preservation of books

ACC TO SECTION 209(4A) OF CO ACT, 1956 NOT LESS THAN 8 YEARS

Hi Ravi & Palak,

More appropriate would be -

"The books of accounts of every co. relating to a period of not less than eight years IMMEDIATELY PRECEDING THE CURRENT YEAR together with vouchers relevant to any entry in such books of accounts shall be preserved in good order".

But for a company that has been woundup, I belive the same logic can be applied on a conservative basis. Whether the legal position is the same or not, is not clear in the above.

Moreover, there are some records like the share certificates, transfer books, minutes books, certficate of inc and bus.commencement, which are permanent records as per law. So whether they have to be maintained life long, even after winding up of the company?

Hi Rasesh,

After winding up, the books of accounts & all other related records are inspected by Official Liquidator. Hence, the treatment to be given to books of accounts after winding up shall be in accordance with report given by Official Liquidator.