law: Companies Act, 2013 
  189.
  
    Register
  
  of contracts or arrangements in which directors are interested.
  1.      Every company shall
  
  keep one or more registers giving separately the particulars of all contracts
  
  or arrangements to which sub-section (2 ) of section 184 or section 188
  
  applies, in such manner and containing such particulars as may be prescribed
  
  and after entering the particulars, such register or registers shall be placed
  
  before the next meeting of the Board and signed by all the directors present at
  
  the meeting.
  2.      Every director or key
  
  managerial personnel shall, within a period of thirty days of his appointment,
  
  or relinquishment of his office, as the case may be, disclose to the company
  
  the particulars specified in sub-section (1 ) of section 184 relating to
  
  his concern or interest in the other associations which are required to be
  
  included in the register under that sub-section or such other information
  
  relating to himself as may be prescribed.
  3.      The register referred
  
  to in sub-section (1 ) shall be kept at the registered office of the
  
  company and it shall be open for inspection at such office during business
  
  hours and extracts may be taken therefrom, and copies thereof as may be
  
  required by any member of the company shall be furnished by the company to such
  
  extent, in such manner, and on payment of such fees as may be prescribed.
  4.      The register to be
  
  kept under this section shall also be produced at the commencement of every
  
  annual general meeting of the company and shall remain open and accessible
  
  during the continuance of the meeting to any person having the right to attend
  
  the meeting.
  5.      Nothing contained in
  
  sub-section (1 ) shall apply to any contract or arrangement—
  a.     
  
    for
  
  the sale, purchase or supply of any goods, materials or services if the value
  
  of such goods and materials or the cost of such services does not exceed five
  
  lakh rupees in the aggregate in any year; or
  b.    
  
    by
  
  a banking company for the collection of bills in the ordinary course of its
  
  business.
  1.     
  2.     
  3.     
  4.     
  5.     
  6.      Every director who
  
  fails to comply with the provisions of this section and the rules made there
  
  under shall be liable to a penalty of twenty-five thousand rupees.