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Answer:
For an organization to function efficiently and adhere to the statutory requirements, it is essential to maintain certain records and registers. The registers to be maintained as per companies act are mentioned in this article.
Companies Act, 2013 requires every company to keep and maintain at its registered head office books of accounts and relevant documents and the financial statements for each FY (financial year) that provides a true and fair picture of the company’s state of affairs which includes its branch offices and other offices.
The provision further requires an explanation of transactions affected both at registered as well its branch offices and such books must be kept at accrual basis and following the double entry system of bookkeeping.
Statutory Register refers to specific records about a company's shareholders, directors, and the meetings held. These records are in addition to the normal accounting records that companies are also meant to keep.
Most of the companies keep their statutory registers in a loose-leaf binder or bound book, but they can keep it in any form like a computer record. The Companies Act, 2013 requires every company to furnish these records before ROC (registrar of companies) within specific time limits together with prescribed fees.