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of <h1>Section 190: Companies must keep directors' service contracts at registered office or face monetary penalties for non-compliance</h1> Section 190 mandates that every company, except private companies, must keep at its registered office either a written contract of service with its managing or whole-time director or, if not in writing, a written memorandum of its terms. These documents must be available for inspection by any company member without payment of a fee. Non-compliance with the requirement to maintain or allow inspection of such documents attracts a penalty of twenty-five thousand rupees on the company and five thousand rupees on each defaulting officer for every default.
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