Loan Register

ROC Loan Register

What is Loan register?

Every company giving loan or giving guarantee or providing security or making an acquisition of securities shall, from the date of its incorporation, maintain a register in Form MBP 2 and enter therein separately, the particulars of loans and guarantees given, securities provided and acquisitions made as aforesaid.

The following points to keep in mind when maintain loan register

• The entries in the register shall be made chronologically in respect of each such transaction within seven days of making such loan or giving guarantee or providing security or making acquisition.
• The register shall be kept at the registered office of the company and the register shall be preserved permanently and shall be kept in the custody of the company secretary of the company or any other person authorised by the Board for the purpose.
• The entries in the register (either manual or electronic) shall be authenticated by the company secretary of the company or by any other person authorised by the Board for the purpose.
• For the purpose of sub-rule (4), the register can be maintained either manually or in electronic mode.
• The extracts from the register maintained under sub-section (9) of section 186may be furnished to any member of the company on payment of such fee as may be prescribed in the Articles of the company which shall not exceed ten rupees for each page
• Every company which makes a loan, investment, guarantee or security shall maintain a register.
• The register shall contain the prescribed particulars and in the prescribed manner.
• The register shall be kept at the registered office of the company.
• The register shall be opened for inspection at the registered office of the company.
• The Copies of the register may be obtained by any member on payment of prescribed fees.
• Also, the extracts may be taken out from the register by any member on payment of prescribed fees
• The register shall be maintained in Form MBP – 2.
• The register shall be maintained with effect from the date of its incorporation.
• The register shall be preserved permanently.

The register shall be prepared with effect from the date of its incorporation