# Maintenance of Documents in Electronic Form (Sec 120)
## 1. Permissive Rule
Any document, record, register, or minutes required to be kept/inspected/copied under the Act may be maintained in electronic form per Rules 27, 28, 29.
## 2. Who MUST Maintain Electronically?
- Listed companies, AND
- Companies with ≥ 1,000 shareholders / debenture-holders / security-holders.
## 3. Responsibility for Maintenance & Security
- MD, CS, or any director/officer designated by Board.
## 4. Inspection and Copies
- Available for inspection.
- Copies on payment of fees (max ₹10/page); must be a clear reproduction of the original.
## 5. Transition from Physical → Electronic
Existing companies convert records within 6 months of Sec 120's notification.
## 6. Standards for Electronic Records
| # | Requirement |
|---|---|
| a | Same formats as prescribed |
| b | Accurately recorded for future reference |
| c | Readable, retrievable, printable |
| d | Digitally signed and dated where required |
| e | Cannot be altered or edited after digital signing |
| f | Updated per Act; date of updating recorded |
'Records' includes register, index, agreement, MOA, minutes, or any document required under the Act.
## 7. Rule 28
Prescribes responsibility for security & maintenance of electronic records (access controls, audit trail, etc.).
## Quick Recall Box
- Mandatory: listed cos + cos with ≥ 1,000 holders.
- Transition window: 6 months.
- Copy fee cap: ₹10/page.
- Responsibility: MD / CS / designated officer.
- Key rule: No editing after digital signing.