Sunday, April 01, 2012

Members right-Companies Act, 1956



Articles-72

The Companies Act, 1956 imparts so many rights to the members of each Company. But many of them are unaware of such rights.  I think the only right about which they are aware is the receipt of dividend. They do know that the power to declare dividend is bestowed on them. It is not possible to educate all the investors regarding the legal and procedural aspects of various activities of the Companies. That is why the Government established various professional bodies and through such bodies, the Government tries to bring a control over the activities of the Companies. So professionals such as Company Secretaries, Chartered Accountants and Cost accountants should be loyal to the members of the Company, Government and should act within the purview of their mother institutes.
Certainly, the professionals as employees should be loyal to the employers and management. Their loyalty should to save the employer from falling victims of illegal activities and non-compliances of various Laws.
This is a list of registers of a Company, which can be inspected by a member as per the Companies Act, 1956.
1.
Register of investment not held in Company’s name
Section 49
2.
Register of charges
Section 144
3.
Register of members
Section 150, 151
4.
Register of debenture holders
Section 152
5.
Foreign Register of members

6.
Minute book of General Meeting.
Section 195
7.
Register of contracts in which directors are interested.
Section 301
8.
Register of directors share holding
Section 307
9.
Register of directors, Managing Director, Manager,Secretary
Section 303
10.
Register of loans and investments
Section 372A

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