Compliances

Maintenance of Minutes / Statutory Register

Maintenance of Minutes

Minutes are nothing but kind of notes of a particular meeting or any official hearing in a company. These minutes are the written record of any official gathering of a company.

Guidelines

  • The minutes should be recorded in a separate book.
  • It should be maintained in either electronic or physical form.
  • The recording should be done systematically.
  • After proper recording minutes are circulated among all the directorsin span of 15 days.
  • Minutes are signed by the Chairman of the specific or the next meeting.
  • Inspection of minutes by any Director, Auditor, CS is allowed.

Maintenance of Minutes

 

Statutory Registers

The statutory registers are important. Not only is it a requirement of the companies Act that they should be kept and kept up to date, But the registers of members in particular is the primary authority as to who are members of the company and how many shares they hold.

Registers

Form Details
MBP-1 Notice of interest by Directors.
MBP-2 Register of loans,guarantee,security and acquisition made by the company.
MBP-3 Registers of investment not held in its own name by the company.
MBP-4 Register of contracts with related party and contracts and bodies etc in which directors are interested.
  • Register of Director & KMP
  • Register of Holdings
MGT-1 Register of Members
MGT-2 Register of debenture holder/other securities
MGT-3 Notice of situation or change or situation or discontinuation of situation
MGT-4 Declaration by the registered owner of shares who does not hold beneficial interest in such shares
MGT-5 Declaration by the beneficial owner who hold or acquires beneficial interest in shares but whose name not entered in register

 

Every indian company is required to maintain a statutory register at its registered office until the dissolution of the company. Failure of the company to maintain statutory register could result in a fine.
Hence, it is important for a private limited company to maintain statutory register.

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