Maintenance of Statutory Records in Electronic format
23 May 2015 • Kamini Goyal
Companies Act, 2013 provides for the maintenance of records in electronic format:-
Chapter VII i.e., Companies (Management and Administration) Rules, 2014 provides the manner in which the records shall be maintained in electronic form. Rules are summarized below:
Rule 27 of the Companies (Management and Administration) Rules, 2014, requires following Companies to maintain its records in electronic format:
- Every listed Company
- Co’s having not < 1000 security holders
Other Companies can choose to maintain their registers in e-form, and thus are required to follow the prescribed guidelines and rules prescribed below:
| Maintenance of Registers in E-form |
- To be maintained in same formats.
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- readily available for future reference
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- capable of being readable, retrievable and reproducible in printed form;
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- once dated & signed digitally, shall not be capable of being altered or edited
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- capable of being updated and that date shall be capable of being recorded on every updating
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Rule 28 of Companies (Management and Administration) Rules, 2014 provides for security of registers maintained in e-form:
Persons responsible: – MD, CS or any other director or officer as the Board may decide shall provide for:
| Security of registers |
- Protection against unauthorized access, alteration or tampering
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- Provision in case of loss of the record or failure of the media
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- Records should be kept in a non-rewriteable and non-erasable format like pdf. version or some other version which can not be altered.
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- Reproduction of non-electrical records in electronic form is complete, authenticate, true and legible
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| Back up |
- atleast one back up to be taken at a periodicity of not exceeding one day.
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- back up should be authenticated and dated
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- backups should be securely kept at such places as the Board may decide
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