Other powers of court in relation to disclosure orders 812. Minutes are the evidence of the correct record of the decisions of a meeting. Minutes section 195 evidentiary value company law in. Responsibility of directors and officers to submit to tribunal audited books and accounts. Preferential issue under section 811a of the companies. Minutes in electronic form shall be maintained with timestamp. Section 209 books of account to be kept by company. Minutes of proceedings of general meetings and of board and other meetings.
Act means the companies act, 1956 1 of 1956, or any statutory. Articles means the articles of association of a company, as originally framed or as altered from time to time, including, where they apply, the. Section 25 companies under companies act 1956 legal news. Power to call for information, inspect books and conduct inquiries. Section 193 minutes of proceedings of general meetings and of board and other meetings.
Minutes of proceedings of general meeting, meeting of board of directors and other meeting. Section 296 application of section 295 to book debts in certain cases. The companies act was brought on the statute book with effect from 1st april. This chapter shall be known as the virginia nonstock corporation act or the act.
A detailed analysis of the provisions of section 209 and its implication on other related sections is brought out in this article. Companies act, 1956 1 of 1956 so repealed under section 465 of this act v such other. Minutes means the written record of the proceedings of a meeting. Section 9 act to override memorandum, articles, etc.
Act means the companies act, 1956 1 of 1956, or any statutory modification or reenactment thereof and includes any rules and regulations framed thereunder. A company may maintain its minutes in physical or in electronic form with timestamp. Draft articles of association with proposed amendments sun pharma. Thus, minutes has got its importance in the provisions of companies act 20 and secretarial standards issued by icsi as a statutory requirement for the corporates. A distinct minutes book shall be maintained for meetings of the board and each of its committees. Director duly authorized by the board for that purpose, in no case the minutes of the. Section 195 of companies act, 1956 says that where minutes of the proceedings of any general meeting of the company or of any meeting of its board of directors or of a committee of the board have been kept in accordance with the provisions of section 193, then, until the contrary is proved, the meeting shall be deemed to have been duly called and. Every company shall cause minutes of all the proceedings of every general meeting, to be kept. Explore the companies act 20 and companies act 1956. Inspection of minute books of general meetings companies act, 1956. No part of this publication may be translated or copied in any form or by any means.
Section 209 is one of the most important sections in the companies act, 1956. Court may grant exemption from requirements of disclosure order 811. Preferential issue under section 811a of the companies act, 1956. Construction of references in other acts to companies registered under companies consolidation act 1908 and act of. Nonapplication of section 223 to disposition made by way of book entry. All about minutes under section 118 of companies act 20. Construction of references in other acts to companies registered under companies consolidation act 1908 and act of 1963. This section deals with the requirements of maintenance of books of accounts and penalties for non compliance. Retail and hni investors can access the sales proceeds in minutes. Sections 193 to 196 provide the following rules regarding recording of the minutes. Companies act 1995 arrangement of sections to act 14 of 1995 page 3 c t companies act 1995 arrangement of sections section part i preliminary 21 1 short title and. Section 193 in the companies act, 1956 indian kanoon.
Rules regarding record of minutes under sections 193 to. The 20 act is divided into 29 chapters containing 470 sections as against 658 sections in the companies act, 1956 and has 7 schedules. Companies act 1956 schedule 14 citation 11771 bare act. Companies act, 1956 1 of 1956 so repealed under section 465 of this act. The advantages of section 25 companies over other companies registered under companies act are discussed below. An attempt as been made to provide the minutes of the board meetings as per the ss1 on board meetings, which is illustrates below. Sec 196 inspection of minute books of general meetings.1430 28 1005 1505 34 631 1124 201 738 832 1003 730 1026 1305 924 858 599 522 1139 1349 837 493 704 479 73 336 1310 420 195 228 1498 937 1359