Books of account to be kept by company.

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....mpanies engaged in production, processing, manufacturing or mining activities, such particulars relating to utilisation of material or labour or to other items of cost as may be prescribed, if such class of companies is required by the Central Government to include such particulars in the books of account:] Provided that all or any of the books of account aforesaid may be kept at such other place in India as the Board of directors may decide and when the Board of directors so decides, the company shall, within seven days of the decision, file with the Registrar a notice in writing giving the full address of that other place.] (2) Where a company has a branch office, whether in or outside India, the company shall be deemed to have comp....

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....f account for the entire period preceding the current year ^[11][together with the vouchers relevant to any entry in such books of account] shall be so preserved.] (5) If any of the persons referred to in sub-section (6) fails to take all reasonable steps to secure compliance by the company with the requirements of this section, or has by his own wilful act been the cause of any default by the company thereunder, he shall, in respect of each offence, be punishable with ^[12][imprisonment for a term which may extend to six months, or with fine which may extend to ^[13][ten thousand rupees], or with both]: Provided that in any proceedings against a person in respect of an offence under this section consisting of a failure to take reason....

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....ection (1). [2] The word "and" omitted by Companies (Amendment) Act, 1965, Act 31 of 1965, section 20 w.e.f. 15-10-1965. [3] Inserted by The word "and" omitted by Companies (Amendment) Act, 1965, Act 31 of 1965, section 20 w.e.f. 15-10-1965. [4] Inserted by The word "and" omitted by Companies (Amendment) Act, 1965, Act 31 of 1965, section 20 w.e.f. 15-10-1965. [5] Substituted by the Companies (Amendment) Act, 1988, section 29, w.e.f. 15-6-1988 for sub-section (3) which read as follows: "(3) For the purposes of sub-sections (1) and (2), proper books of account shall not be deemed to be kept with respect to the matters specified therein, if there are not kept such books as are necessary to give a true and fair view of the state....

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.... [17] Omitted Clause (b) and (c) by the Companies (Amendment) Act, 2000, w.e.f. 13-12-2000. Prior to omission, clause (b) and clause (c) were amended by the Companies (Amendment) Act, 1960, Act, 65 of 1960, as provisions relating to managing agents, etc. had become redundant after abolition of system by Act 17 of 1969. [18] Omitted Clause (b) and (c) by the Companies (Amendment) Act, 2000, w.e.f. 13-12-2000. Prior to omission, clause (b) and clause (c) were amended by the Companies (Amendment) Act, 1960, Act, 65 of 1960, as provisions relating to managing agents, etc. had become redundant after abolition of system by Act 17 of 1969. [19] Substituted by the Companies (Amendment) Act, 2000, w.e.f. 13-12-2000. Prior to its substitution, ....