Section 88 of CA 2013 : Section 88: Register Of Members, Etc

Explanation using Example

Imagine a company named "Bright Future Tech Pvt. Ltd." that has issued equity shares and debentures. According to Section 88 of The Companies Act, 2013, the company is required to maintain:

• A register of its members, including details of equity shareholders, with separate sections for those residing in India and those abroad.
• A register of debenture holders.
• An index of names for easy reference in these registers.

If "Bright Future Tech Pvt. Ltd." has foreign shareholders, it may also maintain a foreign register in the country where these members reside, if allowed by its articles of association.

Failure to maintain these registers or the index could result in a penalty of three lakh rupees for the company and fifty thousand rupees for each defaulting officer.