Why are the following registers maintained in a company and under what rules ? CHG-7, MGT-2, MBP-3, SH-3, PAS-5.
CS Professional · Secretarial Audit, Compliance Management and Due Diligence · PYQS · June 2022
Why are the following registers maintained in a company and under what rules ? CHG-7, MGT-2, MBP-3, SH-3, PAS-5.
Answer & Explanation:
The requirements and legal provisions of following registers maintained by the company are as mentioned below: Form CHG-7 - It is register of charges mentioned under section 85 read with rule 10(1) of Companies (Registration of Charges) Rules, 2014. Form MGT-2 - Register of debenture holders/ other securities holders with index of names. It is maintained as per section 88 read with rule 4 and 15 of the Companies (Management and Administration) Rules, 2014. Form MBP-3 - Register of Investment not held in the name of the company maintained under section 187 (3) read with rule 14(1) of the Companies (Meetings of Board and its Powers) Rules, 2014. Form SH-3 - Register of sweat equity shares. Entry shall be made forthwith on issue of sweat equity shares under section 54. Authentication of the entries are to be made by company secretary or any other person authorized by the Board. It is maintained under section 54 and rule 8(14)(a) of the Companies (Share Capital and Debentures) Rules, 2014. Form PAS-5 - Complete record of private placement offers. Maintenance under section 42(7) read with rule 14 of the Companies (Prospectus and Allotment of Securities) Rules, 2014.
Topics: Company Law
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