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of <h1>Companies Must Maintain Register for Directors' Interests Under Sections 184(2) or 188; Penalties for Non-Compliance Apply</h1> Every company must maintain a register detailing contracts or arrangements involving directors' interests as per sections 184(2) or 188. This register must be presented at the next Board meeting and signed by attending directors. Directors and key managerial personnel must disclose relevant interests within 30 days of appointment or resignation. The register should be accessible at the company's registered office during business hours and at annual general meetings. Exceptions include contracts below five lakh rupees or standard banking transactions. Non-compliance by directors results in a penalty of twenty-five thousand rupees.
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