Section 120 of the Companies Act,2013 and Companies (Management and Administration)Rules,2014 deals with the Maintenance and Inspection of documents in electronic form.
Any document, record, register, minutes, etc are -
(a) required to be kept by a company; or
(b) allowed to be inspected or copies to be given to any person by a company under this Act, may be kept or inspected or copies given, as the case may be, in electronic form.
Is this provision mandatory or optional?
Since the words used in this Sec. are "may be kept", it is optional. In Rule 27, for specified companies earlier the words used were "shall maintain" indicating mandatory provision. However, now it has been changed to "may maintain". Hence it is optional now.
Naveen Fintech Pvt Ltd
Kolkata
CA Inter
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Gupta Sachdeva & Co. Chartered Accountants
New Delhi
CA Final
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