Last updated: 09/05/2019 15:26:28
KEEPING BOOKS OF ACCOUNT, ETC. OTHER THAN THE REGISTERED OFFICE OF THE COMPANY

Rule | Thumb Rule | Every company must keep its books of account, etc. at the registered office of the company. |
Exception | Board of directors had the power to keep books of account, etc. at a place other than the registered office of the company.
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Steps | The following steps should be followed for changing the place of books of account:
Step 1- Board of directors must hold Board Meeting (BM) Step 2 – In BM, the board resolution must be passed for changing the place of books of accounts (other than registered office) and must be approved. Step 3 – Must intimate to Registrar of companies (ROC) within seven days of the board meeting (File form AOC-5) Step 4 – Board of directors of the company must always keep books of account, etc. open during the business hours for inspection.
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Points to be remembered:
- All papers should be open for inspection which are maintained by the company within India at the registered office of the company.
- For maximum 8 years, the books of account must be kept in record by the company. (except in the case of investigation)
- If provisions have not complied, then every person in charge will be liable for imprisonment up to 1 year or with a fine of minimum₹ 50000 to maximum ₹ 500000 or both.

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