Rules, 2014	Form MBP-3: Register of Investments not held in its own name
16.	Section 189 and Rule 16 of the Companies (Meeting of Board and its Powers) Rules, 2014	Form MBP-4: Register of Contracts or Arrangements in which Directors are interested

Other Important Books and Registers

Minutes Book
- Board Meeting Minutes Book
- General Meeting Minutes Book (i.e. AGM, EGM, Postal Ballot, Creditors Meetings, Debenture holders Meetings)
Books of Accounts/Financial Statements
Register of Directors Attendance at Board/Committee Meetings.

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Megha Choudhary (Management Trainee) (541 Points)
Replied 29 March 2016

penalties depend on the type of register u failed to maintain..

different penalties for all

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CS Arjun Rajagopal (B.com, ACS) (1056 Points)
Replied 29 March 2016

Dear Jyothis,

Following Statutory Registers shall be maintained by a company under Companies Act, 2013

1. Register of Members

2. Register of Debenture Holders/Other Securities

3. Register of Directors and KMP and their shareholding

4. Register of Renewed and Duplicate Share Certificate

5. Register of Sweat Equity Shares

6. Register of Employee Stock Option

7. Register of Shares/Other Securities Bought Back

8. Register of Charges

9. Register of Loans, Guarantee, Security and Acquisition Made by Company

10.Register of Investment Not Held In Its Own Name By The Company

11. Register of Contracts with Related Party and Contracts and Bodies etc in which directors are interested.

Excel format of all the above registers is attached herewith.

For penalties kindly refer the corresponding section.

Regards,

Arjun Rajagopal

Attached File : 639608 20160329132155 registers under cos act 2013.xlsx downloaded: 211 times

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Jyothis (Article) (1127 Points)
Replied 29 March 2016

Maintenance of Fixed Asset register mandatory or Not,When Caro is applicable.

Please any one mention penalty for non mainteance of Registers under Co Act,2013

CS Arjun Rajagopal (B.com, ACS) (1056 Points)
Replied 30 March 2016

Originally posted by : Jyothis
	Maintenance of Fixed Asset register mandatory or Not,When Caro is applicable. Please any one mention penalty for non mainteance of Registers under Co Act,2013

The Companies Act, 2013 does not directly prescribe about the statutory maintenance of fixed assets register. However, if you read Section 128(1) along with Section 2(13)(iii) you may understand that the term "books of account" include records maintained in respect of the assets and liabilites of the company. It can be therefore understood that fixed assets is a statutory register to maintained as part of the books of account under the Companies Act, 2013.

Section 128(1) and Section 2(13) is reproduced below for your reference.

128(1): Every company shall prepare and keep at its registered office books of
account and other relevant books and papers and financial statement for every financial year
which give a true and fair view of the state of the affairs of the company, including that of its
branch office or offices, if any, and explain the transactions effected both at the registered
office and its branches and such books shall be kept on accrual basis and according to the
double entry system of accounting

Section 2(13): “books of account” includes records maintained in respect of—
(i) all sums of money received and expended by a company and matters in
relation to which the receipts and expenditure take place;
(ii) all sales and purchases of goods and services by the company;
(iii) the assets and liabilities of the company; and
(iv) the items of cost as may be prescribed under section 148 in the case of
a company which belongs to any class of companies specified under that section;

Regarding Penalty Please go through Section 128(6) of the Act which is reproduced below for your reference.

If the managing director, the whole-time director in charge of finance, the Chief
Financial Officer or any other person of a company charged by the Board with the duty of
complying with the provisions of this section, contravenes such provisions, such managing
director, whole-time director in charge of finance, Chief Financial officer or such other person
of the company shall be punishable with imprisonment for a term which may extend to one
year or with fine which shall not be less than fifty thousand rupees but which may extend to
five lakh rupees or with both.

Hope the matter is clear to you.

Regards,

Arjun Rajagopal

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csmedha (Company Secretary) (91 Points)
Replied 31 March 2016

Hello,

Can we maintain the registers in electronic form?

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CS Arjun Rajagopal (B.com, ACS) (1056 Points)
Replied 31 March 2016

Originally posted by : csmedha
	Hello, Can we maintain the registers in electronic form?

Hi Medha,

Maintenance of statutory registers in electronic form is only optional. Earlier it was mandatory for listed comps and comps having more than 1000 shareholders.

Pls refer Rule 27(1) of Cos (Management and Administration) Rules, 2014. The said rule is amended by MCA Notification dt 24.07.2014

MCA Amendment dt 24.07.2014 is attached herewith for your reference.

Regards,

Arjun Rajagopal

Attached File : 639608 20160331171600 amendmentrules 24072014.pdf downloaded: 166 times

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