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welcome to one minute class in this class we are going to be studying inspection of General Meeting minutes book in one minute the countdown starts now section 119 of the Companies Act says that the minute book should be kept in the registered office of the company the minutes book can be inspected by the members during the business hours of the company free of charge the members of the company can ask for copies of the general meeting minutes and that has to be given within seven days to the members if the company refuses for inspection of the general meeting minutes book or does not give the copies to the member the penalty is 25,000 for the company and 5,000 for every officer in default for each offense for example if ten members asked and it was refused the penalty will be 2.5 lakhs for the company and for every officer it will be 50,000 in case of default the NC LT can ask for immediate inspection and ask the copy to be sent to the members extract of the minutes can be given after
