Inspection of minute book

    Posted By : Aakanchha Vyas / Published on : 21-Oct-2017 10:03 AM / View : 722 / Comment : 5
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    As mentioned in Guidance Note on SS-1 " The company secretary in practice appointed by the company, the secretarial auditor, cost auditor, or internal auditor of the company can inspect the minutes as he may consider necessary for the performance of his duties." My Query is:- What is the meaning of word "Inspect"? Whether the secretarial auditor, cost auditor or internal auditor of the company can demand for the physical copies of minutes? Whether company is obliged to provide the same?
    Read more on : book minute inspection

    • Hi Aakanchha,

      According to Revised SS-1, Inspection of Minutes Book may be provided in physical or in electronic form. 

      Coming to your concern as to whether the secretarial auditor, cost auditor or internal auditor of the company can demand for the physical copies of minutes and company is obliged to provide the same. 

      To my understanding and as I get the interpretation of the Law, Company has to privide it in hardcopies too (if asked for) considering the fact that it is not tampered at company's officials shall be present over there. 

      SS-1 reads as below:

      While providing inspection of Minutes Book, the Company Secretary or the official of the company authorised by the Company Secretary to facilitate inspection shall take all precautions to ensure that the Minutes Book is not mutilated or in any way tampered with by the person inspecting.

      21-10-2017 / 04:42:14 AM
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    • Is there any penal provisions, if company refuse to provide the physical copies of the minutes.

      21-10-2017 / 04:51:30 AM
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      • To my understanding, my answer is NO. 

        If company refuses to provide the physical copies of the minutes, there can not be any penal provision because SS-1 says:

        Inspection of Minutes Book may be provided in physical or in electronic form.

        But yes, not even providing in electronic format may be considered wilful intention to hide material facts.

        21-10-2017 / 05:00:00 AM
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    • Thank you so much.

      21-10-2017 / 05:36:01 AM
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      • You are most welcome.

        Keep participating CS Aakanchha Vyas.

        21-10-2017 / 05:59:32 AM
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