Inspection of Register and filed documents
Inspection of Register and Filed Documents
1. What is meant by "Register" and "Filed Documents"?
Register: Official records maintained by a company or firm, which contain important information about the company, such as:
Register of members (shareholders)
Register of directors
Register of charges (mortgages, loans)
Register of contracts, etc.
Filed Documents: Documents submitted or filed with the Registrar or relevant authority, including:
Memorandum of Association (MOA)
Articles of Association (AOA)
Annual returns
Financial statements
Resolutions and notices
2. Right of Inspection
Who can inspect?
Members of the company (shareholders) generally have the right to inspect registers and documents.
Creditors, investors, or the general public may also have limited rights to inspect certain documents, usually upon payment of a prescribed fee.
Regulatory authorities and courts have rights to inspect as well.
Purpose:
Inspection allows stakeholders to verify the company’s compliance with law, ownership, charges, and other key information.
3. Legal Provisions (Example: Indian Companies Act, 2013)
Section 94: Members have the right to inspect the Register of Members and other statutory registers during business hours.
Section 92: Annual return and other documents must be filed with the Registrar of Companies and are available for inspection by the public.
Section 121: Registers and copies of annual returns can be inspected by members, creditors, and others on payment of prescribed fees.
4. Procedure for Inspection
Time and Place:
Inspection is usually allowed during business hours at the company’s registered office or Registrar’s office.
Fees:
A nominal fee may be charged for copying or inspection, especially for public or non-members.
Limits:
Some documents (like minutes of board meetings or private contracts) may have restricted access.
5. Importance of Inspection
Ensures transparency in company affairs.
Helps shareholders protect their rights.
Enables creditors and investors to assess financial and legal health.
Acts as a check against fraud or mismanagement.
Summary Table:
| Aspect | Details |
|---|---|
| What is inspected? | Registers (Members, Directors, Charges), filed documents (Annual returns, MOA, AOA) |
| Who can inspect? | Members, creditors, public (with fee), regulatory authorities |
| Where & when? | Registered office or Registrar’s office during business hours |
| Fees | Nominal fee usually required for copying or non-members |
| Legal basis | Company law sections (e.g., Sections 92, 94, 121 of Indian Companies Act) |
RELATED Blog
0 comments