What is Inspection of minute-books of general meeting What is Maintenance and inspection of documents in electronic form Section 119 and 120 of Indian Companies Act 2013

Inspection of minute-books of general meeting and Maintenance and inspection of documents in electronic form are defined under Section 119 and 120 of Indian Companies Act 2013. Provisions under these sections are:

Section 119 of Indian Companies Act 2013 "Inspection of minute-books of general meeting"

(1) The books containing the minutes of the proceedings of any general meeting of a company or of a resolution passed by postal ballot, shall -

(a) be kept at the registered office of the company; and

(b) be open, during business hours, to the inspection by any member without charge, subject to such reasonable restrictions as the company may, by its articles or in general meeting, impose, so, however, that not less than two hours in each business day are allowed for inspection.


 

(2) Any member shall be entitled to be furnished, within seven working days after he has made a request in that behalf to the company, and on payment of such fees as may be prescribed, with a copy of any minutes referred to in sub-section (1).

(3) If any inspection under sub-section (1) is refused, or if any copy required under sub-section (2) is not furnished within the time specified therein, 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 such refusal or default, as the case may be.

(4) In the case of any such refusal or default, the Tribunal may, without prejudice to any action being taken under sub-section (3), by order, direct an immediate inspection of the minute-books or direct that the copy required shall forthwith be sent to the person requiring it.

Section 120 of Indian Companies Act 2013 "Maintenance and inspection of documents in electronic form"

Without prejudice to any other provisions of this Act, any document, record, register, minutes, etc., -

(a) required to be kept by a company; or

(b) allowed to be inspected or copies to be given to any person by a company under this Act, may be kept or inspected or copies given, as the case may be, in electronic form in such form and manner as may be prescribed.

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