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of <h1>Clause 118: Companies Must Prepare and Sign Meeting Minutes Within 30 Days or Face Penalties; Uphold Secretarial Standards.</h1> Clause 118 of the Companies Bill, 2011 mandates that companies must prepare and sign minutes of general meetings, Board of Directors meetings, and resolutions passed by postal ballot within thirty days. These minutes must provide a fair summary, include appointments, and list directors present and dissenting. The Chairman has discretion over content inclusion, excluding defamatory or irrelevant material. Properly kept minutes serve as evidence of proceedings. Non-compliance results in penalties for the company and its officers. Tampering with minutes can lead to imprisonment and fines. Companies must adhere to secretarial standards specified by the Institute of Company Secretaries of India.
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