Maintain Company Statutory Registers explained: this guide covers what it means, who it applies to, the step-by-step process, documents required, fees, due dates and penalties in India — so you can stay compliant with confidence and avoid costly mistakes.
Every company must maintain statutory registers — members (MGT-1), charges (CHG-7), directors and KMP, loans and investments (MBP-2) and contracts (MBP-4) — at its registered office, keep them updated, allow inspection during business hours, and preserve them for the prescribed periods under Sections 85 to 189 of the Companies Act, 2013.
Overview
Statutory registers are the permanent legal record of a company's ownership, management and material transactions. They evidence who the members and directors are, what charges exist over assets, and what loans and contracts the company has entered. The Companies Act, 2013 prescribes specific registers, their formats, where they are kept, and who may inspect them.
When It Is Required & Legal Basis
Registers must be maintained from incorporation and updated on every relevant event — a transfer of shares, creation of a charge, appointment of a director, or entering a related-party contract. The obligation is spread across Sections 85 (charges), 88 (members, debenture-holders and other security holders), 170 (directors and KMP), 186 (loans and investments) and 189 (contracts in which directors are interested).
Statutory Registers Checklist
- Register of members. Maintained in Form MGT-1 under Section 88; update on every transfer/transmission.
- Register of charges. Maintained in Form CHG-7 under Section 85; record every charge created, modified or satisfied.
- Register of directors and KMP. Under Section 170, including their shareholding; update on every appointment, resignation or change.
- Register of loans, guarantees and investments. Form MBP-2 under Section 186.
- Register of contracts / arrangements in which directors are interested. Form MBP-4 under Section 189, with MBP-1 disclosures.
- Register of renewed and duplicate share certificates and register of debenture-holders as applicable.
Forms, Place of Keeping & Inspection
| Register | Form / Section | Inspection |
|---|---|---|
| Members | MGT-1 / Sec 88 | Members free; others on fee |
| Charges | CHG-7 / Sec 85 | Members & creditors free |
| Directors & KMP | Sec 170 | Members free at AGM |
| Loans/Investments | MBP-2 / Sec 186 | Members on request |
| Contracts with related parties | MBP-4 / Sec 189 | Members free |
Registers are ordinarily kept at the registered office; the register of members may be kept elsewhere in India by special resolution and filing MGT-14.
Timeline & Due Dates
Registers must be updated within seven days of the Board authorising an entry (for MBP registers) and immediately on any change to members/directors. Annual returns (MGT-7) are preserved for eight years; the register of members permanently.
Penalty for Delay / Non-compliance
Under Section 88(5), failure to maintain the register of members/debenture-holders attracts a penalty of ₹3 lakh on the company and ₹50,000 on every officer in default. Charge-register defaults attract penalties under Section 86, and contract-register defaults under Section 189(6) attract a penalty of ₹25,000 on each defaulting director.
Practical Tips
- Keep registers in bound or securely maintained electronic form and back them up.
- Reconcile the register of members with the RTA/depository beneficial-owner data periodically.
- Record MBP-1 director disclosures at the first Board meeting each year and update the MBP-4 register promptly.
- Log inspection requests and responses to demonstrate compliance.