Circular of the Industries and Commerce Department, Government of Kerala dated 15th September, 1986 on section 7 of the Kerala Chitties Act, 1975 [C10-MXC]

F. No. 26/72/1986-MINI

Government of Kerala

Industries and Commerce Department

dated the 15th September, 1986

To

All Registrars of Companies and all Tribunals

Subject: Section 7 of the Kerala Chitties Act, 1975 (Kerala Act 23 of 1975), the management of a company, regarding.

1. References have been received in the Industries and Commerce Department, Government of Kerala seeking clarification on the manner in which section 7 of the Kerala Chitties Act, 1975 (Kerala Act 23 of 1975) (hereinafter referred to as the Act) is to be applied to directors who undertake the management of a company at more than one place.

2. The matter has been examined. Section 7 of the Act requires every director to maintain the records and registers prescribed and to furnish the return within the period stated in that section.

3. It is, accordingly, clarified that separate records shall be maintained in respect of each place at which the management of a company is undertaken, and a single return covering all such places shall be furnished in accordance with section 7 of the Act and the rules made thereunder.

4. Difficulties, if any, in the implementation of this circular may be brought to the notice of the Industries and Commerce Department, Government of Kerala.

(Under Secretary to the Government of Kerala)