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Does the Companies Act 2013 require mandatory maintenance of all the registers in electronic form. Further, should the entries made in the Registers prior to 31st March 2014 also need to be re-entered in the new format under the Companies Act 2013.

Compliances

Posted By: Arun kumar 10 year(s) ago

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    SSK

Please refer Section 120 (Chapter VII) and rule 27(1) and explanation made thereunder. Every listed compay and company having minimum 1000 securityholders have to comply with this provision. Further the explanation contemplates that the data shall be converted from physical mode to electronic mode within 6 months from the date of notification of Section 120.

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Expert    Ankit Singhi

Yes. It is not clear whether from which date the records to be converted In respect of register if investment u/s 186, it is clarified that entries in electronic will be made from 1st April 2014. So keeping in view this clarification , it can be assumed all other register have to converted before 1st April 2014. Please also check the time period for which registers were required to preserved under 1956 Act before initiating the conversion

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