The National Company Law Tribunal (NCLT), Delhi organized a national level Colloquium on the subject "NCLT- The Road Ahead" today. Retd.Chief Justice Ramalingam Sudhakar (President, NCLT), Shri Rajesh Verma (Secretary, Ministry of Corporate Affairs) and Shri Ravi Mital (Chairman, Indian Bankruptcy Board of India (IBBI)) inaugurated the colloquium. Members of the Tribunal, both Judicial and Technical, representing 15 Benches across India also participated in the colloquium.
Chief Justice (Retd.) Ramalingam Sudhakar, in his address as the chief guest, said that India is envisioning a multi-trillion dollar economy. Industry and commerce, crucial in the nation's economy, are governed by Company Law besides other laws. He has further stated that the Government has come out with [Insolvency & Bankruptcy Code (IBC)] code to resolve corporate issues to enable corporates of India to compete with the world. NCLT is the guardian of the corporate law and each of the Members has a role to play in the economic growth of the country.
He concluded his address stating that one aspect for early resolution is the development of Artificial Intelligence technology for speedier dispensing of justice. He also suggested that AI can be used in case resolution, especially in admission of cases. Shri Rajesh Verma Secretary MCA, stated that NCLT is an institution of pride and it has led to faster resolution of corporate disputes under the Company Act and the IBC. Praising NCLT's performance during COVID-19, he said that NCLT disposed of about 62,000 cases out of about 83,000 cases filed before it, which include rescue of creditors, providing an orderly exit for companies under distress, helping creditors realize the value of their assets and behavioral change in both Creditors and Debtors. The IBC has been key in releasing entrepreneurship from honest business failures, which is important as we have the 3rd largest startup ecosystem in the world, he said. Shri Verma emphasized that the IBC Code has seen a roller coaster ride with six amendments have been made in the main legislation so far. He further stated that many provisions of IBC have come out unscathed when challenged (in the higher courts) and the Supreme Court of India had settled the jurisprudence on various aspects of this new law at an unprecedented pace and passion. He added that to enhance the effectiveness of IBC, introduction of a cross border insolvency framework in the IBC is being considered. Leveraging technology and filling up posts are two key factors in increasing the speed, he said.
Shri Mital, Chairman, IBBI, while addressing stated that there are two corner stones of the IBC viz timelines in process and the control being given to creditors as against Debtors. He stated that with more standardization, the speed of resolution of cases can be increased. He said that IBBI is always ready to collaborate with NCLT in simplification of the process of resolution. Inaugural session was followed by the technical session, where Shri Sudhakar Shukla, Whole Time Member, IBBI and Prof. Charan Singh, CEO, EGROW Foundation, also participated. Members of the Tribunal covered other area such as Admission of Petitions u/s 7 and 9 IBC, Oppression & Mismanagement, Avoidance Transactions, Insolvency & Voluntary Liquidation- Section 10 and Section 59, IBC, and Resolution Plan Approval etc.
The Delhi bench of the National Company Law Tribunal on Friday ordered bankruptcy proceedings against realty developer Supertech for default on payment of Rs 431 crore to a consortium of banks.
The NCLT appointed Hitesh Goel as the insolvency resolution professional (IRP) for Supertech, accepting a petition filed by Union Bank of India, one of the consortium members.
“We are satisfied that the present application is complete in all respects and the applicant financial creditor is entitled to claim its outstanding financial debt from the corporate debtor and that there has been default in payment of the financial debt,” the NCLT said in the order, a copy of which ET has seen.
According to the petition, Supertech had in 2013 availed of a credit facility of Rs 350 crore from the consortium of banks to part fund its Eco Village II project in Greater Noida. Union Bank’s exposure to the credit facility was Rs 150 crore.
As per the petition, Supertech was irregular in repaying the debt and completely stopped paying from July 2019. The amount claimed in the petition includes interest as well.
The company, which is in the process of demolishing two towers at another Noida project on a Supreme Court order, has multiple under-construction projects in the National Capital Region.
A lawyer, who represents around 1,500 homebuyers of various Supertech projects, said the homebuyers should immediately file their claims with the IRP. “This will enable them to ascertain their claim in the company and to be a part of the committee of creditors (CoC). Since all the crucial decisions of the company will now be taken after the due approval of the CoC, this will enable the homebuyers to be instrumental in revival of the company,” said Aditya Parolia, partner at PSP Legal.
Supertech said it would approach the appellate tribunal against the order.
“In the interest of homebuyers, preference was given to construction and delivery of projects over repayment of bank dues which can be fulfilled after project completion. As all the projects of the company are financially viable, there is no chance of loss to any party or financial creditor. The order will not affect operations of any other Supertech Group Company,” the company said in a statement.
Supertech also said the NCLT order would not impact the construction at its ongoing projects or the operation of the company.
“We have a strong record of delivering more than 40,000 flats during the last seven years and we shall continue to give delivery to our buyers under our “Mission Completion – 2022” under which we have undertaken a target of delivering 7,000 units by December 2022,” Supertech said.
Projects under other Supertech group companies like, Supernova, ORB, Golf Country,Hues, Azalia, Esquare, Valley, Basera, Metropolis Mall, Pentagon Mall and Hotels are not affected by this order, the company said.
An industry expert said the development would help push demand towards stronger developers. “Now buyers will avoid products from tier-2 and tier-3 developers and stick to projects by Grade-A players in order to avoid any execution risks. Definitely, smaller developers may henceforth find it difficult to get buyers for their projects,” said Prashant Thakur, senior director & head of research at property consultancy firm ANAROCK Group.
The financial year is about to come to an end. It is customary to go through an annual records management audit. Are you prepared? Why don’t you do a mock audit so that you can ensure you have everything about handling and storing files under control. Ensure your business follows the procedures for records management and meets the regulatory requirements of your industry.
What is a records audit?
A records audit formally reviews how your agency controls who recovers, changes, or owns a particular record. During this process, the auditor examines your files in light of both legal and practical terms and delivers a report detailing record retention or possible destruction.
What Happens after the Records Management Audit?
After the details and insights have been collected, the records management auditor will produce a records management audit report about how your business is effective as per the desired expectations in the records management cycle. The report will highlight what aspects of records management are functioning well and what needs to be improved along with valuable observations and insights on how to improve existing processes, save costs and minimize time spent in records management.
The auditor may recommend additional audits to keep tabs on whether the correct processes are being followed and to diagnose where improvements can be made for increased efficiency.
It is also a best practice that a business conducts records management audit frequently to ensure your records management meet its policies, procedures, and compliance.
Whatever is said and done, there’s always room for improvement when it comes to records management. By undergoing a records management audit, many strategic decisions can be made about having record backups, digitization of files, and optimizing costs of records storage.
Benefits of Running a Records Management Audit
Do you have an internal audit committee? The Audit team must comprise unbiased professionals who have a thorough understanding of records management, information management, and industry compliance requirements.
Take professional records management assistance. Consult KAYMAN Records Management Services.
Going paperless is become a movement and happening across many businesses now. Going Paperless truly transforms any organization to improve workflows and streamline records management, as digitization offers faster data retrieval, minimal errors, and fewer records storage costs. By going paperless your business is fast getting ready to conduct business in a modernized manner in a collaborative manner.
By going paperless, are we clear if we are referring to Digital Documents or Electronic documents? Do we all know the exact difference? Many of us use these terms digital and electronic interchangeably.
What are Digital Documents?
Digital documents are paperless. They are generated as a non-physical record or created as one by means of digitization of records. They can be easily manipulated when provided required privileges.
What are Electronic Records?
Electronic Records are static. They are mostly non-modifiable. File formats such as PDFs, Jpegs, and other scanned document formats. One can still manipulate them with a little more effort.
What’s the Difference between digital documents and Electronic Records?
Though ‘digital documents’ and ‘electronic records’ sound like the same thing, they too actually are not. Digital Documents are born digital. They can be easily exchanged with others and actively collaborated upon. Such digital documents carry updates as it moves along in the approval chain. Examples: E-Invoices, Payroll records, etc.
Electronic documents however are static and are often not easily manipulated. They are made to be compatible with electronics like computers and other gadgets. Examples are scanned documents, scanned images, scanned photographs, PDF Files, etc.
Caution while Digitizing Records
Digitizing records or creating electronic records – ensure you protect the privacy and integrity of data. Digital and Electronic documents are often easily manipulated with the increased awareness of computing and the availability of advanced tools. They are also vulnerable to any data breach, data theft, data leakage, etc. Necessary security audits, encryption of data, vaulting, security policies are important.
Examples of Digital Documents
Digital documents serve a variety of purposes, though some of the most common examples include personnel records, legal documents, internal communications, applications, and invoices.
1. Personnel records
Typically, the HR Function or Finance Function maintains Personnel records. Personnel records include details like employee’s application, job description, salary records. Hiring documents, performance reviews, and compensation records.
2. Legal documents
Documents like non-disclosure agreements, background checks, and medical records are legal in nature. It is advantageous to digitize these records as they are easily searchable, distributable, editable, and occupy lesser records storage space while providing a seamless experience for users.
3. Internal communications
Any records that are being circulated using computers internally that drive communication and collaboration are being referred to as digital documents. Examples like employee handbooks, circulars, and office communications like email, chats that can be shared within a few seconds.
4. Invoices
E-Invoicing eliminates the need to scan individual documents into systems saving time and cost for printing, packaging, and postage. Invoices travel across businesses, clients, banks, partners, and government bodies for tax filing and return filing processes.
Going digital is important. However, maintaining physical records or electronic records is important too as regulatory bodies demand hard copies to be stored for a certain number of years.
As you go along with your paperless journey, you need to clearly understand these finer details. Educate your employees and implement detailed records management standard operating protocols (SOPs). By partnering with a records management company you can handle your physical, electronic, and digital records in a unified manner.
Consult KAYMAN Records Management Services.
Documenting Peace of Mind.
It is indeed a big decision for any business to search, evaluate and finalize a trusted records storage provider. Because it involves a lot of due diligence, thinking and brainstorming before handing over Records Storage – the single most confidential function to an external services provider.
Let us help you with some of the key questions to ask your records storage and management vendor so that your decision making process is simplified a bit.
Here are ten questions to ask your prospective Records Storage Company.
The answer to this question is important as it will help you understand the experience of this records management company in storing and managing records in your region, industry etc. Records are stored and maintained for multiple years and it is a constantly evolving process. Only vendors with that number of years of expertise can offer you a reliable service in the long-term. Understand the leaders or founders of the business and their experience in information management, records management etc. Because merely a business can be run. But the passion of the founders in the respective business help them offer personalized service.
2. What is their knowledge and experience of storing records in your line of business?
Anyone can start a records storage business. But it is their knowledge and constant upskilling process that can get them adequate exposure and experience in the records-keeping compliance management. Each industry has its own records keeping compliance process. Only when they have handled similar clients, they will be able to support your business in the most appropriate and confident manner. Vendors who have multiple years of experience in storing and managing records can add tremendous value addition when it comes to safely avoiding troubles with compliance issues.
3. How are my records protected when they’re stored offsite?
The next biggest question comes to most of the clients are how secure their records will be at an offsite records storage facility. Today the market is so competitive that any leakage of confidential information will ruin a company’s trust and reputation once for all. Evaluate if the vendor has adequate security measures to take care of the records against physical, artificial and natural disasters.
Some record storage providers make you inventory and index your boxes before storing them. If you want to save time and hassle, partner with a records storage company that can inventory and index your boxes for you. Trained professionals can organize and index your records so you have an accurate offsite storage inventory.
5. How do I get my records offsite?
Another important question will be to understand how records will be safely transported from the company to records storage facility. Each and every time as per the agreed frequency, understand what kind of transportation system is available to collect, store, deliver documents. Also evaluate how secure this transportation system is? How records are packaged, loaded, monitored for tampering on the way etc. What kind of checklists and reports they produce from the point of pick up to delivery?
6. How long does it take for documents to be delivered?
Your business needs records on the go for swift decision making. Understand what are different options you have to request and receive your documents.
It makes a lot of sense to understand where your records will be stored. The location proximity or distance will influence the services to a great deal. Closer within city limits the real-estate costs are very high. The longer the facility the accessorial charges of each and retrieval records will be. If they provide scan-on-demand services, then locations don’t matter and it can offer you significant cost savings over many years.
8. Who can request for a file from your business?
Understand their standard protocols on how they grant access to your records repository. You will mostly agree with their approach if their processes are practical and standard. Avoid records storage service providers who don’t validate records requests. Understand how easy they are making the records retrieval request. Also how they are training those users to request for files.
9. How the pricing works?
Though it is not the only criteria, Of course pricing is definitely one of the factors in deciding a records storage provider. Is it per box or per file or based on the dedicated storage space you like to contract? What other factors that can influence the pricing? As time passes by, records keep getting generated in volumes and your cost of storage can climb multifold. Evaluate how the pricing works in an incremental manner. Understand their contract terms so that you won’t be surprised at a future timeline.
10. What value adding services do they offer?
Records storage is just one of the components of a comprehensive information management program of any organization. Understand if the records storage vendor himself can assist you in any of the services like media storage, document scanning, and shredding so that you have one vendor for your entire records management function.
We hope this blog post is useful to evaluate your current and prospective records management vendor. Go ahead and ask them if they can provide a FREE TRIAL for a short time frame. That way you will be confident of their ability to handle your volume of records.
Consult KAYMAN Records Management Services.
Documenting Peace of Mind.
When it comes to storing and managing your business records cost is definitely one of the deciding factors. But certainly, Cost is not just the single deciding factor. There is so much more than cost and convenience. Let’s take some of the important perspectives that help you get the right records storage vendor.
Safety, security, and the ability to produce a verifiable audit trail for your files are equally important considerations. A reliable professional records storage vendor can help your business achieve:
Focus on choosing the optimal vendor for your overall records management needs, not the cheapest.
Pricing
Price is often the single-most decisive factor that many clients use to decide on their records management vendors. But it is not the right way. Indeed, pricing is one of the important factors. To understand how exactly the pricing works. Is it based on Cubic Foot, price per Box, or the number of files, etc? Understand ancillary and accessorial charges, transportation, and account administration Fees.
Security
Good records management supports good data governance and data protection. Failure to handle records securely and inefficiently will lead to legal troubles and penalizing compliance issues. Records security also supports good governance. Understand how secure is your records storage facility vendor when it comes to handling:
Operational risk: If these records are compromised, what are the protocols that will be followed to ensure seamless business continuity.
Financial risk: Does the loss or theft of these records affect the ability to protect and document financial decisions or expenditures?
Reputational or image risk: If these records were released to the public, would it cause the company to lose its status as a reliable, effective, and accountable company?
Physical or security risk: Do these records contain sensitive information that, if in the wrong hands, could cause loss or damage to employees, the company, any physical building, or office?
Reliability
All records management professionals should already be very familiar with the definitions of authenticity, reliability, and integrity at the national and international levels. Demonstrating reliability is a very good influencing factor when it comes to choosing a records management vendor.
Timelines
How much time does your staff spend on retrieving records before taking decisions on an everyday basis? What are the timelines? What are the agreed SLAs? How effectively it is being followed? How consistent it has been over time? Make sure you have data on the above to understand the effectiveness and timeliness of your records management vendor.
Documentation
One of the important aspects when it comes to records management is documentation skills and templates. Documentation helps in attaining clarity across the enterprise and helps very much in the audit purposes. Check for different reports, templates and log details your records management vendor is providing.
Customer Service
Beyond all work-related matters, exemplary customer service is important for any service we take from vendors. Look at various channels with which they provide timely customer support. Are they working 24/7? (if your business has such a need). What kind of channels through which they make themselves available to be of service? Do they have ticketing systems and address customer queries in a systematic manner?
Flexible Contracts
Understand the standard contract, clauses, and their implications for the short-term and long-term. Especially if the contracts run over multiple years, that can indicate big trouble. Oftentimes, Record Storage Contracts have unreasonable charges for Permanent Withdrawal of Records. Such contracts will bind clients and levy unjustified or non-escapable fees. Also, look for any signs of Automatic-Renewal Clauses which make it clients difficult to ever get out of the contracts without having to go through an exhaustive exit process.
A lot of Records Management Service Contracts get stuck due to poorly defined and binding contracts that don’t allow customers to escape from unreasonable clauses. Kindly make sure you read and understand all clauses of your records management contract before signing them with confidence.
Are you in the process of beginning or renewing your records management contract? Take professional records management assistance. Consult KAYMAN Records Management Services.
Record keeping is basically the function of storing, managing and shredding business records in a secure manner for easy accessibility, reliability and security. Record keeping is highly beneficial but poor record keeping can also result in greater risks. The most obvious risk of not keeping proper records is that the business concerned will lose control over its most valuable asset - Information.
Imagine if decisions are made out of wrong information, stocks and fixed assets are stolen and not reported, important records are lost or misplaced, competitors get to know about your valuable move etc. Record Keeping – if not done right, the losses are irreparable. What’s worse? A business could lose the confidence of customers, attract fines or penal actions from legal or regulatory bodies, some businesses could even be shut down.
Here are a few other consequences of poor record keeping.
1.Improper utilization of Time and Space:
If records are not sorted out properly, countless hours of time could be spent in the process of unnecessarily sorting out messy file cabinets. This will result in loss of productivity and time as employees search for misfiled or lost records. The employees end up duplicating records or re-creating documents which may add burden to the already disturbed value chain.
Also, office space real estate is very expensive from a commercial point of view. If that prime real-estate is used to store mountains of paperwork, companies fail to utilize valuable resources appropriately. Other decisions such as in-house records storage or a rental house using employees who are not specialized in records management, increases the cost of records storage and brings down employee morale.
2. Disrupted Flow of information:
Records be it physical records or digital records, are the backbones of any functional organisation. Not maintaining proper records affects the seamless flow of information and communication across an organisation. This results in delayed decision making, complications with vendor-client relationships, missed business opportunities and irreparable financial losses.
Businesses then spend their time, attention and allocated resources on mending the information flow than progressively moving ahead towards the bigger picture envisioned. Especially at an era of VUCA – vulnerability, uncertainity, complexity and ambiguity businesses must focus on building organizational resilience to sustain growth and thrive. Not the other way around.
3. Risk of Losing Customers Trust & Loss of Reputation:
An email exchange about overlooking pre-agreed terms, or a wrong payment, or a missed deadline - It only takes one or two incidents for our customers, vendors, partners, suppliers and regulatory authorities to understand that our internal records management are not maintained properly.
Businesses have lost hard-earned trust of their clients for even minor things. What’s even pity here is that we help our competitors win our missed opportunities. With the implementation of a systematic record keeping and timely retrieval of records, the compliance is put in place. Record keeping compliance provides a more transparent and trustworthy relationship between businesses and customers.
4. Loss of Knowledge and mishandling information:
Without the existence of records about every single process, workflow and control the pragmatic knowledge of running an organization largely relies as knowledge within the people. If there is no checklist for creating records, storing them and timely retrieving them, a vast amount of knowledge gets lost when people leave the organization. A systematic records storage and records management system must be put in place to capture and use knowledge for the growth of the organization.
Simply shrinking, tearing and throwing records over bins are for the worst. Records are valuable in protecting the competitive advantage of a business. If a business has no control over copying, distributing and safely destructing records, then the competition’s job is simply made easier in understanding our next move.
5. Missing to Meeting Compliance:
Businesses struggle to keep up pace with competitors and take their fair market share in a volatile economy. The least they expect is anything that pulls them back from moving ahead. Failing to meet records-keeping compliance attracts inquiries, penalties, legal actions and loss of many things.
Knowing your business-industry specific record keeping requirements is of prime importance. Consult the industry regulatory body and a records and information management consultant (RIM) to understand your business obligations from a record keeping perspective. Understand the kind of files you require to maintain, methodology to handle and store records, retention schedules, reporting formats to maintain etc.
Having understood these risks associated with poor records keeping, implement a systematic records management with professional assistance from KAYMAN Records Management – The trusted records storage and management company in Chennai. Their document storage facility is state of the art, all-season proof, fully secured with scalable storage needs.
Consult KAYMAN
Document storage is essential for any organization that creates lots of physical records on a regular basis and are required to store and maintain for many years. Records rooms are used for storing documents. But are these records rooms weatherproof?
Physical records are vulnerable to weather caused damages whether it is extreme winter or extreme summer. Relative Humidity and Moisture needs to be balanced throughout all weather conditions in order to protect years of business records consistently.
Let’s understand how to make your records room all-season weatherproof.
It is important to carefully consider weather protection details while constructing or designating rooms specifically for storing records. The size of the records room in proportion to the amount of records to be stored, paving way for movement of people to reach out and access indexed records.
From the roof to the floor, walls, windows and doors are well insulated to maintain regulated temperature conditions inside the building. Controlled aeration is very important to rotate the air and avoiding any infestation.
Elevation of the records room should be way above the ground level to avoid water flooding during extreme rainy seasons. A well-functioning drainage system must be deployed to protect stored files from wall dampness, mold attacks and pests.
Unattended records room for a longer time is one of the primary mistakes many organizations do. If left without timely inspections, there are high chances of damages on stored records to the tune of losing them forever. The records governance policy should enforce actions and audit regularly so that potential threats can be addressed at the earliest than fire-fighting. Along with that, regular preventive maintenance should be done at the records room to avoid faulty working of any equipment and other tools used in the record storage facility.
Monitoring the storage room is essential for having an all-season weather proof record storage. This will help in monitoring the records room and making sure all the systems installed are working optimally. Also, a monitoring system will be beneficial in acting immediately if any accidents happened in the storage room. Beyond all these, physical security guards must ensure monitoring people and file movement closely to analyze any possible exposure to bad weather.
Maintaining year old records, that too protecting them across all weather seasons is indeed a complex management – the true unison of arts and science. It is not everyone’s cup of tea. Businesses need to take professional assistance when it comes to either constructing in-house records rooms or outsourcing the records management to record storage facilities.
Consult KAYMAN Records Management – The Trusted Records Storage and Management player in Chennai serving clients across multiple industries and helping them in meeting record-keeping compliance.
We understand that not every business stores their records at records storage facilities or take dedicated assistance from a professional records management company. Many businesses store records within their offices or in their warehouses or in some rental houses. With the intention of storing records in a cost-effective way or without knowing that there are specialized record storage facilities available, businesses continue to take risk with self-record storage and experience lots of problems.
While the subject of storing records seems to be easy, it is actually not. Especially when businesses generate volumes of physical records on a daily basis and they are supposed to store and preserve them for multiple years.
Physical records are so vulnerable to extreme weather conditions especially the rainy season. It is often not understood in its entirety that slightest negligence mistakes during upkeep of records can trigger significant damage and even cause financial loss to the organization.
Here are some practical tips that businesses can ensure to maintain a clean records storage, especially to protect records in a rainy season.
1. The high humidity in the atmosphere makes it difficult to preserve paper records and file cabinets, causing dampness and dampness-triggered problems like mold growth etc.
2. Heavy rain and cold breeze weather may find inroads into records room through open door, windows and pipes or ventilation systems.
3. When records are stored in records room, sometimes they go unattended and receive lesser or little care during this time.
4. Pests that are active during winter find these records room as safe haven and inflict serious damages to the physical records.
Maintaining records is vital for business continuity, compliance and decision making. Rainy seasons and moist weather conditions can make it very difficult to store and protect records. By following some of the above ideas, one may offer basic protection for records.
It makes perfect sense for businesses to consult KAYMAN Records Management to ensure records safety in adverse weather conditions. KAYMAN Records Management has secure and purpose-built, all-weather-proof physical record storage facility in Chennai. Let KAYMAN take care of your records safety.
Natural calamities are beyond our control. That’s not an excuse when it comes to protecting business records from Rain, floods, fire or others. Businesses operate, take decisions, thrive and grow based on the way they maintain records. But secured maintenance of these records is not as easy as it is spelt out.
Storing records and protecting them through multiple weather seasons is not an aspect every business would want them to specialize, because that is not their core business. There is an entire discipline of Records Management - practised by Records and Information Management (RIM) Professionals who introduce systematic methods of storing and retrieving records on-time.
Not every business has the awareness, takes initiatives and introduces records management and ensures their records are protected in detail. When not done properly, even a minimal exposure like rain droplets or dampness on the walls of record storage rooms might damage the entire business records.
Constant inspection and preventive maintenance in the record storage facility is a great way to prevent the documents from getting spoiled in rain. Unlike other times, the rainy season cannot compromise on the proper functioning of various tools including temperature control, such that a minute failure can cause damage to the paper records stored inside. Preventive maintenance will ensure all the equipment in the storage space is working properly and the walls are free of moisture. This can keep the documents completely safe from rain.
Rain is not just about excess amounts of water in the surroundings, but about various other factors like wind and humidity in the atmosphere. So, insulating the records storage rooms and sealing all the possible entries of water, wind and humidity is the next step in protecting the documents. Insulating the indoors can keep the place warmer and help the documents to be in an ideal temperature to be healthy. Along with this, all entry points including vents and windows should be sealed tightly to prevent moisture to enter the record storage facility.
Temperature control and monitoring systems in the document storage facility are inevitable in the rainy season. The distortion in the natural atmospheric temperature will affect the life of documents. For example, molds can grow on the documents if the temperature goes a little below the freezing point and at 70% humidity. So a proper climate control system should be implemented in the storage facility to maintain the records safely. Again, monitoring provides a more complete view of the conditions inside a storage space as well as the performance of its climate control system, allowing professionals to make better storage management decisions.
Documentation and file retrieval is another crucial area where the focus is needed to keep the records unaffected by the rain. The files should be handled with utmost care and when transporting to the record storage facility, a new set of policies should be introduced for the handling of the documents in rain. Also, ensure the employees are following the guidelines while moving the files and it is not affected by moisture. Otherwise, there may occur serious damage to the files, and you might not be able to retrieve them.
Here is an approach to eradicate mold growth on affected records and prevent further damage.
The best approach to address any affected records would be to first identify and isolate them to a safe and sterile location. Make a note of all the records, bins and identifiers before moving records across storage containers or rooms. Ensure the safe room has the right temperature, relative humidity, and aerated ventilation. If any carton boxes are used to store records, they need to be disposed of and not repurposed again.
If the volume of affected records are in a manageable quantity, vacuuming is also a cost-effective option to clean the molds. Ensure proper temperature and fan speed to prevent unexpected incidents.
Make sure 100% that the affected storage space and stored records are clean before restoring and refiling into the designated storage space. Ensure those returned records are still clean by frequently checking on every week. Follow the indexing process and double check the accuracy of filing so that records are not misplaced.
Record management is one of the critical aspects of any business. Getting the assistance of a professional record management company for storing your documents, especially in the rainy season can take a lot of pressure from your organization’s shoulders since protecting physical records from differing weather conditions requires a lot of knowledge, effort and tools. A trusted record management service provider like KAYMAN has a fully-equipped records storage facility and skilled record management professionals to handle the records in all climatic conditions and disasters.
Take professional records protection assistance from. Ensure customer confidence, meet compliance, save cost and be completely sure about the security of the files, even in adverse weather conditions. Starting this rainy season, entrust KAYMAN with your Records.
Experience peace of mind.
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