Minutes is record of meeting or any official hearing in a Company . It is also called as protocols. These are mainly the written record of any official and influential gathering of a Company. Drafting and maintenance of minutes have traditionally been for a long time for Company secretary and have to Signed the Minutes it is a responsibility of Board .Minutes keeps a brief account of all the happenings and attendees of the gathering and are essentially required in certain legal registrations and procedures.
Minutes keeping is the responsibility of the Company Secretary. Companies even hire typists to maintain these minutes as they are obviously very essential. Books of minutes are maintained to keep a record of all minutes such as meetings like Board meetings, influential events and other types of events. Minutes are maintained by Chairman are reviewed by concerning authority.
Minutes maintained by under following guidelines as mentioned in The Companies Act. Detailed Points are mentioned in that how you can manage the minutes of your Company.
- Books of account should be recorded and maintained. A separate book should be maintained for Board meetings and related Committees.
- Minutes should be maintained in either physical or in electronic form
- Minutes can be maintained in loose-leaf form and should be bounded regularly.
- In Minute’s recording should be done systematically. Mentioning of the general content is done first and then the specific content is mentioned.
- Minutes should be recorded according to the proceedings of the meeting and It should be cent percent accurate. These are written in past tense and in third person form. However, resolutions are recorded in present tense.
- After the proper recording, minutes are circulated amongst all the directors within the of 15 days. Directors are allowed to make comments. These comments are then recorded in the minute’s book in the span of seven days from the circulation.
- These are signed by the Chairman of the specific or the next meeting along with the date and the place. If minutes are recorded electronically then it requires digital signing.
- Minutes can be inspected by any Director, Auditor or Company Secretary of the Company is allowed.
Negligence of minutes can lead to a penalty. In case a company has not appointed a company secretary. In that case, the duty can be passed on to any Company authorized figure. The minutes are kept at the registered office. In minutes special alteration is permissible but only after the review of the Chairman. Minutes is helpful while filing certain registrations but they help maintain a detailed description of every important meeting and events occurring in the Company.
Regiistratonwala helps you to Maintain Minutes of your Company