Statutory register u/s 372a(5)

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Arun Jaiswal

89 Points Joined October 2009

Dear all members,

ABC Ltd. is a NBFC listed company.

The main oblect of the company is to caryy on and undertake the business of a company established with object of financing industrial enterprises within the meaning of section 370 of the Companies Act, 1956and to undertake the business of arranging, managing and/or providing venture capital, seed capital, risk capital or promoters capital loans, advance guarantees and oyher means of financial intermediation with or without security tom existing or proposed industrial, commercial or trading enterprise whether a corporate or a non-corporate body, individual or a group whether promoted by this company or within the same management or not and to promote directly or indirectly industry, trade and commerce nationally or internationally either individually or in association, co-operation, collaboration or participation with evaluation and/or identification of projects and development or revival or constitution or reconstitution of business.

To carry on the business as Finance & Investment Company and to invest in and acquire and hold, sell purchase or otherwise deal in shares stocks, debentures stocks, bonds obligations and securities issued or guaranteed by any company.................

The Company was incorporated in the year 1995 and no register u/s 372A(5) is made till date.

My question, is it mandatory to the above mentioned company to maintain register u/s 372A(5)

Waiting for early reply.

Thanks in advance.

Regards

Arun Jaiswal

Replies (3)

pramod yadav

Company Secretary

150 Points Joined February 2011

Mandatory Statutory Registers under Companies Act, 1956

1. Register of Investments not held by company in its own name u/s 49(1)

2. Register of fixed deposit under Acceptance of Deposit Rules, 1975

3. Register of Securities bought back u/s 77A.

4. Register of Charges u/s 143.

5. Register & Index of Members u/s 150 & 151.

6. Register of Debenture holders u/s 152

7. Register of Beneficial Owner u/s 152A.

8. Register of Foreign Members u/s 157.

9. Processdings of General & Board Meetings (Minutes) u/s 193.

10. Books of Accounts u/s 209

11. Cost Records u/s 209(1)(d).

12. Register of Contracts in which Directors are interested u/s 301.

13. Register of Directors, Manager & Secretary u/s 303.

14. Register of Directors’ Shareholding u/s 307.

15. Register of Inter Corporate Loans & Investments u/s 372A.

16. Register of Renewed & Duplicate Share Certificate.

pramod yadav

Company Secretary

150 Points Joined February 2011

Mandatory Statutory Registers under Companies Act, 1956

1. Register of Investments not held by company in its own name u/s 49(1)

2. Register of fixed deposit under Acceptance of Deposit Rules, 1975

3. Register of Securities bought back u/s 77A.

4. Register of Charges u/s 143.

5. Register & Index of Members u/s 150 & 151.

6. Register of Debenture holders u/s 152

7. Register of Beneficial Owner u/s 152A.

8. Register of Foreign Members u/s 157.

9. Processdings of General & Board Meetings (Minutes) u/s 193.

10. Books of Accounts u/s 209

11. Cost Records u/s 209(1)(d).

12. Register of Contracts in which Directors are interested u/s 301.

13. Register of Directors, Manager & Secretary u/s 303.

14. Register of Directors’ Shareholding u/s 307.

15. Register of Inter Corporate Loans & Investments u/s 372A.

16. Register of Renewed & Duplicate Share Certificate.

Arun Jaiswal

89 Points Joined October 2009

Thank you Pramodji,

As I have mentioned that the main oblect of the company is to caryy on and undertake the business of a company established with object of financing industrial enterprises within the meaning of section 370 of the Companies Act, 1956 and to carry on the business as Finance & Investment Company and to invest in and acquire and hold, sell purchase or otherwise deal in shares stocks, debentures stocks, bonds obligations and securities issued or guaranteed by any company....

It is given in section 372A(8) that the provision of this section shall not apply to:-

-a company established with object of financing industrial enterprises

-a company whose principal business is the acquisition of shares, stock, debentures or other securities

Now my question is- is it mandatory to pass Special Resolution.

As per section 372A(8) the provision of this section shall not apply to NBFC company.

As I have already mentioned that till date no register of investment is made and there is no record of passing Board Resolution sanctioning the investment, only tally data is available regarding the payment made to the companies whose shares are purchased.

My problem is what date should I mention under the column Date of approval by the Board of Directors

Thanks in advance

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