As the name suggests, statutory registers Tamil Nadu are the registers that must be kept up to date by a corporation to record certain crucial information about the organization. Information like member, director, KMP, and other details may be included in this. A few statutory registers near Tamil Nadu must be kept current following the Companies Act of 2013. Failure to comply with this requirement could result in severe fines for the corporation and the officials involved. This blog will discuss statutory registers Tamil Nadu and how important it is to be maintained by a company.
Preservation of Statutory Registers
By keeping such records, an organization may ensure its operations are well-organized. According to the Companies Act of 2013, every corporation is required to keep and maintain at its registered head office books of accounts, pertinent paperwork, and financial statements for each FY (financial year) that show an accurate and fair representation of the company’s financial situation, including its branch offices and other offices. The clause further mandates that books be kept on an accrual basis using the double-entry bookkeeping method and that transactions affecting registered and branch offices be explained. There is a set of registers that the firms must keep up to date according to the Companies Act of 2013. These registers of statutory registers near me are listed below:
- Members’ Roster (MGT-1).
- Registration of Debenture Holders or Other Security Holders (MGT-2).
- Expatriate Register (MGT-3).
- Directors’ Register and KMP.
- Certificates of Shares Renewed or Duplicated Register (SH-2).
- Shares of Sweat Equity Register (SH-3).
- Register of ESOPs (SH-6) Register of repurchased shares and other securities (SH-10).
- (CHG-7) Register of Charges.
- Registering loans, guarantees, security deposits, and the purchase of securities (MBP-2).
- Investments of the Company Not Held in its Name Register (MBP-3).
- “Register of Contracts and Arrangements” (MBP-4) lists contracts and agreements in which directors have interests.
Every business that accepts deposits must keep one or more registers for deposits taken and/or renewed at the registered office for at least eight years. This time frame must start with the FY (financial year) in which the entry was made. The following information regarding depositors must be included in statutory registers Tamil Nadu:
- Name, PAN, and address of the depositors; Information about the minor’s guardian.
- Specifics about the nominee.
- The quantity and date of each deposit.
- Number on the deposit receipt.
- The interest rate.
- The length of such a deposit.
- Date of Repayment.
- Interest Payment Due Date.
- The interest payment due date.
- Specifics on deposit insurance.
- Information about the charge or security created.
- Additional information about the deposit.
Tamil Nadu Shops and Establishments Act
The entries in this register must all be authenticated by the BOD of the company. All stores and other commercial businesses in the areas designated by the Government of Tamil Nadu are subject to the 1947 Tamil Nadu Shops and Businesses Act and 1948 Rules. The Act was passed to defend employee rights. The Act specifies standards for the payment of salaries, terms of services, working hours, breaks, overtime pay, closed days, holidays, leaves, maternity leave, benefits, working conditions, child labour laws, record-keeping requirements, and more.
A company’s shareholders, directors, and meetings are detailed in the statutory registers near Tamil Nadu. In addition to the standard accounting records that businesses must maintain, these records are also kept. Statutory registers near me are, as their name suggests, documents that include vital information about a corporation, including details about its directors, members, key management people, etc.