The Ministry of Corporate Affairs issued Companies (Management and Administration) Second Amendment Rules, 2014 dated 24.07.2014 giving a sense of big relief to the companies w.r.t. Compulsory maintenance of registers and records in electronic form under Companies Act, 2013 as it was probing as an obstacle for the companies because of lack of clarity on electronic maintenance.
Now this provision has been made optional for maintaining the registers and records in electronic form by the virtue of amendment in Rule 27 sub rule (1) and explanation as the word “shall”, the word “may” shall be substituted.
After this, now the companies can either choose to maintain the registers and records in electronic form or not.
