Yes what Labour Inspector said i.e. correct in your case.
You will register your company premisses CLR Act-1970 and you will apply for registration in form no-1 and the concerend security name and how many members are you deploying to the security purpose.
Principal employer once register no need to renew the registration.
Labour department wil issue the form -2 to you and after security company will apply for the licence in from no-4 and along with form no-5 to the concerened premisses after labour department will issue a licence to the concerened security. It will be renewed every year this is the responsiblity of the principal employer.
If you are not register Labour department will issue a show cauce notice the concerened comapny/ MD/CMD/Director/Who is ultimate controler.