Crescent (Pvt.) Ltd. has its registered office at Mumbai and project office at Pune where the books of account have been kept. The company has sought financial assistance from the bankers who have agreed to grant loan su

Section 128(1) requires every company to prepare and keep the books of account and other relevant books and papers and financial statements at its registered office. However, all or any of the books of accounts may be kept at such other place in India as the Board of directors may decide. When the Board so decides the company is required within seven days of such decision to file with the Registrar a notice in writing in Form No AOC 5 giving full address of that other place. In the given case the books of accounts are to be kept at the Registered Office i.e Mumbai. Keeping the books of accounts at Pune without intimating the Registrar of the same is not valid.