Register of Directors’ Share holdings

The company shall within 30 days from the date of first appointment of directors or from the date of any change in the directorate, send to the Registrar a return in duplicate in the prescribed form containing particulars of such appointment or change in directorate [Sub-sec. In case default is made in complying with the aforesaid provisions, the company
and every officer of the company in default, shall be punishable with fine up to Rs.
.. 500’ for every day during which the default continues [sub-sec.(3)].
Register of Directors’ Share holdings (Sec. 307)
‘Section 307 requires every company to keep a register showing each director’s shareholding in the company, giving details as to the number, description and amount of shares and debentures. These details are also required to be given .in respect of a dirtor’s holding in any other body corporate, being the company’s subsidiary or holding company, or a subsidiary of the company’s holding company. Such shares and debentures may be held by the director or in trust for him, or of which he may have any right to become holder whether on payment or not.
Where any shares or debentures have to be recorded in the said register or to be omitted therefrom, in relation to any director, by reason of a transaction entered into after the commencement of this Act and while he is a director, the register shall also show the date of, and the price or other consideration for, the transaction [Sub-sec:(2)].
However, where there is an interval between the agreement for any such transaction and the completion thereof, the date so shown shall be that of the agreement [Provisions to sub-sec.
If a director so requires, the nature and extent of any interest or right in or over any shares or debentures recorded in relation to a director in the said register shaJI be indicated in the register [Sub-section (3)].
Place of Keeping the Register and its Inspection. The register, as aforesaid, shall be kept at the registered office of the company. It shall be open to the inspection of any member or debentureholder of the company during business hours for not less than 2 hours each day during the period of 14 days before the date of the company’s annual general meeting and three days after the date of its conclusion. During this or any other periThe Central Government or Registrar may, at any time, require a copy of the register or any part thereof [Sub-sec. (6)]. It shall also be produced at the commencement of every annual general meeting of the company and shall remain open and accessible quring the continuance of the meeting to any person entitled to attend the meeting. If default is made in complying with the provisions of this sub-section, the company and every officer of the company, who is in default, shall be punishable with fine which may extend to Rs. 5,000”.