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of <h1>Section 189: Register of interested directors' contracts, disclosure duties, inspection rights, exemptions and penalties for noncompliance</h1> Section 189 mandates every company to maintain a register of contracts or arrangements in which its directors are interested, covering matters under section 184(2) and section 188, to be placed before the next Board meeting and signed by attending directors. Directors and key managerial personnel must disclose their interests in other associations within thirty days of appointment or cessation for inclusion in the register. The register must be kept at the registered office, open for inspection, available for extracts and copies to members, and produced at every annual general meeting. Limited exemptions apply for small-value transactions and routine banking collections. Non-compliant directors incur a monetary penalty.
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