119. Inspection of minute-books of general meeting.
(1) The books containing the minutes of the proceedings of any general meeting
of a company or of a resolution passed by postal ballot, shall—
(a) be kept at the registered office of the company; and
(b) be open, during business hours, to the inspection by any member without
charge, subject to such reasonable restrictions as the company may, by its articles or
in general meeting, impose, so, however, that not less than two hours in each business
day are allowed for inspection.
(2) Any member shall be entitled to be furnished, within seven working days after he
has made a request in that behalf to the company, and on payment of such fees as may be
prescribed, with a copy of any minutes referred to in sub-section (1).
(3) If any inspection under sub-section (1) is refused, or if any copy required under
sub-section (2) is not furnished within the time specified therein, the company shall be liable
to a penalty of twenty-five thousand rupees and every officer of the company who is in
default shall be liable to a penalty of five thousand rupees for each such refusal or default, as
the case may be.
(4) In the case of any such refusal or default, the Tribunal may, without prejudice to any
action being taken under sub-section (3), by order, direct an immediate inspection of the
minute-books or direct that the copy required shall forthwith be sent to the person requiring it.