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of <h1>Companies Act Section 118: Prepare and Sign Meeting Minutes in 30 Days, Non-Compliance Leads to Penalties and Imprisonment.</h1> Section 118 of the Companies Act, 2013 mandates that every company must prepare and sign minutes of all general meetings, Board of Directors meetings, and resolutions passed by postal ballot within thirty days. These minutes should provide a fair summary of proceedings and include appointments and directors' names, noting any dissenting opinions. The Chairman has discretion over the inclusion of certain matters, and the minutes serve as evidence of the recorded proceedings. Companies must follow secretarial standards, and non-compliance can result in penalties. Tampering with minutes is punishable by imprisonment and fines.
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