Green Initiative in the Corporate Governance

Green Initiative in the Corporate Governance-Issue of Certificate by Digital Signature: The Ministry of Corporate Affairs vide its General Circular No. 29/2011 dated 20.05.2011 has taken another step towards “Green Initiative” and decided that all certificates and standard letters issued by the Registrar of Companies will now be issued electronically under the Digital Signature of Registrar of Companies.

Green Initiative in the Corporate Governance – Participation by Directors and Shareholders in  meetings under the Companies Act, 1956 through electronic mode : The Ministry of Corporate Affairs has already taken a “Green Initiative in the Corporate Governance” by allowing paperless compliance’s by the Companies after considering Sections 2, 4, 5, 13 and 81 of the Information Technology Act, 2000 for legal validity of compliance’s under Companies Act, 1956 through electronic mode. As another step towards Green Initiative and for providing larger participation and curbing the cost borne by the Company, Directors, and shareholders to attend various meetings under the provisions of the Companies Act, 1956, the MCA has permitted participation through video conferencing. The MCA circular no. 27 & 28 /2011 specifies that the Directors and shareholders of the company may participate in meetings under the provisions of Companies Act, 1956 through electronic mode. In this regard, the company shall also comply with the  requirements and procedures mentioned in the said notifications in addition to the normal procedures required under the Companies Act, 1956 for holding  meetings.

 

Leave a Comment

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.