E-REGISTER UNDER COMPANIES ACT 2013 A Article By ACS Kirti Tuli

E-Governance: Maintenance of books in electronic form Section 2(12) “book and paper” and “book or paper” include books of account, deeds, vouchers, writings, documents, minutes and registers maintained on paper or in electronic form; Section 2(36) “document” includes summons, notice, requisition, order, declaration, form and register, whether issued, sent or kept in pursuance of this Act or under any other law for the time being in force or otherwise, maintained on paper or in electronic form; Section 2(74) “register of companies” means the register of companies maintained by the Registrar on paper or in any electronic mode under this Act;

Maintenance of books in electronic Form [Section 120] Section 120 provides that any document, record, register, minutes, etc.,— required to be kept by a company; or allowed to be inspected or copies to be given to any person by a company may be in electronic form in such form & manner as may be prescribed.

RULE 27 Rule 27 of Companies (Management and Administration) Rules, 2014 Every listed co. or a co. having not less than 1000 shareholders, debenture holders and other security holders, shall maintain its records in electronic form. In case of existing companies, data shall be converted from physical mode to electronic mode within six months from the date of notification(w.e.f 1-4-2014 therefore by 30-09-2014 companies need to comply).

RULE 28 Security of records maintained in electronic form The MD, CS or any other director or officer of the company as the Board may decide shall be responsible for the maintenance and security of electronic records.

RULE 29 Inspection and copies of records maintained in electronic form. Company shall allow inspection in records in electronic form or provide copies of those records containing a clear reproduction of the whole or part thereof, on payment of not exceeding ten rupees per page

TYPES OF REGISTERS MAINTAINED UNDER COMPANIES ACT, 2013 Register of Members (MGT-1) Register of Debenture Holders (MGT-2) Register of Directors and Key Managerial Personnel and their shareholding Register of Renewed and Duplicate Share Certificate (SH-2) Register of Employee Stock Option (SH-6)

Register of Shares/Other Securities Bought Back (SH-10) Register of Charges (CHG-7) Register of Loans, Guarantee, Security And Acquisition Made By Company (MBP-2) Register of Investment Not Held In Its Own Name By The Company (MBP-3) Register of Contracts With Related Party And Contracts And Bodies Etc. In Which Directors are Interested (MBP-4) Register of Sweat Equity Shares(SH-3)

PANEL PROVISIONS If a company does not maintain a register of members or debenture-holders or other security holders or fails to maintain them in accordance with the provisions of sub-section (1) or sub-section (2), the company and every officer of the company who is in default shall be punishable with fine which shall not be less than fifty thousand rupees but which may extend to three lac rupees and where the failure is a continuing one, with a further fine which may extend to one thousand rupees for every day, after the first during which the failure

By ACS Kirti Tuli http://www.businessmantranews.com