Section 128(1) of the Companies Act, 2013 (“Companies Act”) requires all companies to prepare and keep books of account, other relevant books and papers and the financial statements of every financial year at their registered offices. However, the second proviso to Section 128 (1) of the Companies Act permits companies to maintain such books of account or other relevant papers in electronic mode. The operational modalities in relation to the maintenance of books of accounts and other relevant papers in electronic mode has been detailed in Rule 3 the Companies (Accounts) Rules, 2014 (“Companies Accounts Rules”).
Please click here to read the full article by Ajay G Prasad and Soham Roy, published in Mondaq.
Ajay is a corporate-commercial lawyer specializing in M&A, private equity & venture capital, corporate restructuring & reorganization. and general corporate advisory.