As per Rule 3 of the Companies (Management & Administration) Rules, 2014 all the existing companies, registered under the Companies Act, 1956, shall prepare their register of members as per the provisions of section 88 of the Companies Act, 2013 within a period of 6 months from the date of commencement of Companies (Management & Administration) Rules, 2014.
Further after 1st April 2014, all the registers of Directors & KMPs shall be prepared as per the provisions of the section 170 of the Companies Act, 2013.
The register of directors & director’s shareholding maintained before 1 April, 2014 as per the provisions of the companies Act, 1956 need not to be converted as per the provisions of the section 170 of Companies Act, 2013.
The word ‘Company‘ is an amalgamation of the Latin word ‘Com’ meaning “with or together” and ‘Pains’ meaning “bread”. Originally, it referred to a group of persons who took their meals together. A company is nothing but a group of persons who have come together or who have contributed money for some common person and who have incorporated themselves into a distinct legal entity in the form of a company for that purpose.