The year 2011 has been quiet an eventful year so far, with some ecstatic and some unnerving moments.
After 28 years of long wait, the Indian Cricket Team finally lifted the coveted World Cup under the able leadership of its captain and excellent team work by all the players of the team.
As Henry Ford has rightly quoted,
“Coming together is a beginning. Keeping together is progress.
Working together is success.”
The Ministry of Corporate Affairs has vide its recent circular permitted service of documents through electronic mode. This indeed is a positive measure towards the Green Initiative in the Corporate Sector. Annual reports, notices of meetings and other communiqué if sent by email to the stakeholders, will greatly benefit not only the Corporates as it will cut down the costs of printing and posting, but also the environment as it is a move towards a paperless society.
The mandatory online payment of filing of fees to MCA will smoothen the operations and remove some of the procedural difficulties and is another measure towards the paperless environment.
The Ministry of Corporate Affairs has mandated certain class of Companies to file Balance Sheet and Profit and Loss Account for the year 2010-11 onwards in extensible Business Reporting Language (XBRL). The details of the circular are available under Updates and Amendments of this newsletter.