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CS Professional · Compliance Management, Audit and Due Diligence · Documentation and Maintenance of Records

Rohit, a company secretary, certifies that Vedant Foods Ltd maintains its minutes only in electronic form. Which concern would be a valid compliance observation under Section 120?

Minutes are expressly covered by Section 120 and may be kept electronically. The valid check is whether the electronic records follow the prescribed form and manner. Section 120 does not bar minutes, nor does it require filing them with the Registrar.

  1. AMinutes cannot be electronic because Section 120 excludes them
  2. BElectronic form is allowed only for registers, not for minutes
  3. CThe company must also file each minute with the Registrar under Section 120
  4. DThe electronic records must be kept in the form and manner prescribed, so the certification should check conformity with those rulesCorrect

Explanation

Section 120 expressly includes minutes among items that may be kept electronically, but only in the prescribed form and manner. Hence the proper check is conformity with the rules. Section 120 does not require filing of minutes with the Registrar.

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