The provisions relating to the inspection of the books of minutes of general meeting are prescribed in the Section 119 of the Companies act 2013 and Rule 26 of the Companies (Management and Administration) Rules, 2014.
Extracts of the Minutes should be given only after the Minutes have been duly signed. However, certified copies of any Resolution passed at a Meeting may be issued even pending signing of the Minutes by the Chairman, if the draft of that Resolution had been placed at the Meeting.
A Company can charge such fee, as may be prescribed (but not exceeding Rs. 10 for each page or part of any page), on the Shareholder at the time of providing the Copy or Extracts of the Minutes of General Meeting, as requested by the Shareholder. (Rule 26 of the Companies (Management and Administration) Rules, 2014)
The payment mode can be anything be it by Cheque or Demand Draft or Cash.
SOFT COPY of Minutes: If a member requests for soft copy of minutes of any previous general meetings held during a period immediately preceding 3 financial years, it shall be furnished to him free of cost.
Note: There is no compulsion that the Shareholder has to do the inspection before asking for copies of it.
If company refuses to facilitate inspection of the minutes by the member, or the copy of minutes was not provided within the prescribed time, the following penalty is applicable:
- Company shall be liable to a penalty of Rs. 25,000 and
- Every officer of the company who is in default shall be liable to a penalty of Rs. 5,000 for each such refusal or default, as the case may be.
Tribunal may, in case of any such refusal or default, by order, direct an immediate inspection of the minute-books or direct that the copy required shall forthwith be sent to the person requiring it.