Minute Books Lost in Transit, Company Filed an FIR" — 22 Years of Records Gone Will the ROC Pardon the Company?

 Minute Books Lost in Transit, Company Filed an FIR" —

22 Years of Records Gone  Will the ROC Pardon the Company?

ROC Calcutta Vs Larisa Hotels & Resorts Limited

Section 118(11) casts a permanent obligation on companies to preserve their Minutes Books throughout their corporate existence

A 2018 management change triggered relocation of the corporate office from Kolkata to Delhi.

During transit of statutory records for the Delhi KMP's convenience, a vehicle carrying the Minutes Books got misplaced.

ROC held that the company is to strictly adhere to Section 118(11)'s permanent-preservation mandatory for minute’s book.

ROC levied a fine of

Company — ₹25,000

🔸 All 9 directors/officers (each) — ₹5,000

🔸 Total — ₹70,000

Key Takeaway:

Minutes Books carry a permanent retention obligation

 

# Your Compliance expert R V SECKAR, FCS, LLB 79047 19295,