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Is it mandatory for a company to keep its documents, records, registers, minutes, etc. in electronic form?

Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 asked

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4 Answers
Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 answered

As per Section 120 the documents, records, registers, minutes may be kept and inspected in electronic form. As per Rule 27 of Companies (Management and Administration) Rules, 2014, it is mandatory for every listed company or a company having not less than one thousand share holders, debenture holders and other security holders, to maintain its records, as required to be maintained under the Act or rules made there under, in electronic form Existing companies shall convert their records from physical mode to electronic mode within six months from the date of notification of the provisions of Section 120 of the Act. Section 120 of the Companies Act, 2013 was notified on 1st April, 2014.

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Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 answered

Section 120 of the Companies Act, 2013 states that any document, register, record, minutes etc required to be kept by a company, or allowed to be inspected or copies to be given to any person by a company under the Act may be kept or inspected or copies given in electronic form. Rule 27 of the Companies (Management and Administration) Rules, 2014 prescribes that - Every Listed Company or a Company having not less than one thousand shareholders, debenture holders and other security holders, shall maintain its records in electronic form. Existing companies shall convert their records from physical mode to electronic mode within six months from the date of notification of the provisions of Section 120 of the Act. Section 120 of the Companies Act, 2013 was notified on 1st April, 2014.

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Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 answered

According to Section 120 the documents, records, registers, minutes may be kept and inspected in electronic form. As per Rule 27 of Companies (Management and Administration) Rules, 2014, it is mandatory for every listed company or a company having not less than one thousand share holders, debenture holders and other security holders, to maintain its records, as required to be maintained under the Act or rules made there under, in electronic form

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Open uri20170510 32134 s5bvk0?1494421637 answered

Dear Friend, as far as your query is concerned that Is it mandatory for a company to keep its documents, records, registers, minutes, etc. in electronic form? Let me informed that 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 share holders, debenture holders and other security holders to maintain its records, as required to be maintained under the Act or rules made there under, in electronic form. However, MCA has revised the rules namely the Companies (Management and Administration) Second Amendment Rules, 2014, and amended rule 27 as follows: - in rule 27, in sub-rule (1) and in the Explanation, for the word "shall", the word "may" shall be substituted. Therefore, the companies have now been given an option to maintain the records in electronic form. Hope answer was helpful to you Regards, Arjun Pratap Singh

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