MAINTAINANCE & COMPLIANCE OF STATUTORY RECORDS

Maintenance of statutory records

For the smooth functioning of any organization and to adhere to the statutory requirements, it is necessary to maintain records and register. Maintenance of such records is required to fulfil statutory, disclosure, statistical, and MIS purposes.


Maintaining such records helps to ensure that all the operations are held legally and systematically in the organization. As per the Companies Act,2013, every company has to maintain such records and has to register head office books of accounts, along with all the financial statements of the financial year. These records and documents provide a fair picture of the company’s position including branch offices and other offices.


Furthermore, it requires a transaction explanation that affects both registered as well as its branch offices. Such records and books must be maintained every year with the following double entry, bookkeeping system.

  • Statutory Books
  • As per the Companies act 2013, all registers need to be maintained
    i) Register of the Company
    ii) Register of Members
    iii) Register of Directors and Key Managerial Personnel
    iv) Register of Charges
    v) Register of Renewed and Duplicate Share Certificates
    vi) Register of Employee Stock Options
    vii) Register of Shares/Other Securities Bought Back

Statutory Books

Statutory books are the public records about the company’s shareholders, directors, and all the meetings held. These details should be mentioned in the normal accounting records that companies keep. Most of the companies keep their statutory records or registered as a bound book. However, they are allowed to keep it anyway like computer records. According to the Companies Act, every company must maintain the record before the registrar of companies within pre-decided time and prescribe fees by the ROC.

Registers to be maintained as per the Companies Act, 2013 for Company Accepting Deposits

Every company must maintain the records at the registered office, for the deposits accepted or renewed for 8 years. This period should start from the financial year and an entry should be made in the register. Such register must have the following documents

  • Name, PAN number and address of the depositors
  • For minors -guardian details
  • Particulars of the nominee
  • Date and amount of each deposit
  • Deposit receipt number
  • Interest rate
  • Duration of the deposit
  • Repayable date
  • The due date for interest payment
  • The payment date of interest due
  • Details about the insurance of deposit
  • Details of security created;
  • Other details are relevant to the deposit.

All the entries entered in the register must be authorized by the director or secretary of the company.

Register of Members

Every company has to maintain registers of their members with the following documents:

  • A separate register of the members for the equity shares and preference shares.
  • Register for the debenture holders.
  • Register for other security holders.

The registers must have index names. If the company doesn’t have the share capital, must have the following details of the member:

  • Name, address, E-mail, PAN, UIN, CIN, Occupation, Nationality, Father’s /Mother’s Name/Spouse’s Name,
  • Commencement date of the membership,
  • Cessation date of membership,
  • Other necessary details

Register of Directors and Key Managerial Personnel

Companies Act 2013 demands a company to maintain a register at a registered office containing particulars about the directors and Key Managerial Personnel. Also, it should comprise details of the securities held by them in the company or its subsidiary holding. Also, as per Rule 17 of Companies Rules 2014, the register must have the mentioned particulars at the registered office

  • DIN (Director Identification Number)
  • Name and surname
  • Any past name or surname
  • Name of father, mother, and spouse
  • Date of birth
  • Nationality (including the nationality of origin, if different)
  • Residential address (present as well as permanent)
  • The date of board resolution where the appointment was made
  • Occupation
  • Appointment and reappointment date
  • Date of cessation of office and along with reasons

Register of Charges

Register of charges must be maintained as Form No. CHG 7. The register must have details of the register charges with the registrar on assets, property, companies, or any other particulars of the property that was subject to charges. The register of charges should be kept safely in the registered office. And the instrument that created charges must be preserved for 8 years from the date of satisfaction of the charge.

Register of Renewed and Duplicate Share Certificates

In exchange for certificates that are subdivided or in replacement of certificates mutilated, defaced, torn out, decrepit are duly utilized. All the destroyed or lost certificates must be entered in Renewed and Duplicate Share Certificates which need to be maintained SH-2. A company should mention the name of the person to whom the certificate has been issued, the issue date and a number of certificates, and the required changes in the Register of members


Things to keep in mind while maintaining such registers:

  • The register must be kept permanently under the control of the company’s board of directors or the company’s secretary.
  • All the entries must be authorized by the board of directors or the company’s secretary.

Register of Employee Stock Options

According to the Companies Act, 2013, a company must maintain Form No.SH-6 for the Employee Stock Options and should enter the particulars of an option granted. These registers should be kept in the company’s registered office or at any other place as per the board of directors. All the entries made in the register should be authorized by the company’s boards of directors or the company secretary.

Register of Shares/Other Securities Bought Back

According to the Companies Act, 2013 a register and other securities bought backs need to be mentioned in Form SH-10 by the company. Details need to be included as follows:

  • Special resolution passing date by authorizing the buy-back of securities
  • Board approval date
  • Number and price of shares or other securities authorized for buyback
  • Opening and closing date of the buy-back offer
  • The date on which the buy-back was completed
  • Share or other securities details bought back the company

Penalties for not maintaining the Statutory Registers


  • For Register of Members – A penalty of Rs 50,000 which can extend up to Rs.3 Lakhs. And the penalty of Rs.1000 per day if the default continues
  • For Register of Duplicate and Share Certificates – 5 times of the face value of shares and can extend up to 10 times or Rs.10 crore. And each Defaulted Officer will be liable under section 447.
  • For Register of Shares/other securities bought back – Minimum penalty of Rs.1 lakh which can extend up to Rs.3 lakh. And each defaulted officer may have imprisonment of up to 3 years with or without the penalty amount.
  • For Register of Directors and Key Managerial Personnel – Penalty of Rs.50,000 which can be extended up to Rs.5 lakhs on both the company and defaulted officer.

Frequently Asked Questions

What is statutory maintenance?

Statutory maintenance means to make sure that your business is running with all relevant statutory requirements and regulatory laws and legislation.

What are the statutory requirements?

Statutory requirements are the requirements mandated by the law of government. These laws are enacted by passing the law in the legislative assembly or parliament.

What are the statutory regulations?

Statutory regulation refers to professions that must be registered with a professional regulatory body by law. Each regulator maintains a register of individuals who meet the required standards set for the specific profession.

What is the purpose of statutory regulations?

The purpose of the statutory regulations to protect the public from the risk of poor practice.