[Notification Date: 26.03.2014; Effective from: 01.04.2014]

Section 171- Members' right to inspect. [Corresponds to Section 304 of the Companies Act,1956]

(1) The register kept under sub-section (1) of section 170:

(a) shall be open for inspection during business hours and the members shall have a right to take extracts therefrom and copies thereof, on a request by the members, be provided to them free of cost within thirty days; and

(b) shall also be kept open for inspection at every annual general meeting of the company and shall be made accessible to any person attending the meeting.

(2) If any inspection as provided in  clause (a) of sub-section (1) is refused, or if any copy required under that clause is not sent within thirty days from the date of receipt of such request, the Registrar shall on an application made to him order immediate inspection and supply of copies required thereunder.

Section 171 shall not apply to a Government Company in which the entire share capital is held by the Central Government, or by any State Government or Governments or by the Central Government or by one or more State Governments- Notification F.No 1/2/2014-CL.V dated 05.06.2015

 Section 304 Inspection of the register.

(1) The register kept under section 303 shall be open to the inspection of any member of the company without charge and of any other person on payment of one rupee for each inspection during business hours subject to such reasonable restrictions as the company may by its articles or in general meeting impose, so that not less than two hours in each day are allowed for inspection.

(2) If any inspection required under sub-section (1) is refused-

(a) the company, and every officer of the company who is in default, shall be punishable with fine which may extend to five hundred rupees; and

(b) the Central government or Tribunal ,as the case may be, may, by order, compel an immediate inspection of the register.