law: Companies Act, 2013 
  190.
  
    Contract
  
  of employment with managing or whole-time directors.
  1.      Every company shall
  
  keep at its registered office,—
  a.     
  
    where
  
  a contract of service with a managing or whole-time director is in writing, a
  
  copy of the contract; or
  b.    
  
    where
  
  such a contract is not in writing, a written memorandum setting out its terms.
  1.     
  2.      The copies of the
  
  contract or the memorandum kept under sub-section (1 ) shall be open to
  
  inspection by any member of the company without payment of fee.
  3.      If any default is
  
  made in complying with the provisions of sub-section (1 ) or sub-section
  
  (2 ), the company shall be liable to a penalty of twenty-five thousand
  
  rupees and every officer of the company who is in default shall be liable to a
  
  penalty of five thousand rupees for each default.
  4.      The provisions of
  
  this section shall not apply to a private company.