[Notification Date: 26.03.2014; Effective from: 01.04.2014]
Section 170- Register of directors and key managerial personnel and their shareholding. [Corresponds to Section 303, 307 of the Companies Act, 1956]; [Relevant Rule: 17, 18 of The Companies (Appointment and Qualification of Directors) Rules, 2014]
(1) Every company shall keep at its registered office a register containing such particulars of its directors and key managerial personnel as may be prescribed - [Rule 17], which shall include the details of securities held by each of them in the company or its holding, subsidiary, subsidiary of company’s holding company or associate companies.
(2) A return containing such particulars and documents as may be prescribed - [Rule 18], of the directors and the key managerial personnel shall be filed with the Registrar within thirty days from the appointment of every director and key managerial personnel, as the case may be, and within thirty days of any change taking place.
Section 170 shall not apply to a Government Company in which the entire share capital is held by the Central Government, or by any State Government or Governments or by the Central Government or by one or more State Governments- vide Notification F No 1/2/2014-CL.V dated 05.06.2015.
[In sub-section (2, the word "thirty days" be read as " sixty days" for the unlisted public company which is licensed to operate by the Reserve Bank of India or the Securities and Exchange Board of India or the Insurance Regulatory and Development Authority of India from the International Financial Services Centre located in an approved multi services Special Economic Zone set-up under the Special Economic Zones Act, 2005 (28 of 2005) read with the Special Economic Zones Rules, 2006 -Notification G.S.R. 08(E) dated 04.01.2017]