Is it necessary to bind the minute book

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

27 August 2010 Some says we can use minute book folder by "TAXPRINT" in which minutes can be printed by a computer and can be filed using a key provided with the folder.

But some says even then you have to remove the minutes printed and then get them binded periodically as per companies act.

As per my knowledge earlier it was mandatory to maintain handwritten minutebook but not one can use this folder by "TAXPRINT" with a key to print and file the minutes, and it is not necessary to bind the minutes

Jagruti (CS)

Jagruti (CS) (Expert)
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27 August 2010 As per Sec 193 of the Companies Act, the minutes of every meeting need to be recorded in book and not to be kept loose or pasted.

The Tax print minutes binder are general practise. But after certain period u need to get the minutes Binded once finalise.

As in court of Law the loose minutes kept in Binder are not recognised as Minutes & therefore need to be binded.

Ankur Garg

Ankur Garg (Expert)
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27 August 2010 Agree with expert.

It is all about acceptability of minute books in court of law as an evidence. So get them bind after a reasonable interval/period.

Regards

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Querist : Anonymous

Querist : Anonymous (Querist)

27 August 2010 Thanks for the reply.

What should be the period of binding, and does this mean that till the minutes are not binded during this period it will be considered against the law.

Also since to bind the minutes you need to remove the pages from the binder, will this amount to manipulation similar to section 193 1B where pasting is not allowed.

Rasesh

Rasesh (Expert)
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27 August 2010 Ideally minutes book should be bound every year (Apr to March). Once binding is done, the pages should be serially numbered, if not already numbered.

It will not amount to manipulation.

Querist : Anonymous

Querist : Anonymous (Querist)

27 August 2010 Thanks to all the experts for the replies

But some more Qs on it
1) If the period is 1year and for a small company there are 5-6 meeting in a year, it will be difficult to bind this.
2) and since there will be small bindings yearwise, it is possible to manipulate the entire year minutes, as the full year minutes can be reprinted and binded again, will the law accept this?

Rasesh

Rasesh (Expert)
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27 August 2010 Infact, binding at short intervals is easier.

In small companies, manipulation is always possible even if you bind Minutes for 5 years.