Section 120 of the Companies Act, 2013
Section 120 of the Companies Act, 2013
Title: "Maintenance and inspection of documents in electronic form"
🔹 Summary of Section 120:
Section 120 allows companies to maintain and allow inspection of their statutory documents in electronic form, as per prescribed rules.
🔸 Key Points:
Electronic Maintenance:
A company may maintain its records, registers, and returns required under the Act electronically.
Inspection in Electronic Form:
These electronically maintained documents may also be made available for inspection in electronic mode.
As per Prescribed Manner:
Both the maintenance and inspection shall be done in the manner prescribed by the rules under the Act (particularly the Companies (Management and Administration) Rules, 2014).
🔹 Relevant Rule:
As per Rule 27 of the Companies (Management and Administration) Rules, 2014, electronic records must be:
In readable and retrievable form.
Kept secure with proper digital signature (if required).
Regularly backed up.
🔸 Purpose:
To modernize compliance and promote digital record-keeping, ensuring efficiency and accessibility.
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