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        Case ID :
        Companies Law

        Maintenance of ‑ Keeping accounts on cash or receipts basis - Whether amounts to keeping proper books of account

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        Proper books of account: maintaining accounts on a cash or receipts basis does not satisfy company law requirements. Maintaining a company's accounts on a cash or receipts basis does not amount to keeping proper books of account under company law; recording only cash receipts is insufficient to satisfy the statutory requirement to maintain comprehensive accounting records reflecting transactions and the state of affairs.
                          Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
                            Provisions expressly mentioned in the judgment/order text.

                                Proper books of account: maintaining accounts on a cash or receipts basis does not satisfy company law requirements.

                                Maintaining a company's accounts on a cash or receipts basis does not amount to keeping proper books of account under company law; recording only cash receipts is insufficient to satisfy the statutory requirement to maintain comprehensive accounting records reflecting transactions and the state of affairs.


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