MCA – Circulars No. 27, 28 and 29 – Participation in Board Meeting / Shareholder Meeting through electronic mode

22 May

MCA has taken following green initiative in the Corporate Governance –

a) Participation by shareholders in general meetings under the Companies Act, 1956 through electronic mode (Video Conferencing)
b) Participation by Directors in meetings of Board / Committee of Directors under the Companies Act, 1956 through Electronic mode.
c) Issue of Certificate by Digital Signature by ROC.
(a) Electronic mode means video conference facility i.e. audio-visual electronic communication facility employed which enables all persons
participating in that meeting to communicate concurrently with each other without an intermediary, and to participate effectively in the meeting.
(b) The notice of the meeting must inform shareholders regarding availability of participation through video conference, and provide necessary information to enable shareholders to access the available facility of videoconferencing.
(c) The Chairman of the meeting and Secretary shall assume the following responsibilities:
(i) to safeguard the integrity of the meeting via videoconferencing.
(ii) to ensure proper videoconference equipment/facilities.
(iii) to prepare the minutes of the meeting.
(iv) to ensure that no one other than the concerned shareholder or proxy to the shareholder is attending the meeting through electronic mode.
(v) If a statement of a participant in the meeting via videoconferencing is interrupted or garbled, the Chairman of the meeting or Secretary shall request for a repeat or reiteration, and if need be, the Chairman or Secretary shall repeat what he heard the participant was saying for confirmation or correction.
MCA Circular No. 27, 28 and 29 are hereby enclosed for your kind perusal and necessary reference.

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