Overview
Updating and maintenance of statutory records is a mandatory requirement for every company registered under the Companies Act, 2013. Statutory records are official registers and documents that a company is legally required to maintain at its registered office. These records provide complete information about the company’s structure, directors, shareholders, charges, meetings and other important matters. Proper maintenance of these records ensures transparency, accountability and smooth corporate governance.
Many companies focus only on annual filings and ignore the importance of regularly updating statutory registers. However, the law clearly requires that certain registers must be updated immediately after any change such as allotment of shares, appointment or resignation of directors, transfer of shares or creation of charge. During inspections by ROC or while conducting due diligence for investors or banks, these records are carefully examined. Incomplete or outdated records may attract penalties.
Statutory records include Register of Members, Register of Directors and Key Managerial Personnel, Register of Charges, Minutes Book of Board Meetings and General Meetings, Register of Loans and Investments, Register of Contracts and Arrangements in which directors are interested, and other prescribed records. These must be maintained in physical or electronic form as permitted by law. In addition, companies must ensure that resolutions are properly recorded and signed within the prescribed time limits.
At BizGlobal, we provide professional support for updating and maintenance of statutory records. Our team ensures that all registers are prepared as per legal format, updated after every event based change and maintained properly for inspection purposes. We help companies stay compliant, organised and ready for audits, funding rounds and regulatory checks without any stress.
