Section 119 of the Companies Act, 2013
Section 119 of the Companies Act, 2013 – Inspection of Minute-books of General Meeting
Summary:
Section 119 provides for the right of members to inspect and obtain copies of the minute books of general meetings, and prescribes penalties for non-compliance.
Key Provisions:
Inspection of Minute Book:
The minute books of general meetings shall be kept at the registered office of the company.
They shall be open for inspection by any member during business hours, without charge.
Copy of Minutes:
Any member can request a copy of any minute by applying and paying the prescribed fee.
The company must send the copy within 7 working days from the date of receipt of request.
Penalty for Non-compliance:
If inspection is refused or copy not sent within the specified time:
The company shall be liable to a penalty of ₹25,000, and
Every officer in default shall be liable to a penalty of ₹5,000 for each such refusal or default.
Purpose:
To ensure transparency and provide members with access to the company’s decisions made in general meetings.
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