What is Power to close register of members or debenture holders or other security holders What is Annual return Section 91 and 92 of Indian Companies Act 2013

Power to close register of members or debenture holders or other security holders and Annual return are defined under Section 91 and 92 of Indian Companies Act 2013. Provisions under these sections are:

Section 91 of Indian Companies Act 2013 "Power to close register of members or debenture holders or other security holders"

(1) A company may close the register of members or the register of debenture holders or the register of other security holders for any period or periods not exceeding in the aggregate forty-five days in each year, but not exceeding thirty days at any one time, subject to giving of previous notice of at least seven days or such lesser period as may be specified by Securities and Exchange Board for listed companies or the companies which intend to get their securities listed, in such manner as may be prescribed.

Punishment for violation of Section 91 of Companies Act 2013

(2) If the register of members or of debenture-holders or of other security holders is closed without giving the notice as provided in sub-section (1), or after giving shorter notice than that so provided, or for a continuous or an aggregate period in excess of the limits specified in that sub-section, the company and every officer of the company who is in default shall be liable to a penalty of five thousand rupees for every day subject to a maximum of one lakh rupees during which the register is kept closed.

 

Section 92 of Indian Companies Act 2013 "Annual return"

(1) Every company shall prepare a return (hereinafter referred to as the annual return) in the prescribed form containing the particulars as they stood on the close of the financial year regarding -

(a) its registered office, principal business activities, particulars of its holding, subsidiary and associate companies;

(b) its shares, debentures and other securities and shareholding pattern;

(c) its indebtedness;

(d) its members and debenture-holders along with changes therein since the close of the previous financial year;

(e) its promoters, directors, key managerial personnel along with changes therein since the close of the previous financial year;

(f) meetings of members or a class thereof, Board and its various committees along with attendance details;

(g) remuneration of directors and key managerial personnel;

(h) penalty or punishment imposed on the company, its directors or officers and details of compounding of offences and appeals made against such penalty or punishment;

(i) matters relating to certification of compliances, disclosures as may be prescribed;

(j) details, as may be prescribed, in respect of shares held by or on behalf of the Foreign Institutional Investors indicating their names, addresses, countries of incorporation, registration and percentage of shareholding held by them; and

(k) such other matters as may be prescribed, and signed by a director and the company secretary, or where there is no company secretary, by a company secretary in practice:

Provided that in relation to One Person Company and small company, the annual return shall be signed by the company secretary, or where there is no company secretary, by the director of the company.

(2) The annual return, filed by a listed company or, by a company having such paid-up capital and turnover as may be prescribed, shall be certified by a company secretary in practice in the prescribed form, stating that the annual return discloses the facts correctly and adequately and that the company has complied with all the provisions of this Act.

(3) An extract of the annual return in such form as may be prescribed shall form part of the Boards report.

(4) Every company shall file with the Registrar a copy of the annual return, within sixty days from the date on which the annual general meeting is held or where no annual general meeting is held in any year within sixty days from the date on which the annual general meeting should have been held together with the statement specifying the reasons for not holding the annual general meeting, with such fees or additional fees as may be prescribed, within the time as specified, under section 403.

Punishment for not filing Annual Return

(5) If a company fails to file its annual return under sub-section (4), before the expiry of the period specified under section 403 with additional fee, the company shall be punishable with fine which shall not be less than fifty thousand rupees but which may extend to five lakhs rupees and every officer of the company who is in default shall be punishable with imprisonment for a term which may extend to six months or with fine which shall not be less than fifty thousand rupees but which may extend to five lakh rupees, or with both.

(6) If a company secretary in practice certifies the annual return otherwise than in conformity with the requirements of this section or the rules made there under, he shall be punishable with fine which shall not be less than fifty thousand rupees but which may extend to five lakh rupees.

 

Register of charges to be kept by Registrar, Responsibility of Company to report satisfaction of charge. Section 81 and 82 of Indian Companies Act 2013

What is Power of Registrar to make entries of satisfaction and release in absence of intimation from company What is Intimation of appointment of receiver or manager Section 83 and 84 of Indian Companies Act 2013

What is Company's register of charges What is Punishment for contravention Section 85 and 86 of Indian Companies Act 2013

What is Rectification by Central Government in register of charges What is Register of members etc Section 87 and 88 of Indian Companies Act 2013

What is Declaration in respect of beneficial interest in any share What is Investigation of beneficial ownership of shares in certain cases Section 89 and 90 of Indian Companies Act 2013

What is Power to close register of members or debenture holders or other security holders What is Annual return Section 91 and 92 of Indian Companies Act 2013

What is the Return to be filed with Registrar in case promoters stake changes What is the Place of keeping and inspection of registers, returns, etc Section 93 and 94 of Indian Companies Act 2013

What is Registers, etc., to be evidence What is Annual general meeting What is Power of Tribunal to call annual general meeting Section 95, 96 and 97 of Indian Companies Act 2013

What is Power of Tribunal to call meetings of members, etc What is Punishment for default in complying with provisions of sections 96 to 98 What is the procedure for Calling of extraordinary general meeting Section 98, 99 and 100 of Indian Companies Act 2013

 

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