State the importance of Minutes.

1.	State the importance of Minutes.
Answer» The importance of Minutes are as follows: Official record: Minutes provide a ready reference to all the activities related to the meeting. It is the most important, official, and authentic record on which people can trust. Evidence: Minutes can be used as prima facie evidence in a court of law. Future reference: Minutes is a permanent record. It can be used for taking future managerial decisions. Legal provisions: Minutes are prepared in order to comply with the provisions of the Companies Act and Secretarial Standard. Information to absent members: Minutes help the absent members to know the proceedings of the meeting, as it is not always possible for everyone to attend the meeting. Reminder: The matters discussed at the meeting are noted down in minutes. It acts as a reminder to the concerned people. Information about resolution: The motion and discussion on the motion are reflected in the resolution. Interested parties can always refer to the text of a resolution when there is contradiction or confusion. Inspection of Minutes: As per the Companies Act, Minutes Book should be kept at the registered office of the company and every member has right to inspect the Minutes book at the general meetings.

Answer»

The importance of Minutes are as follows:

Official record: Minutes provide a ready reference to all the activities related to the meeting. It is the most important, official, and authentic record on which people can trust.
Evidence: Minutes can be used as prima facie evidence in a court of law.
Future reference: Minutes is a permanent record. It can be used for taking future managerial decisions.
Legal provisions: Minutes are prepared in order to comply with the provisions of the Companies Act and Secretarial Standard.
Information to absent members: Minutes help the absent members to know the proceedings of the meeting, as it is not always possible for everyone to attend the meeting.
Reminder: The matters discussed at the meeting are noted down in minutes. It acts as a reminder to the concerned people.
Information about resolution: The motion and discussion on the motion are reflected in the resolution. Interested parties can always refer to the text of a resolution when there is contradiction or confusion.
Inspection of Minutes: As per the Companies Act, Minutes Book should be kept at the registered office of the company and every member has right to inspect the Minutes book at the general meetings.

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