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Maintenance of Statutory Registers
The Maintenance of Statutory Registers is a legal obligation for companies under the Companies Act, 2013. These registers document essential details about the company’s directors, shareholders, members, loans, and other statutory requirements. They are vital for ensuring transparency, regulatory compliance, and smooth functioning of corporate governance.
Statutory Registers are records that provide detailed information about a company’s structure, governance, and operational decisions. These registers must be maintained at the company’s registered office and updated regularly. They may be inspected by shareholders, auditors, and regulatory authorities, ensuring accountability and compliance.
Important
1. Legal Compliance : Ensures adherence to the Companies Act, 2013.
2. Transparency : Provides stakeholders with accurate and updated information.
3. Audit Readiness : Facilitates statutory and regulatory audits.
4. Prevention of Penalties : Avoids fines and penalties for non-compliance.
5. Corporate Governance : Enhances accountability and operational efficiency.
Documents Required
Features
Features & Benefits of Maintenance of Statutory Registers
Comprehensive Records
Electronic and Physical Maintenance
Inspection Rights
Penalties for Non-Compliance
Maintenance of Statutory Registers
Governance-Oriented
Audit-Ready Documentation
Periodic Updates
Legally Binding Format
Protection of Records
Comparison with Related Services
| Feature | Statutory Registers Maintenance | Annual Return Filing | Directors’ Report Filing |
|---|---|---|---|
| Objective | Maintain legal records | Report corporate structure | Report company performance |
| Scope | Comprehensive company details | Shareholding and directors | Governance and compliance |
| Mandatory Filing | No (maintenance required) | Yes | Yes |
| Regulatory Authority | MCA | MCA | MCA |
| Format | Prescribed under Companies Act | Prescribed under Companies Act | Prescribed under Companies Act |
| Inspection Rights | Yes (shareholders and auditors) | No | No |
| Penalty for Non-Compliance | High | High | High |
| Frequency of Update | Ongoing | Annually | Annually |
| Key Users | Shareholders, Auditors | Shareholders, Regulators | Shareholders, Regulators |
| Applicable Entities | All Companies | Companies and LLPs | Companies |
Frequently Asked Questions
What are Statutory Registers?
Statutory Registers are mandatory records maintained by a company, documenting details about members, directors, loans, contracts, and other governance aspects as required by the Companies Act, 2013.
Who is responsible for maintaining Statutory Registers?
The company’s board of directors is responsible, often delegating the task to the company secretary or compliance officer.
Are Statutory Registers mandatory for all companies?
Yes, they are mandatory for all companies except for certain exemptions provided to OPCs and small companies.
Can Statutory Registers be maintained electronically?
Yes, statutory registers can be maintained in electronic form, provided they are secure and compliant with regulatory requirements.
What is the penalty for non-maintenance of Statutory Registers?
Non-maintenance attracts penalties of up to ₹50,000, with additional fines for continuing defaults.
Who can inspect the Statutory Registers?
Shareholders, auditors, and regulatory authorities have the right to inspect certain statutory registers.