Register of directors and key managerial personnel and their shareholding, What is Members right to inspect What is Punishment Section 170, 171 and 172 of Indian Companies Act 2013

Register of directors and key managerial personnel and their shareholding, Members right to inspect and Punishment are defined under Section 170, 171 and 172 of Indian Companies Act 2013. Provisions under these sections are:

Section 170 of Indian Companies Act 2013 "Register of directors and key managerial personnel and their shareholding"

(1) Every company shall keep at its registered office a register containing such particulars of its directors and key managerial personnel as may be prescribed, which shall include the details of securities held by each of them in the company or its holding, subsidiary, subsidiary of company holding company or associate companies.


 

(2) A return containing such particulars and documents as may be prescribed, of the directors and the key managerial personnel shall be filed with the Registrar within thirty days from the appointment of every director and key managerial personnel, as the case may be, and within thirty days of any change taking place.

Section 171 of Indian Companies Act 2013 "Members right to inspect"

1) The register kept under sub-section (1) of section 170, -

(a) shall be open for inspection during business hours and the members shall have a right to take extracts there from and copies thereof, on a request by the members, be provided to them free of cost within thirty days; and

(b) shall also be kept open for inspection at every annual general meeting of the company and shall be made accessible to any person attending the meeting.

(2) If any inspection as provided in clause (a) of sub-section (1) is refused, or if any copy required under that clause is not sent within thirty days from the date of receipt of such request, the Registrar shall on an application made to him order immediate inspection and supply of copies required there under.

Section 172 of Indian Companies Act 2013 "Punishment"

If a company contravenes any of the provisions of this Chapter and for which no specific punishment is provided therein, 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 five lakh rupees.

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