Write notes on the following: Keeping documents, records, registers, minutes, etc., of the company in electronic form
CS Professional · Advanced Company Law and Practice · PYQS · December 2015
Write notes on the following: Keeping documents, records, registers, minutes, etc., of the company in electronic form
Answer & Explanation:
According to Section 120, the documents, records, registers, minutes etc. may be kept and inspected in electronic form. Rule 27 of Companies (Management and Administration) Rules, 2014 initially mandated every listed company or a company having not less than one thousand shareholders, debenture holders and other security holders may maintain its records, as required to be maintained under the Act or rules made thereunder, in electronic form. According to Rule 27(2), the records in electronic form shall be maintained in such manner as the Board of directors of the company may think fit, provided that - the records are maintained in the same formats and in accordance with all other requirements as provided in the Act or the rules made there under; the information as required under the provisions of the Act or the rules made there under should be adequately recorded for future reference; the records must be capable of being readable, retrievable and reproducible in printed form; the records are capable of being dated and signed digitally wherever it is required under the provisions of the Act or the rules made thereunder; the records, once dated and signed digitally, shall not be capable of being edited or altered; the records shall be capable of being updated, according to the provisions of the Act or the rules made there under, and the date of updating shall be capable of being recorded on every updating.
Topics: Records & Registers
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