Green Initiatives in Corporate Sector and in the Corporate Governance

1. The Ministry of Corporate Affairs has taken a “Green Initiative in the Corporate Sector ” by allowing paperless compliances by the Companies after considering sections 2, 4, 5, and 81 of the Information Technology Act, 2000 for legal validity of compliances under Companies Act through electronic mode. It is hereby clarified that a company would have complied with Section 53 of the Companies Act, if the service of document has been made through electronic mode provided the company has obtained e-mail addresses of its members for sending the notice/documents through e­mail by giving an advance opportunity to every shareholders to register their e­mail address and changes therein from time to time with the company. A copy of the MCA Circular No. 17/2011 is attached for your reference.  
2. Ministry also has permitted the Company to send financial accounts to thru email id of its Members. It s most welcome initiatives by the MCA, which will save printing cost, time and most important is to an Earth. A copy of the Circular No. 18/2011 is attached for your reference.