88. Register of members, etc.
(1)Every company shall keep and maintain the following registers in
such form and in such manner as may be prescribed, namely: - (a)register of members indicating separately for each class of equity and preference shares held by
each member residing in or outside India; (b)register of debenture -holders; and (c)register of any other security holders. (2)Every register maintained under sub -section ( 1) shall include an index of the names included therein. (3)The register and index of beneficial owners maintained by a depository under section 11 of the
Depositories Act, 19 96 (22 of 1996), shall be deemed to be the corresponding register and index for the
purposes of this Act. (4)A company may, if so authorised by its articles, keep in any country outside India, in such manner
as may be prescribed, a part of the register re ferred to in sub -section ( 1), called “foreign register ” containing
the names and particulars of the members, debenture -holders, other security holders or beneficial owners
residing outside India.
5[(5) If a company does not maintain a register of members o r debenture -holders or other security
holders or fails to maintain them in accordance with the provisions of sub -section ( 1) or sub -section ( 2), the