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of <h1>Companies Act Section 196: Minute Books Must Be Accessible to Members; Non-compliance Leads to Fines.</h1> Section 196 of the Companies Act, 1956 mandates that minute books of general meetings held from January 15, 1937, onwards must be kept at the company's registered office and be available for inspection by any member during business hours, subject to reasonable restrictions. Members can request copies of these minutes for a prescribed fee, to be provided within seven days. If inspection or provision of copies is refused, the company and responsible officers face fines up to five thousand rupees. The Central Government can order immediate compliance in cases of refusal or default.
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