Shareholders may no longer get physical docs from companies – Times of India

NEW DELHI: Shareholder conferences of a number of firms are set to be digital affairs if the suggestions of an knowledgeable panel are applied.
The committee, headed by corporate affairs secretary Rajesh Verma, has proposed casting off bodily supply of paperwork, such because the experiences by auditors or the board of administrators to shareholders and the registrar of firms, and as a substitute mandate digital supply, through electronic mail or placing up the knowledge on the corporate’s web site.
For many who nonetheless need bodily copies, the committee has advisable that it ought to be made out there, however a price, that will probably be determined by the corporate, will should be paid by these in search of exhausting copies.
Equally, in relation to holding AGMs and EGMs, the committee has advisable offering statutory backing to them via digital or hybrid mode. “It was additionally acknowledged that the place the assembly is for an EGM to be carried out fully in digital mode, the discover interval for such conferences could possibly be lowered as prescribed by the federal government,” the report mentioned.

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