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Preservation of Old Records

05 April 2009

Can anyone please Suggest?

For how many years the following old records of a private limited company are required to be kept/preserved AND what formalities to be observed after destruction of the old records :-

Books of Accounts & Bills & Vouchers / BOD & AGM Minutes/Records Filed with ROC or MCA like Annual Returns with annexure, Return of allotments, Director, Appointments etc

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6 Replies

CMA KNVV Sri Vidya - Sri Kanth (C.A.Final (New) ICWAI FINAL (New)) (11269 Points)
Replied 05 April 2009

i think its 6 years

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CS Asmita Mehta (CS) (308 Points)
Replied 05 April 2009

its 8 years ( sec 209)

srilakshmi (ca final) (369 Points)
Replied 05 April 2009

8 years

Gargi Ranade (CS) (619 Points)
Replied 06 April 2009

Hi Devi Prasad ji

Section 209(4A) requires that books of accounts togther with vouchers must be preserved for minimum period of 8 years .

Section 160 and 161 provides that copies of all annual returns are required to be maintained for the minimum period of 8 years.

but as per my knowledge Minutes of BOM /AGM are required to be maintained for life time as minimum time period for the same is nowhere mentioned in the Comapnies Act,1956 similarly it is not given for ROC filing details ,It is my suggestion if it is possible maintained all statutory books for lifetime even ROC filing details should be kept forever at least in scanned copies as it may be required for refernce and submission at any time . though ROC is repository for all statutory filing records it requires to follow long procedure to get certified copies from ROC.

Ajay Mishra (Company Secretary) (74337 Points)
Replied 06 April 2009

Dear Devi Prasad Ji

As Per Section 209(4A) The books of account of every company for a period of 8 years immediately preceding the current year togather with the vouchers relevant to any entry in such books of account, shall be preserved in good order.

This sub section will applicable to all company whether public or private.

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HARDIK (COMPANY SECRETARY NCFM (Corporate Governance )) (664 Points)
Replied 08 April 2009

since accounts are required to be maintained for 8 years. However minutes and other records are required to be maintained from incorporation to till date.