What is Consequences of not maintaining the Minutes Book?
Nexa Consultancy | Startup & Finance Glossary
Every company must maintain a Minutes Book for all board and general meetings. It is the official record of the decisions taken. Failure to maintain it properly can lead to penalties and is a major red flag during due diligence.
Startup Example: During a due diligence, an investor's lawyer asks to inspect the Minutes Book. The startup only has scattered notes, which raises serious concerns about its corporate governance.
Our secretarial services include the preparation and maintenance of the Minutes Book.