Green initiative in the Corporate Governance – Participation by Shareholders in general meetings under the Companies Act, 1956 through electronic mode.

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.... Dr. R.P. Road, New Delhi-110 001. Dated: 20th May, 2011 To All Regional Directors All Registrars of Companies Subjects:-Green initiative in the Corporate Governance - Participation by Shareholders in general meetings under the Companies Act, 1956 through electronic mode. The Ministry of Corporate Affairs has taken a "Green Initiative in the Corporate Governance" by allowing pap....

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.... participate in a general meeting under the provisions of Companies Act, 1956 through electronic mode. For this purpose, the company shall also comply with the following requirements and procedures, in addition to the normal procedures required under the Companies Act, 1956 for holding general meeting :-      (a) Electronic mode means video conference facility i.e., audio....

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....nsure proper video conference 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.        ....

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.... of other company have to be personally present and shall be the quorum for the general meeting.      (c) In a general meeting, where shareholders are allowed to participate through electronic mode, the quorum as required under section 174 of the Companies Act, 1956 as well as chairman of the meeting shall have to be physically present at the place of the meeting. 6. To p....